UTV posts Rs 160 million net profit, total revenues Rs1,510 million

The Ronnie Screwvalla-promoted UTV Software Communications Ltd's financials are out and it has made a net profit of Rs 160 million rupees on a total revenue of Rs 1,510 million for the year ending March, industry sources say.

Sources have been able to extrapolate the following information: For the year ending March 2001, the group's media revenues were Rs 1,510 million.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were Rs 320 million, with a profit before tax (PBT) of Rs 200 million and a profit after tax (PAT) of Rs 160 million.

The revenue represents a 28 per cent jump over the last year, EBITDA a jump of 151 per cent and PAT an increase of 167 per cent.

From this year, they follow an accounting policy of 100 per cent write-off, which further made a deviation of profits of Rs 35 million. UTV follows a five-year write-off policy on all their plant, machinery and equipment. The group's accounts are audited by Arthur Andersen.

Their prospectus draft and research report show a paid up capital of Rs 120 million, therefore their earnings per share (EPS) in March 2001 would be Rs3.40.

The group's revenues and net profits come from multiple streams, broadly broken up as: - TV Content: 40 per cent - Ads / Dubbing / Inflight / Live Events: 15 per cent - Motion Pictures: 12 per cent - Post Production: 20 per cent - Animation: 10 per cent - Air time sales and distribution: 3 per cent.

The Group has over 400 clients. The top 10 clients represent only 21 per cent of the revenue stream. Therefore their client dependency on any one single client is not too high. Of the 400 clients, 45 are international and global clients and export and international business represents 18 to 20 per cent of their annualised figures.

UTV Software Communications is made up of United Television (UTV) and four subsidiaries - Vijay TV, UTV Singapore, UTV Malaysia and UTV Interactive.

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