Prime Focus Q3 net up 50% to Rs 262.9 mn

MUMBAI: Prime Focus Limited has posted a consolidated net profit of Rs 262.9 million for tthe fiscal-third quarter ended December 2011, which is 50.4 per cent higher compared to the Rs 174.8 million the company posted in the same quarter in the previous fiscal.

The company’s consolidated income also rose 67.6 per cent to Rs 2.13 billion for the third quarter compared to the Rs 1.27 billion that the company posted in financial year 2010 for the same quarter. Net income jumped to Rs 612.7 million for the current quarter as opposed to Rs 370.6 million in the previous fiscal for the same period.

Prime Focus MD & CEO Ramki Sankaranarayanan said, “I am pleased to report a good set of results based on the continued strong performance of our 2D-3D conversion business, which is growing rapidly on the back of superior technology platform, View-DTM and service delivery to Hollywood studios. Five of the 10 Oscar nominations in the visual effects category this year are projects we are proud to have contributed our services to, clearly reflecting our global penetration in this space.

“Our subsidiary Prime Focus Technologies (PFT) is in the forefront of cloud computing driven execution of digital processes in the media industry. As broadcasters and content owners embrace HD TV, file-based workflows and multi-platform delivery, new age standard operating procedures and engagement models are emerging in managing unified content operations. CLEARTM, our hybrid cloud platform, on the back of the successes in India with Star TV, Eros, Unilever, Balaji Telefilms and JWT, now have global wins as well reflecting its potential for the future."

PFL is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market.

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