DCHL reports Rs 14.8 cr profit in March quarter

HYDERABAD: Deccan Chronicle Holdings Limited (DCHL) today said it has reported Rs 14.82 crore net profit for the quarter ended March 31, 2013. 

The company reported loss of Rs 2.21 crore in the previous quarter ended December 31, 2012. 

Total income from operations in March 2013 quarter stood at Rs 107.53 crore. 

The beleaguered city-based publishing house reported Rs 102.32 crore income during the December 2012 quarter, 
DCHLsaid in a filing with bourses. 

As the financial year 2011-12 was extended by six months till September 30, 2012, the current financial year will end on September 30, 2013, the company said in the statement.

"Some of the lenders and creditors of the company have initiated for recovery of their debts and some other creditors have filed winding up petitions against the company which however, have not been admitted as on date. The company has been facing litigation before various forums," DCHL said. 

DCHL which is engaged in printing and publishing of 'Deccan Chronicle', 'Financial Chronicle', 'Andhra Bhoomi' and 'Asian Age' newspapers is facing rough weather on alleged default of payments. 

The company has not made any provision for the accrued and unpaid interest, damages, costs and other fanatical charges as it is negotiating with lenders/creditors for restructuring of its liabilities and in addition the company has disputed the debt claimed by some lenders, DCHL said. 

DCHL had earlier said it is in the process of demerging its printing and publication, retail and sporting activities into a separate entity called "Land Interactive Media" registered in Delhi. 

DCHL shares today closed at Rs 3.16 apiece up 2.27 per cent over previous close on 
BSE.