Prime Securities Ltd posts sharp rise in revenue and profits

The Board of Prime Securities Ltd is pleased to announce a sharp increase in consolidated revenues and profits for the second quarter and half year ended September 30, 2006.

Consolidated revenues for the quarter were at Rs.10.08 Crore as compared to Rs.7.86 Crore for the same period last year, while profit after tax for the quarter was at Rs.6.08 Crore compared to Rs.4.67 Crore for the same period last year (an increase of 30%).

For the half year, Consolidated Revenues were at Rs.24.01 crore compared to Rs.11.81 crore for the same period last year, while Profit After Tax was at Rs.15.17 crore compared to Rs.7.70 crore for the same period last year (an increase of 97%).

This translates into an EPS of Rs.2.49 for the quarter compared to Rs.1.88 for the same period last year.

This performance has been possible due to significant deal closures in the areas of private equity and corporate finance. Institutional brokerage activity has also been very buoyant.

The pipeline for deals in the areas of corporate finance / advisory remains extremely robust.

The board meeting for consideration of interim dividend is slated for October 20, 2006.

Source : Equity Bulls

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