• PAGE ONE
• INDEX
• HOME

SHCIL net profit up 45%, to pay Rs. 2.25

Our Bureau

HYDERABAD, Aug. 28

STOCK Holding Corporation of India Ltd (SHCIL) has achieved a growth of 243 per cent in value of business processed, 72 per cent in value of assets in custody, 47 per cent in total income and 45 per cent in post-tax profit for the year ended March 31, 20 00.

Announcing the financial results at a press conference here on Monday, the SHCIL Managing Director and CEO, Mr. B. Virupaksha Goud, said the board had recommended a final dividend of 2.5 per cent, taking the total dividend to 22.5 per cent. It had earlie r announced an interim dividend of 20 per cent for the year.

The total value of the business processed by SHCIL during the year reached Rs. 1,04,700 crores from Rs. 30,500 crores in the previous year. The value of assets in custody has gone up to Rs. 1,58,000 crores (Rs. 91,900 crores). The total income went up to Rs. 139.3 crores (Rs. 94.7 crores) and the post-tax profit gone up to Rs. 30.1 crores (Rs. 20.7 crores).

For the year under review, SHCIL incurred an operating expenditure of Rs. 82.6 crores (Rs. 60.6 crores) and provided Rs. 30 lakhs towards interest and financial charges (Rs. 1.8 crores), Rs. 10.7 crores towards depreciation (Rs. 5.3 crores) and Rs. 15.6 crores towards taxation (Rs. 6.3 crores).

As on March 31, 2000, the reserves and surplus stood at Rs. 94.8 crores (Rs. 69.9 crores) and investments at Rs. 63.9 crores (Rs. 42.5 crores), while the paid-up capital remained at Rs. 21.1 crores. SHCIL's total tangible networth has gone up to Rs. 115. 9 crores from Rs. 91 crores in the previous year, while EPS stood at Rs. 14.3 (Rs. 9.83) and the book-value per share at Rs. 55.06 (Rs. 43.23). The corporation had turned debt-free by March 31, 1999 itself.

According to Mr. Goud, SHCIL's timely foray into retail segment coupled with the office network enabled it to carve a niche of its own in the capital market. It has garnered over 20 per cent of the depository accounts opened with the Depository. ``The Co rporation is geared to provide the Indian investors with the first financial super market by translating technology into innovative financial products that bring benefits.''