BAG Films Q1 net profit up 41 % to Rs 8.8 million

MUMBAI: BAG Films Ltd's net profit rose 40.8 per cent to Rs 8.8 million for the quarter ended 30 June 2005, as against Rs 6.2 million a year ago.

Net income from sales and operations grew 96 per cent to Rs. 135 million, up from Rs. 68.7 million during this period. Profit before tax (PBT) appreciated 26.1 per cent to Rs. 12.2 million, as against Rs. 9.7 million. The healthy increase in PBT was despite increased depreciation charge of Rs. 6 million for the quarter, after the completion of the construction of the external structure for the convergence complex.

Commenting on the performance, BAG Films managing director Anurradha Prasad said: "Our performance has been encouraging with progressive performance across all our businesses. We continue to explore and identify opportunities and partnerships that leverage our competencies and widen our presence in the media and entertainment industry."

The company has over 96 per cent programmes under the commissioned category. Star India with Rs 68.5 million contributed 53 per cent of the company's total income in the first quarter of the current fiscal, while Media Content and Communications which runs Star News accounted for 25 per cent with Rs. 32.4 million. SET India, on the other hand, contributed 12 per cent with Rs 15.8 million.

The average programming hours per month during the quarter ended June 30, 2005, were 65, translating to a 41 per cent increase over the 46 hours in the quarter FY 2005

BAG Films has content software across all genres of programming - news, fiction, gameshows, education and documentaries.

BAG Films is exploring opportunities to produce films across all budgets and geographies. "We continue to steadily create a presence in the films segment. Plans to produce a Punjabi feature film have progressed with the appointment of Gurbir S Grewal as the director of the movie. Activity also continues on the other two productions," the company said in a release.

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