Date:26/07/2005 URL: http://www.thehindubusinessline.com/2005/07/26/stories/2005072602150401.htm

Back Helios & Matheson posts higher net, turnover

Our Bureau

CHENNAI: Helios & Matheson, the Chennai-based software firm, has reported a net profit of Rs 7.91 crore on revenues of Rs 49.67 crore for the quarter ended June 30, 2005 compared to a net profit of Rs 2.92 crore on revenues of Rs 24.71 crore for the corresponding quarter last year.

Software services and administrative expenses for quarter was Rs 37.58 crore (Rs 18.86 crore).

The board has recommended 15 per cent (Rs 1.50 per share) dividend. It has also recommended a bonus issue in the ratio of one share for every one share held. The bonus shares will be issued after obtaining shareholders' approval at the annual general meeting to be held on September 28, says a company press release.

The board felt the need to restructure the share capital in line with the capital employed in the business. The bonus issue would be made by capitalising a portion of the company's reserves. The company's paid-up share capital would increase to Rs 20 crore from Rs 10 crore consequent to the bonus issue.

In its guidance for the fiscal, the company hopes to report a net profit in the range of Rs 35.1 crore to Rs 35.5 crore, and income in the range of Rs 220.02 crore to Rs 220.82 crore, says the release.