Shringar Cinemas Ltd Quarterly profit at Rs.5.22 Crore, up 314.52%

Shringar Cinemas Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.

The Company has posted a profit after taxes of Rs.52.23 million for the quarter ended June 30, 2007 where as the same was at Rs.12.6 million for the quarter ended June 30, 2006. Total Income is Rs.231.72 million for the quarter ended June 30, 2007 where as the same was at Rs.126.98 million for the quarter ended June 30, 2006.

The company reported an Earnings Per Share (EPS) of Rs.1.65 for Quarter ended June 30, 2007 compared to Rs.0.4 reported during Quarter ended June 30, 2006.

The Company has received an order dated October 11, 2006 from the Government of West Bengal recommending fame Kolkatta as Multiplex Theatre Complex in order to avail the benefit Under Section 3 of West Bengal Act XI of 2003. Consequently, the Company has recognized, under the head ´Other Income´ a sum of Rs 19.261 million being the entertainment tax paid from the date of commencement of the multiplex till June 30, 2007 - pending receipt of the refund order, the Company filed the necessary application with the appropriate authorities.

Source : Equity Bulls

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