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MUMBAI:
B.A.G Films and Media has posted a stand-alone net profit
of Rs 11.4 million for the quarter ended 30 September 2007,
up 45 per cent as compared to Rs 7.86 million a year ago.
Net
income during the quarter was marginally up at Rs 120.56 million,
from Rs 118.56 million for the corresponding quarter last
fiscal.
"While
there wasn't much jump in the income for the quarter, net
profit went up significantly mainly because cost of productions
came down," said a B.A.G executive.
The
company, however, saw a net loss of Rs 7.32 million on a consolidated
basis. Net income stood at Rs 121.5 million for the quarter
ended 30 September 2007.
The
consolidated net loss was due to the radio business which
started operations during the quarter.
Commenting
on the company's performance B.A.G. Films and Media Limited
MD Anurradha Prasad said, "Our performance in the second
quarter has been quite satisfactory. Strong emphasis on cost
control measures have yielded higher bottom line. Going forward,
we are confident of continuing to achieve healthy revenue
and profitability growth."
An
official release said that B.A.G Films and Media Limited is
launching its first TV channel News 24 next month through
its subsidiary. Within the next quarter the company is launching
its second channel called E-24.
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