Deccan Chronicle Holdings Hike in advertisement rate

Deccan Chronicle Holdings gained 2.93% to Rs 151.20 at 12:29 IST on BSE on launching its new financial daily Financial Chronicle in Hyderabad and Chennai.

The stock hit a high of Rs 158 and a low of Rs 148 so far during the day. The stock had a 52-week high of Rs 270.10 on 4 January 2008 and a 52-week low of Rs 134.45 on 24 March 2008.

The company’s current equity is Rs 48.98 crore. Face value per share is Rs 2.

The current price of Rs 151.20 discounts its Q3 December 2007 EPS of Rs 16.81, by a PE multiple of 8.99.

Deccan Chronicle Holdings’ net profit rose 112.5% to Rs 102.94 crore on 47.7% growth in net sales to Rs 216.20 crore in Q3 December 2007 over Q3 December 2006.

Deccan Chronicle Holdings also said today, 16 April 2008, it has increased its advertisement tariff across all its editions by 30% with immediate effect.

Deccan Chronicle Holdings's principle activity is to publish newspapers. The company's English daily is circulated in Hyderabad and Andhra Pradesh.