Cinevistaas Board to Consider Stock Split

A meeting of the board of directors of Cinevistaas will be held on Aug. 20, 2007 to consider stock split from Rs 10 to Rs 2. Further the board also decided to increase the authorised share capital from Rs 120 million to Rs 200 million and to forfeit the partly paid shares.

Cinevistaas announced a phenomenal jump in net profit for the quarter ended June 2007. During the quarter, the company`s profit went up 4.87 times to Rs 2.73 million from Rs 0.56 million in the same quarter last year.

Sales for the quarter declined 26.80% to Rs 23.33 million compared with the corresponding quarter, a year ago.

Shares of the company were last trading up Rs 3.25, or 4.94%, at Rs 69.05. The total volume of shares traded was 65,999 at the BSE. (2.43 p.m, Tuesday)