| MUMBAI:
The Anil Dhirubhai Ambani Group company Adlabs Films Ltd's Q3 ended 31 December
2008 results show that it has grown healthily but in the process its bottomline
has turned negative. The company is involved in film processing, digital intermediate
and VFX, studio and camera equipment, film restoration and digital cinema mastering,
TV content production, Film distribution, Cinema exhibition across India, US and
Malaysia.
Its
theatrical exhibition business clocked revenues of Rs 1.101
billion (Rs 423.88 million in Q3 2007) with profits before
interest and tax nosediving to a loss of Rs 40.15 million
(Rs 36.37 million profit). Its radio business – the Big
FM brand – generated revenues of Rs 498.8 million with
losses of Rs 85.5 million (the company says the financial
results are not comparable as the results of the radio division
were adjusted against the general reserves of Adlabs for the
period 1 April 2006 to 31 March 2008). The film business registered
a revenue of Rs 375.6 million (Rs 243.22 million) and profits
of Rs 69.7 million (Rs 54.15 million). Film production and
distribution reported revenues of Rs 329.7 million (Rs 469.7
million) with profits at Rs 14.52 million (Rs 18.65 million).
On
a consolidated basis, its revenues were at Rs 2.16 billion for the quarter (Rs
1.01 billion). Heavy expenses and investments of Rs 2.40 billion blew profitability
away. Losses were at Rs 268.6 million (Rs 226.94 million).
The
company says that it is demerging its radio division into
its subsidiary Reliance Unicom after all the regulatory permissions
and that this will become effective from 1 April 2008, the
beginning of the current year. If the demerger gets approval,
the results would read differently. In that case its revenues
would be Rs 1.63 billion with net losses of Rs 51.7 million.
Commenting
on the performance, chief executive officer Anil Arjun said,
"We have scaled our businesses and provide a comprehensive
range of services to film clients. All business segments enjoy
dominant leadership positions. During the quarter, Big Cinemas
was honored "International Exhibitor of the Year"
at CineAsia, Macau and our distribution division had a record-breaking
successful release in Ghajini in the international
markets."
Click
here to download the balance sheet of Adlabs Q3 | 
