Deccan Chronicle surges on strong FY 2008 results

Deccan Chronicle Holdings gained 3.85% to Rs 116 at 11:38 IST on BSE after posting 68.53% surge in net profit to Rs 271.94 crore in the year ended March 2008 over the year ended March 2007.

The company announced the year ended March 2008 results during trading hours today, 30 June 2008.

The stock hit a high of Rs 117.80 and a low of Rs 109.50 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 99.05 on 10 June 2008.

The company has an equity capital of Rs 48.98 crore. Face value per share is Rs 2.

The current price of Rs 116 discounts its Q3 December 2007 annualised EPS of Rs 16.81, by a PE multiple of 6.90.

Deccan Chronicle Holdings’ total income rose 40.17% to Rs 820.25 crore in the year ended March 2008 over the year ended March 2007.

In April 2008, the company launched a new financial daily Financial Chronicle in Hyderabad and Chennai.

In May 2008, Deccan Chronicle launched Bangalore edition of its English daily newspapers Deccan Chronicle and Financial Chronicle.

Deccan Chronicle Holdings' principle activity is to publish newspapers.