Cinevista pulls itself together again in Q3

(Posted on 1 February 2002 1:15 pm)

Cinevista Communications' Q3 results paint a rosier picture than they did in the previous quarters of this fiscal. The company that had posted net losses of Rs 20.32 million in Q2 2001, has managed to turn its fortunes by declaring a small, yet net profit of Rs 1.11 million in the quarter just ended. Whether the turnaround in its fortunes can be attributed to a change in nomenclature (the company changed from Cinevista Communications to Cinevistaas Limited on 20 December, 2001) cannot be proved, but it has definitely managed to pull itself out of the red - the company had been consistently posting losses for the last three quarters. It is now looking up again - with Sanjivani and Shhh Koi Hai airing on Star Plus and a feature film Yeh Mohabbat Hai, due for release shortly. The company has cut down significantly on administrative costs (Rs 1.10 million in Q3 2001 as against Rs 2.51 million in Q3 2000), while cost of production and telecast charges too have come down from Rs 77.6 million to Rs 48.9 million in the corresponding third quarters of 2000 and 2001. The company's realisation from serials has taken a beating though, with revenues slipping to Rs 46.54 million from Rs 87.97 million in the same quarter last year. Its income from other sources has however seen a rise from Rs 12.15 million in Q3 2000 to Rs 17.70 million in Q3 2001.