Helios & Matheson Q1 net up 182%

By agencies   |   Tuesday, 26 July 2005, 07:00 Hrs
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CHENNAI: Helios and Matheson said its net profit for the quarter ended June 30, 2005 was Rs 766 million over, a 182 percent jump over last year, and announced a 1:1 bonus issue of shares.

The company's board of directors also recommended a 15 percent dividend on the shares.

"The bonus issue will be made by capitalizing a part of the company's reserves. The paid up capital of the company would increase from Rs 100 million to Rs 200 million consequent to the bonus issue," said Muralikrishna, MD of Helios and Matheson.

The company's income for the first quarter was Rs 496.8 million, a growth of 101 percent from the corresponding period last year and a sequential growth of 37 percent.

"Helios and Matheson has a strong track record of uninterrupted profitability and dividend distribution since inception. This fiscal too, we believe that we can continue to meet our commitment to our shareholders and expand capital base," Muralikrishna said.

Earnings per share (annualized) were Rs 30.62 compared to Rs 21.75 (annualized) for the corresponding quarter in the previous year. The bonus share will be issued after getting the shareholders approval at the AGM on September 28, 2005.

On the guidance for this fiscal, the Chennai-based company said the income was expected to be in the range of Rs 2.20 billion. The net profit is expected to be in the range of Rs 351 million and Rs 355 million.

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