MAARS SOFTWARE NET JUMPS 104% TO Rs7.5 CR
Article Abstract:
Maars Software International Ltd recorded a 112 percent growth in its net sales at Rs35.09 crore in the year ended December 1998 (Rs16.49 crore in the calendar year 1997). Its net profit increased by 104 percent at Rs7.50 crore (Rs3.68 crore). Its expenditure was Rs25.50 crore. Its interest was Rs88.50 lakh (Rs20.90 lakh). Its depreciation was Rs68.50 lakh (Rs43.50 lakh). Its equity was Rs5.10 crore. Its reserves were Rs8.69 crore. It has declared a dividend of 33 percent for 1998 (30 percent). (rk) (kvr)
Comment:
Maars Software International Ltd recorded a 112 percent growth in its net sales at Rs35.09 crore in the year ended December 1998 (Rs16.49 crore in the calendar year 1997).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MAARS RAISES Rs50 CR VIA PVT PLACEMENT
Article Abstract:
Maars Software International Ltd of Chennai has privately placed 20 lakh shares with institutional investors at about Rs250 per share to raise Rs45-50 crore. The placement price is at a discount of about 20 percent to the ruling market price of about Rs340 per share on the Bombay Stock Exchange. Proceeds from the private placement will be used to finance business expansion and to set up a subsidiary in the US. The company's paid-up capital will increase to about Rs7 crore after the placement. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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