Deccan Chronicle FY 2008 net up 84%

Mumbai: Deccan Chronicle Holdings, publisher of English dailies such as Deccan Chronicle and Asian Age, has posted consolidated net profit of Rs303.65 crore for the year ended 31 March, 2008, a 83.74% increase over the previous year’s profit figure.

The group had posted a net profit of Rs165.26 crore for the year ended 31 March, 2007, Deccan Chronicle said in a filing to the Bombay Stock Exchange.

Total income of the group rose to Rs934.34 crore in fiscal 2008 from Rs622.03 crore a year ago.

Meanwhile, the board of directors of the company declared a final dividend of Rs2 on shares of Rs2 each (100%), in addition to interim dividend of Re1 per share paid.

On a standalone basis, the company reported a net profit of Rs271.94 crore for the year ended 31 March, 2008 as against Rs161.36 crore last year and the total income rose to Rs820.25 crore from Rs585.19 crore.

Shares of the company were trading at Rs115.95, up 3.8% on the BSE in morning trade.

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