Deccan Chronicle to launch Chennai edition by Jan 2005, embarks on IPO

The Chennai edition of the Andhra Pradesh's largest English language newspaper is expected to roll out in January 2005, Business Standard
reports quoting PK Iyer, executive director of Deccan Chronicle Holdings.

Extracts:

Mid-Day Multimedia, the only listed newspaper company, has a P/E of 11. It reported a net profit of Rs 9 crore (Rs 90 million) on a turnover of Rs 93 crore (Rs 930 million) in 2003-04.

Deccan Chronicle made a profit of Rs 27 crore (Rs 270 million) on a turnover of Rs 122 crore (Rs 1.22 billion) in 2003-04...

...At present, DCHL is owned fully by brothers T Venkattram Reddy and T Vinayak Ravi Reddy.