| MUMBAI:
Crest Animation Studios Ltd, has revenues, which stood at Rs 51 million for the
qarter ended 30 June as against Rs 72 million in the same period of last fiscal.
The net Loss after tax and before has been recorded at Rs 33 million as against
Rs 6 million for the corresponding period. During the quarter, the company
shifted its entire operations into a state of art studio at Ghatkopar, Mumbai.
Consequently, this transition resulted in a downtime of three to four weeks in
several processes, due to which there was a significant impact in the current
quarter's revenue billings, though all expenses relating thereto and the expenses
of shifting have been charged to the accounts, according to an official release.
The results of the quarter,
to the above extent have to be treated as exceptional and may not be comparable
consistently with the same quarter for the previous year or with the succeeding
quarters.The above transition will not impact the planned annual revenues of
the company for the year. The company continues to have a healthy outstanding
order book position. During the quarter, the Company has signed and begun work
on two new DVD/TV projects, aggregating to approximately Rs 210 million with leading
international studios for delivery over the next twelve to eighteen months, in
addition to the existing projects under execution. | 
