Book majors in a bind

Repro India closes FY15 at a low

The financial year ended 31 March 2015, saw the book giant, Repro India's net profit slump by 56.45% at Rs 2.03 crore, when compared to the corresponding quarter (Q4) of the previous financial year. 

 

The quarterly reports are quite grim. Compared to the year's previous quarter ended December 2014, the net profit dip is as large as 67.36%. 

 

The net sales figure at Rs 107.09 crore is a relieving increase of 13.1% from the previous quarter ended 31 December 2014, and 2.90% in the yearly performance. The EBITDA reported was Rs EBITDA 12.06 crore,  an increase by 21.52%.

 

According to the company statement, over the last couple of years, a spend of close to Rs 22 crores was made on Rapples, Repro's eLearning venture, which was launched in February 2014. Pramod Khera, executive director, in his statement said, "The entire amount, Rs 22 crore, has been written off as expenses in our P&L, we have not capitalised any part of this."

 

He continued, "The reduction of the overall revenues from Rs 421 crore to Rs 395 crore, when compared to FY14, has been due to the reduction in exports. The exports have come down from Rs 197 crore to Rs 114 crore."

 

The exports, according to the company statement, have reduced by 50% in West Africa, Nigeria, and Ghana. The company attributes this fall to the the Ebola crisis and the then due elections in Nigeria and the Nigerian new government's proposed 60% dutyto be implemented on imported books.

 

Khera, however, stated, "This year the domestic EBITDA has improved from 9.14% to 14.2%.This improvement has come over because we have moved more and more clients towards the full services."

 

The winner of the first PWI Green Printing Company of the Year in 2014, Repro India, operates from three locations – Vashi, Surat and Chennai.

 

Navneet Education's annual profit decelerates by 3.81% 

For the quarter ended 31 March 2015, Navneet Education has reported a 32.18% increase in its net profit over Q3. The net profit stands at Rs 15.65 crore. 

 

However, this is a 3.81% dip from the corresponding quarter in the previous year. 

 

Similarly, the EBITDA at Rs 33.44 crore, has increased by 38.12% from the previous quarter but decreased by 0.21% when comparing  Q4 FY14

 

The sales of the company, at Rs 183.13 crore, is a 36.35% jump from the quarter ended 31 December 2014. 

 

The company has informed the Bombay Stock Exchange (BSE) of the Board's recommended dividend Rs 2.20 ps (110%) per share on 23,82,15,000 equity shares of Rs 2 each for the financial year ended March 31, 2015.