Profits Climb for MRSS

In India, full-service agency Majestic Research Services and Solutions (MRSS) has reported a net profit of Rs 4.51 crore ($US 693k) for the half year ended September 30th 2017, up from 1.69 crore ($US 260k) a year earlier. Results exclude acquisition effects, and revenue also rose sharply.

MRSS specializes in multi-country research, offering qual, quant and online market research and market tracking to clients across numerous sectors, and in 2015 became the first MR agency to be listed on the Bombay Stock Exchange. Earlier this year, the firm acquired Market Probe Asia Pacific Pte Ltd from its US parent Market Probe Inc., in an all-cash deal.

During the half year ended September 30th, income from operations was Rs 20.04 crore (£2.3m), compared to Rs 13.5 crore (£1.57m) a year earlier, and Rs 22.90 (£2.7m) crore for the whole of the previous year 2016-17. EBITDA grew to nearly 37% from nearly 35% a year earlier.

Chairman Raj Sharma (pictured) comments: 'We have stayed on track and the numbers reflect the faith of our customers that propels our organic growth. We have not included the acquisition financials in this, so the results do not include the 'inorganic foray'. We thank all our stakeholders for their support'.

Web site: www.mrssindia.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.