BAG films net sales FY2004 up by 29 per cent

MUMBAI: BAG films limited today announced its financial results for the year that ended 31 March 2004.

The revenues for the financial year 2004 are listed as Rs 182.8 million, while the net profit that the media company has earned is RS 28.9 million. The company is reportedly looking at exploring numerous avenues for growth this year.

According to an official release, during the financial year 2004 for the period April 2003 - March 2004, the net sales grew up to per cent as compared to last year. While the net sales grew up to RS 182.8 million as compared to RS 141.2 million for April 2002-March 2003 period.

The operating profit increased from 11.4 per cent at RS 33.2 million from RS 29.8 million. The net profit after tax deduction was higher by 8.7 per cent to RS 28.9 million as compared to last year's RS 26.6 million. The earning per share (EPS) is RS 0.59 for the year.

The year under review is the first in the decade old company's history as a listed entity.

Commenting on the performance for FY2004, BAG films ltd, managing director, Anurradha Prasad is quoted in the release as saying, "The just concluded financial year has been one of consolidation. Considerable time and effort has been invested into identifying opportunities and building platforms for growth. Some initiatives in the programming arena almost immediately struck a chord with our audiences. At BAG we are confident and enthusiastic that our highly proficient and experienced team backed by a robust infrastructure will deliver healthy performance going forward"

The production house has an afternoon family drama Kumkum, which is currently on Star Plus. It has also produced the Brian Silas show that has begun airing on Sahara Manoranjan from 25 June 2004, says the release.

While Poll Khol - it's satirical show, which has received rave reviews, is back on Star News, the company has been successfully producing a crime special bulletin Red Alert. The two news and information programmes based on current affairs and the entertainment industry respectively, Rozana and Khabrein Bollywood Ki, produced by the production company air on Doordarshan News.

That apart, the company has been trying to explore various avenues like films, media school, new media like DVD, haptics, video streaming, wireless transmission and the internet.

BAG films went public in September 2003, with a public issue of 14,860,000 equity shares of RS 2 each at a premium of RS 8 per share, aggregating to RS 148.6 million. The company is listed on the Delhi, Mumbai and National Stock Exchanges. The proceeds of the Public Issue have been utilised mainly towards construction of convergence studio and iSomes and production of feature films, adds the release.

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