| MUMBAI:
BAG Films and Media has posted a consolidated net loss of Rs 943.87 million for
the fiscal 2008-09, dragged down mainly by its TV broadcasting business. The net
loss for the previous fiscal was Rs 570.7 million. The
TV production business, however, stayed profitable. BAG Films said Saturday its
standalone net profit stood at Rs 15.01 million, a fall of 48.36 per cent from
year ago's Rs 29.17 million. TV
broadcasting (News24 and E24), which completed its first full year of commercial
operations, suffered an operating loss of Rs 227.75 million, compared to Rs 278
million a year ago. Revenue stood at Rs 192.96 million, as against Rs 8.4 million
in FY'08.
“Our
performance in the financial year ended March 31, 2009 has been in line with the
prevailing recessionary trend of the media industry. Also closure of two channels
in the entertainment category led to closure of two of our prime shows which has
resulted in the decline of revenue in the last quarter. Strong emphasis on resource
optimisation has yielded satisfactory bottom line. Going forward, we are confident
of achieving higher profitability and robust growth in the current financial year,”
the company said in a release. In
the radio business, which operates under Radio Dhamaal brand, operating loss came
down to Rs 35.62 million from year ago's Rs 47.65 million. Revenue for the fiscal
stood at Rs 30.55 million, up from previous fiscal's 8.43 million. The
audio visual production segment produced a revenue of Rs 406.25 million in the
fiscal, as against Rs 332.16 million a year ago. Operating profit from the segment
was Rs 34.38 million compared to Rs 57.09 million in FY'08. | 
