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Cinemax India surges post Q2 results, stock doubles in 12 days

September 2012 quarter net profit at Rs 13.39 crore against Rs 7.98 crore in June 2012 quarter.

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Cinemax India has locked in 10% upper circuit at Rs 151 after reporting a 68% quarter-on-quarter (qoq) growth in net profit at Rs 13.39 crore for the second quarter ended September 2012. The company engaged in theatre exhibition business had profit of Rs 7.98 crore in June 2012 quarter.

The company’s total income from operations grew 19% at Rs 100 crore in September from Rs 84 crore in the previous quarter, said in a statement.

Cinemax India is the resultant entity carrying the demerged theatre exhibition business of Cinemax Properties with effect from 1 April 2012.

Meanwhile, the stock has been more than doubled from Rs 74 after Reliance Media & Entertainment Fund had acquired 158,097 shares of the company for Rs 1.22 crore on October 29.

A combined 817,511 shares have already changed hands on the counter so far and there are pending buy orders for 178,043 shares on the BSE and NSE at 1510 hours.

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