Television

UTV net profit up 249 per cent to Rs 163 million

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MUMBAI: UTV Software Communications' consolidated net profit has surged 249 per cent to stand at Rs 163 million for the fiscal ended 31 March, 2005.

Total income grew 58 per cent to Rs 1,805 million. Explains UTV CEO Ronnie Screwvala, "In the fiscal under review we took the conscious decision of investing in feature films and general entertainment channel Hungama TV for the age group of 4-14. In the years to come, we estimate high growth potential in these segments for the company. We released two tent-pole feature films Lakshya and Swades."

The consolidated financial result of the company comprises subsidiaries UESPL, UTV-US, UTV-UK, UTV-Mauritius and UTV-BVI.

UTV's television segment at Rs 909 million in the fiscal contributed 50 per cent to the company's consolidated revenues. Revenue from films was Rs 774 million while allied content contributed Rs 98 million.

On a standalone basis, UTV's revenue for the year rose 58 per cent to Rs 1560 million. Net profit increased 114 per cent to Rs 156 million.

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