Shringar Cinemas bounces on turnaround
Shringar Cinemas jumped 8% to Rs 63.05, on posting turnaround results in December 2006 quarter.A strong 3.4 lakh shares changed hands in the counter on BSE.The stock had firmed up before results. From Rs 48.25 on 20 December 2006, it spurted 20.8% to Rs 58.30 by 18 January 2007. The results were declared in mid-afternoon trade today.
Shringar Cinemas posted a net profit of Rs 3.64 crore in December 2006 quarter compared to a net loss of Rs 1.99 crore in December 2005 quarter. Total revenue rose 101.3% to Rs 15.42 crore (Rs 7.66 crore).
Shringar Cinemas is a film distributor and exhibitor. The company owns a chain of multiplexes under the Fame brand. It has a total of 36 operational screens.
Recently, Shringar's Fame Multiplex at pimpri, Pune, was exempted from paying entertainment tax exemption. This multiplex will enjoy 100% exemption for the first 3 years and 75% for the subsequent two years.
In early December 2006, Shringar commenced operations at Fame Aurangabad, which comprises three screens and 1,043 seats.
Shringar Cinemas posted a net profit of Rs 3.64 crore in December 2006 quarter compared to a net loss of Rs 1.99 crore in December 2005 quarter. Total revenue rose 101.3% to Rs 15.42 crore (Rs 7.66 crore).
Shringar Cinemas is a film distributor and exhibitor. The company owns a chain of multiplexes under the Fame brand. It has a total of 36 operational screens.
Recently, Shringar's Fame Multiplex at pimpri, Pune, was exempted from paying entertainment tax exemption. This multiplex will enjoy 100% exemption for the first 3 years and 75% for the subsequent two years.
In early December 2006, Shringar commenced operations at Fame Aurangabad, which comprises three screens and 1,043 seats.
posted by SY at 6:05 PM
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