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MUMBAI:
UTV Software Communications Limited has posted a consolidated
net profit of Rs 176 million for the quarter ended 30 September
2007, up 335 per cent compared to Rs 40.37 million in the
corresponding quarter last fiscal.
This
has come on the back of strong growth in the movie business
as revenue has jumped 89 per cent to Rs 735.2 million.
Said
UTV Software Communications CEO Ronnie Screwvala, "Our
movie business has witnessed a triple digit revenue growth
this quarter over Q2 FY07 and has kicked off the strongest
multi-year movie pipeline in the company's history."
UTV's
consolidated financial include its subsidiaries UTV-US, UTV-UK,
UTV-IOM and its indirect subsidiaries Ignition Entertainment
and UTV-Mauritius.
During
the first and second quarters of the current fiscal, UTV transferred
its movie business to its subsidiary and consequently the
results are not strictly comparable. Also, during the quarter,
UTV launched its Hindi youth channel 'Bindass' and movie channel
'Bindass Movies'.
However,
on a stand-alone basis, UTV's net loss stood at Rs 28.44 million
for the second quarter as against a net profit of Rs 4.9 million
a year ago.
Revenue
during the quarter was at Rs 376.4 million, up 23.65 per cent
from Rs 304.4 million.
UTV
scrip ended 1.57 per cent up at Rs 680.90 on the BSE.
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