| For this, the Adlabs Films board of directors has approved
the acquisition of up to six per cent stake in Prime Focus Limited.
Prime Focus is a Mumbai based company that provides post production
services such as editing, sound and special effects, graphics to the
ad and film industry. The company promoted by Namit Malhotra is better
known for the post-production of music video, Jalwa and of the Coke
ad film showing an Aamir Khan double.
Adlabs Films had informed the Bombay Stock Exchange last Thursday
that Adlabs promoters Manmohan Shetty and Vasanji Mamania had offloaded
0.7 million shares each amounting to 3.255 per cent respectively
on 18 December 2003 through the open market. The respective stakes
of Shetty and Mamania after the sale stand at 6.775 million shares
each to the tune of 31.51 per cent.
In its third quarter results, Adlabs Films clocked a year on year
rise of 42.15 per cent. The company recorded a net profit of Rs
58 million for the quarter ended 31 December 2003 vis-a-vis Rs 40.8
million in the corresponding period of the previous fiscal.
Total income for the quarter went up by 16.22 per cent to Rs 225.6
million, as against Rs 194.1 million for the corresponding quarter
in the previous fiscal.
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