Pressman Advertising reports 6 per cent q-o-q revenue growth for Q2-2014

BENGALURU: Pressman Advertising Limited (Pressman), probably the first advertising agency that was listed on the NSE and BSE last month reported a revenue growth of 5.9 per cent for Q2-2014 at Rs10.15 crore as compared to the Rs 9.58 crore for the immediate trailing quarter Q1-2014.

PAT for Q2-2014 was about 1.1 per cent lower at Rs 1.9975 crore than the Rs 2.0198 crore for Q1-2014. The company reported revenue of Rs 46.96 crore and a PAT of Rs 6.29 crore for FY-2013 and paid a dividend of 40 per cent.

In Q1-2014, the company had released Rs 1.461 crore that had been earlier written off and this amount helped in inflating the profit for that quarter. This year the company has added Rs 0.6 crore to exceptional items ? write back of liability provided for earlier year no longer required.

Expenditure for Q2-2014 at Rs 8.89 crore was 3.2 per cent lower than the Rs 9.18 crore for Q1-2014. Cost or services for Q2-2014 at Rs 7.49 crore was 4 per cent lower than the Rs 7.8 crore for Q1-2014.

For the half year ended 30 September 2013, the company?s gross income (including  exceptional items) stood at Rs 22.089 crore and PAT at Rs 4.02 crore. As on 31 March 2013, the company had Reserves and Surplus (excluding revaluation reserves) of Rs13.75 crore on a paid up capital of Rs 4.6966 crore.

Notes: (1) The name of the company has changed from Nucent Estates Limited to Pressman Advertising Limited with effect from 22 August 2013.

(2) Current quarter/half-year?s figures are not comparable for those of last year on account of effect of amalgamation

(3) Please read the attached financial results

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