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MPS is a leading provider of high-quality publishing solutions that cover every stage of the author-to-reader publishing process. Its range of offerings covers everything from print and digital publishing solutions, to advert creation and magazine production, to fulfillment solutions for books and journals.
MPS is the demerged publishing technology and services business of erstwhile Macmillan India. Subsequent to Macmillan UK's exit from this business, the business was taken over by ADI BPO, which now controls 75% equity stake in MPS.
Steady start to FY 2014 after stupendous FY 2013
MPS reported 3% y-o-y growth in sales to Rs 39.79 crore for the quarter ended June 2013.
OPM stood at 20.4% against 19.1% taking OP up 10% to Rs 8.11 crore.
Other income jumped 66% to Rs 1.66 crore.
As interest cost fell 30% to Rs 14 lakh and depreciation declined 13% to Rs 1.44 crore., PBT grew 25% to Rs 8.19 crore.
After providing for tax (up 50% to Rs 2.79 crore) PAT grew 16% y-o-y to Rs 5.40 crore.
FY 2013 performance
For FY 2013 sales had fallen 14% to Rs 164.00 crore. OPM had jumped from 10.4% to 26.2% which saw OP soaring 117% to Rs 42.92 crore.
PBT was up 175% to Rs 39.95 crore.
After providing for tax (up 119% to Rs 8.06 crore) PAT jumped 193% to Rs 31.89 crore.
Other developments
During the quarter the company terminated membership interest purchase agreement entered into with Element LLC USA. The company set up the wholly owned subsidiary MTS North America LLC and invested $ 1.8 million equivalent to Rs 10.47 crore as capital contribution in the subsidiary.
The share price fell by over 5% to Rs 116 in reaction to the results.
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