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MUMBAI:
Reliance MediaWorks (RMWL) has posted a consolidated
net loss of Rs 1.51 billion for the third quarter of
the fiscal, compared to a net loss of Rs 570.44 million
the company had posted in the earlier year.
The
company’s total income skid 12.88 per cent to Rs
2.11 billion compared to Rs 2.42 billion a year ago
even as expenditure rose 11.13 per cent to Rs 2.89 billion
from Rs 2.60 billion.
Revenue
from company’s theatrical exhibition segment, Big
Cinemas, declined to Rs 1.48 billion from to Rs 1.72
billion, representing a decline of Rs 240 million from
the trailing quarter.
The
company posted a revenue of Rs 534.38 million from
the Film Production Services segment, as compared
to Rs 598.3 million it had posted in the year-ago
period.
RMWL
clarified that the animation business is no longer
part of the film production services, pursuant to
restructuring that came into effect October last year.
Loss
from film production services further increased to
Rs 85.23 million compared to Rs 21.94 million in the
prior year. The company deployed Rs 7.08 billion in
the production services segment.
The
theatrical exhibition business revenue stood at Rs
1.48 billion in the quarter under review (from Rs
1.72 bn in the year ago period). The loss from the
segment was at Rs 510.38 million, as against a loss
of Rs 56.96 million in the corresponding period of
the previous fiscal.
The
company deployed Rs 8.05 billion on the segment as
of 31 December. Meanwhile, the television/film production
and distribution vertical saw a huge dip in revenue
from Rs 235.2 million in Q3 FY’11 to Rs 128.84
million in the current quarter.
Operating
profit from the segment stood at Rs 17.94 million,
down from Rs 43.63 million in the year-ago period.
The
company has informed that its exhibition business
achieved cash break-even during the quarter. It is
also in the process of in the process of transferring
its cinema exhibition and film and media services
into separate wholly owned subsidiaries.
"With
commencement of large commissioned orders, creative
restoration and media services showed a sharp upswing
at Rs 260 million and cash break-even in third quarter
as compared to cash operating loss of Rs 100 million
in trailing quarter," it said.
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