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MUMBAI:
UTV Software Communications has posted a consolidated net
profit of Rs 231 million for the quarter ended 31 December
2007, a phenomenal growth of 1,055 per cent as compared to
the corresponding quarter last fiscal.
During the period, the company's operating revenue grew 183
per cent year-on-year at Rs 1.23 billion while operating income
grew 1,050 per cent at Rs 230 million in the previous year.
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 Ltd, and UTV-Mauritius and
UTV's joint venture Windmill Entertainment Ltd.
UTV
Software Communications CEO Ronnie Screwvala said, "Our
revenue and profit growth in this quarter further solidifies
the UTV growth story and proves that we are delivering on
the high-growth trajectory which we have been strategically
investing since the past six quarters. "
"Our
movie business has again witnessed a triple revenue growth
for this quarter over Q3FY07. Our focus has always been on
pleasing our customers through intriguing and interesting
concepts where we have experimented with multi-genre, multi-budget
and multi-language films."
"We
have made sincere efforts to revamp our television content
business where we are currently forming multiple joint ventures
with well-known names like Smriti Irani and Shekhar Suman
jointly producing shows for various channels. This will be
in addition to the existing television business currently
undertaken by the Company. We plan strong growth through our
partnering initiatives," he said.
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