CNI Research Ltd., the leading BSE listed research organization that specializes in Small & Mid-caps, announces results for Q1 of 2010-2011
Turnover in Q1 at Rs.1672.40 lakh is up by over 22 times over Q1 2009-10
Net profit of Q1 at Rs.59.92 Lakh.
- (1888PressRelease) August 17, 2010 - CNI Research Ltd., the leading BSE listed research organization that specializes in Small & Mid-caps, announced its unaudited financial results for the quarter ended 30th June 2010.
The turnover for Q1 2010-2011 is Rs.1672.40 lakh up from Rs. 71.29 lakh in Q1 of 2009-2010, marking a 2200% rise in revenues. Net Profit was at Rs. 59.93 lakh in the same quarter as compared to Rs. 63.98 lakh in Q1 2009-2010 showing a marginal decline. The earning per share was Rs. 0.09 in the quarter ended June 30, 2010, as against Rs.0.21 in the quarter ended June 30, 2009.
Explaining the dichotomy between the topline and the net profits Mr.Kishor Ostwal, CMD, CNI Research Ltd. said that " Over the last one year we have taken many concrete steps to grow the company and have ventured into new areas. One primary area of operations that has emerged is Investment activity. However since we are a relatively new player in the new segments of operations, our expenses have been relatively higher which has impacted our bottom line. We expect the expenses to slowly stabilise and decrease as a percentage of the turnover in coming quarters."
He further added that the jump in turnover justified the management's decision to diversify into new revenue streams and said that CNI would be actively keep exploring newer opportunities in the Financial Services sector. The quarter also saw CNI discontinuing the sale of Research product to retail audience and transferring this to its subsidiary "CNI Infoxchange Private Limited". This is in keeping with the companies' decision to focus on high growth areas.
About CNI
CNI Research Limited is a BSE Listed, leading Indian Research Company analysing and providing Data, Research Reports and Financial Information about Companies that are into the Small and Medium Cap category. CNI today has more than 40,000 subscribers from the retail Investors who rely on CNI for authentic and reliable information on Capital Markets to make their investment decisions. This information is provided to them online through their Financial Portal www.chamatkar.com .
CNI Research operates in the highly fragmented SME segment where information is hard to come by. Most of the research in India is done on large companies while there exists, practically no reliable information on smaller companies. CNI established in 2000 has successfully stepped into this void and established itself as a serious research house that sources hard to find data from these enterprises and does in-house research to come up with reports that are reliable and often predict the future happenings.
For more information, please contact:
Sunil Kumar Singh/ Nidhi Gupta
Finese PR
+91 11 43056200 (30 lines)
sunil ( @ ) finesepr dot com /nidhi ( @ ) finesepr dot com
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CNIRESLTD Scrip Code : 512018
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