Adlabs Films net profit at Rs 217.2 million

MUMBAI: Reliance ADAG’s Adlabs Films has posted a consolidated net profit of Rs 217.2 million for the quarter ended 31 December 2007.

During the period, consolidated revenue stood at Rs 1.29 billion, up 23 per cent year-on-year.

On a standalone basis, the company’s total income was Rs 1.12 billion for the quarter ended 31 December 2007.

Adlabs‘ net profit stood at Rs 204.9 million, on a standalone basis during the period.

The company’s cinema division grew by 75 per cent to Rs 420 million, and is now operating 131 screens and 45 properties across the country.

Adlabs Films claims to have a market share of over 70 per cent in the Hindi film print business.

The motion picture processing and services division recorded a 26 per cent increase at Rs 240 million.

The content production and distribution business grew by 10 per cent, contributing Rs 470 million.

The company‘s results for the quarter ended 31 December 2007 include the operations of Entertainment One India Ltd and the digital business of Mukta Adlabs Digital Exhibition Pvt Ltd. It excludes the operations of the radio business that operates under the brand name Big FM. Therefore, it is not comparable with the previous period.

Adlabs Films CFO Venkat Devarajan said, “We have been launching new cinema properties at an aggressive pace. Our television business too, Synergy Adlabs, has been expanding rapidly in new genres and even regional languages. One of the most important features of this quarter has been the operational growth across divisions. This augurs well for the future.”

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