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MUMBAI:
UTV Software Communications has posted a consolidated net
profit of Rs 270.75 million for the quarter ended 31 March
2008, up 140 per cent as against Rs 113.12 million in the
corresponding quarter last fiscal.
During
the quarter operating revenue grew by 363 per cent to stand
at Rs 1.87 billion as compared to Rs 403.75 million.
Revenue
from the company’s film business brought Rs 1.10 billion,
while revenue from the television segment stood at Rs 282.52
million. Revenue from interactive business which includes
animation and gaming was at Rs 518.50 million.
The
company has consolidated the financials of UTV-US, UTV-UK,
UTV-IOM and UTV BL and the group's indirect subsidiaries Ignition
Entertainment Limited, Indiagames Limited, UTV-Mauritius,
UTV's television joint ventures Smriti Irani Television Limited
and Windmill Entertainment Limited.
UTV
Software CEO and chairman Ronnie Screwvala, said, "We
have been successful at developing an expanded opportunity
pipeline resulting from our re-entry into the broadcasting
business, our recent gaming acquisitions in the Interactive
vertical, our TV joint ventures and our enviable slate of
movies in Hindi and Hollywood space. The long term outlook
is better than ever, given the initiatives that we are implementing
in all our four verticals i.e. Television, Movies, Interactive
and Broadcasting. We have also further strengthened our team
during the quarter in order to ride the anticipated growth.
Above all, increase in strategic stake by Disney demonstrates
the confidence we and others have in our company and shows
our commitment to maximizing long-term shareholder value.”
“Our
Movie business has started realizing the benefits of its IP
focus and studio model approach which have actually exceeded
our expectations. This quarter has again witnessed a triple
revenue growth which is a result of our perseverance and commitment
to produce and entertain our viewers with good quality cinema,”
he added.
The
company says it has made efforts to revamp their television
content business where it is currently following inorganic
growth. The Company's own broadcasting business and a few
inorganic growth opportunities will further fuel the growth
of this business.
“Our
Interactive business comprising animation and gaming is a
truly global business model, with little dependence on Indian
market. In the fast growing interactive space in South East
Asia, we are the first Indian players to be present across
all platforms for games i.e. consoles, mobile and online.
We are currently developing our own high end console games
and mobile games and reducing dependence on pure publishing
and distribution business. Therefore, what we see now is merely
the beginning of the high growth trajectory in the years to
come,” said Screwvala.
The
company has launched a bouquet of four channels Bindass, Bindass
Movies, UTV Movies and World Movies.
Added
Screwvala, “In this fragmented industry, success is about
finding opportunities and need gaps giving the Company a first
mover advantage which gives one an edge over competition.
This is the approach the Company has adopted in its broadcasting
business. The Company has also successfully built its own
distribution platform for all its channels ground up which
has exceeded all expectations by providing excellent connectivity
and reach to all channels since launch."
The company has posted a consolidated net profit of Rs 768
.11 million for the fiscal ended 31 March 2008, up 271 per
cent as against 470.39 million in the year ago period. During
the year, revenue grew 150 per cent to stand at Rs 4.37 billion
from Rs 1.79 billion in FY'07.
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