NSE:MCLOUD

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Magellanic Cloud Approves Group Restructuring, Preferential Issue

Magellanic Cloud (BOM:538891, NSE:MCLOUD) has approved the amalgamation of its wholly owned subsidiary IVIS International with the company, with no cash or share consideration involved and no change in the overall shareholding pattern.The board also approved plans to raise capital through the issuance of 37.4 million equity shares and 126.7 million convertible warrants on a preferential basis to promoters and non-promoters, subject to shareholder and regulatory approvals, according to a filing with the National Stock Exchange of India and BSE on Thursday.

BOM:538891NSE:MCLOUD

Asia31d ago

Magellanic Cloud's Consolidated Net Profit Rises in Fiscal Q4

Magellanic Cloud's (NSE:MCLOUD, BOM:538891) consolidated net profit increased to 294.9 million Indian rupees in the fiscal fourth quarter ended March 31 from 223.3 million rupees a year ago.Earnings per share climbed to 0.50 rupees from 0.38 rupees a year earlier, the technology company said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 jumped to 2.06 billion rupees from 1.56 billion rupees a year ago.The company's shares were down nearly 1% in recent trade.

BOM:538891NSE:MCLOUD

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