31-10-2008, DCHL, India Earnings, Q2 / FY 08-09
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India Earnings - Deccan Chronicle profit dips on rise of Raw Material
Deccan Chronicle Holdings Ltd ( DCHL) : Engaged in printing and publishing newspaper and periodicals announced a drop in standalone net profit for the quarter ended September 2008, failing to meet analysts expectations. During the quarter, the profit of the company declined 45.19% to Rs 452.70 million from Rs 826 million in the same quarter previous year. The analysts at Bloomberg had expected the earnings to stand at Rs 830 million for quarter ended September 2008.Net sales for the quarter rose 20.59% to Rs 2,264.30 million over prior year period. The analysts had estimated the net sales to stand at Rs 2096.50 million.
Meanwhile, total income for the quarter rose 22.88% to Rs 2,418.90 million, when compared with the prior year period.
The company posted earnings of Rs 1.85 a share during the quarter, registering 45.27% decline over prior year period. The analysts had expected the same to be at Rs 2.55 a share for quarter ended September 2008.
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