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Pressman Advertising Ltd FY19 PAT at Rs. 655 lakh

Posted On: 2019-05-24 10:00:47

For the year ended 31st March, 2019, Pressman Advertising Ltd posted a Total Income of Rs. 4413.31 lakh as against Rs. 4938.60 lakh in the previous year. The Company's Profit before Tax for the year stood at Rs. 849.96 lakh (Rs. 1105.69 lakh) and the Profit after Tax at Rs. 654.96 lakh (Rs. 832.03 lakh). The Earnings per share (Face Value: Rs. 2) for the year was Rs. 2.79 (Rs. 3.54).

For the quarter ended 31st March, 2019, the company's Total Income stood at Rs. 991.25 lakh (Rs. 1290.90 lakh) while Profit after Tax for the quarter was Rs. 150.72 lakh (Rs. 221.14 lakh).

In spite of a decline in profits, the Board of Directors has recommended a dividend of 70% (i.e. Rs. 1.40 per equity share of Rs. 2 each) for the year, which is the same as in the previous year. The Company is debt free and has strong fundamentals. As at 31st March, 2019, its Other Equity (excluding Revaluation Reserve) stood at Rs. 3340.05 lakh on an Equity Share Capital of Rs. 469.66 lakh.

Business during the year was difficult on account of substantial reduction in advertising budgets by public sector undertakings, banks and mutual funds. The uncertain situation on account of the general elections is now over and it is expected that the advertising spends will see a healthy increase. The Company has a well established business and a large number of blue chip clients and looks forward to the future with much optimism.

Shares of Pressman Advertising Limited was last trading in BSE at Rs.27.2 as compared to the previous close of Rs. 26.3. The total number of shares traded during the day was 2974 in over 23 trades.

The stock hit an intraday high of Rs. 27.2 and intraday low of 26. The net turnover during the day was Rs. 78626.

Source: Equity Bulls

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