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Prime Focus turns around

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BENGALURU: Prime Focus Limited (PFL) has reported robust financial performance, including consolidated profit after tax (PAT) for the period ended 31 March 2017 (quarter – Q4-17 and current quarter, current fiscal; year FY-17 and current year) as compared to the corresponding year ago periods – Q4-16 and FY-16 respectively. PFL reported consolidated PAT for FY-17 at Rs 1,397.39 million as compared to a consolidated loss of Rs 3,168.29 million in fiscal 2016. For the current quarter, PFL reported consolidated PAT of Rs 457.66 million as compared to a consolidated loss of Rs 2,648,86 million in FY-16.

The company’s consolidated total revenue from operations (TR) in FY-17 increased 55.7 percent to Rs 21,536.25 million from Rs 13,828.15 million in the previous year. Consolidated total Income in the current year increased 52.5 percent to Rs 21,780.76 million from Rs 14,283.57 million in the previous year.

In its investor presentation, PFL says that strong growth across businesses drove consolidated income growth of 14 percent primarily led by encouraging growth in Creative Services driven by additional capacity and deliveries from India. Creative and Tech/Tech Enabled services contributed 78 percent and 16 percent, respectively. The company’s three main businesses are Creative Services – it works on Hollywood Blockbusters; Technology Services; and Films and Media Services (FMS) where it works mainly with Indian films.

PFL’s adjusted EBIDTA for FY-17 increased 50 percent to Rs 5,014 million from Rs 3,348 million in FY-16.

Total Expenditure in FY-17 increased 29.2 percent to Rs 21,261.99 million from Rs 1,6454,04 million in FY-16. Employee benefits expense in FY-17 increased 41.5 percent to Rs 12,163.23 million from Rs 8,596.69 million in the previous year. Technicians fees in FY-17 increased 49.4 percent to Rs 368.92 million from Rs 246.95 million in FY-16. Technical Services cost in the current year increased by 28.5 percent to Rs 591.61 million from Rs 460.37 million in FY-16. Employee Stock Options or ESOP costs in fiscal 2017 increased by almost six-fold in FY-17 to Rs 256.69 million as compared to Rs 42.83 million in the previous year.

Finance cost in FY-17 reduced 51.2 percent to Rs 1,278.73 million from Rs 2,620.21 million in FY-16.

Other Expenditure in the current year increased 54.1 percent to Rs 3,841.70 million as compared to Rs 2,492.55 million in fiscal 2016.

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