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MUMBAI: Adlabs
Films Limited, a member of the Reliance Anil Dhirubhai Ambani
Group, has posted a 90 per cent growth in consolidated net
profit to Rs 150 million for the fourth quarter of 2006-2007,
up from Rs 80 million in the year-ago period.
Consolidated
revenues rose 174 per cent to Rs 1.6 billion as against Rs 390
million. EBIDTA stood at Rs 240 million, up 88 per cent from
Rs 130 million in Q4FY06.
Revenues across all three divisions of the company witnessed
growth during the quarter. Film processing and services division
logged in 32 per cent year-on-year growth at Rs 200 million.
The exhibition division grew by 222 per cent to Rs 200 million
while the film production and distribution business saw a total
income growth of 313 per cent to Rs 540 million.
“We
are very encouraged by the performance this quarter. All segments
have shown strong growth and we expect the momentum to continue,”
says Adlabs Films chairman and managing director Manmohan
Shetty.
For the 12-month period, consolidated revenues grew by 166
per cent to Rs 3.48 billion. While net profit rose 158 per
cent to Rs 730 million, EBIDTA at Rs 1.01 billion grew by
100 per cent.
Adlabs'
board also approved the extension of the company's current
financial year from 31 March to 30 June 2007. The company
currently has a market capitalisation of over Rs 17 billion.
Adlabs
has got in-principle approval for amalgamation of its wholly
owned subsidiary, Katch 22 Entertainment Pvt Ltd, ('Transferor
Company'), pursuant to a scheme of arrangement ("Scheme")
under Sections 391-394 of the Companies Act, 1956. As the
company holds 100 per cent of the share capital of the `Transferor
Company', there will be no issue of shares pursuant to the
Scheme.
Adlabs
Films has appointed Amit Khanna and Sujal Shah as additional
directors to hold office up to the date of the next annual
general meeting.
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