Shree Ashtavinayak Q2 net up at Rs 65.76 million

MUMBAI: Shree Ashtavinayak Cine Vision Limited has posted a net profit of Rs 65.76 million for the quarter ended 30 September 2008, up from Rs 10.05 million in the corresponding quarter of the previous year.

Total income during the quarter has increased to Rs 413.01 million, from Rs 132.45 million in the year ago period.

Shree Ashtavinayak has made a profit of Rs 85 million on a revenue of Rs 405 million from in-house film production and distribution. However its outside film distribution has incurred a loss of Rs 8.04 million.

Expenditure has jumped to Rs 341.46 million in the second quarter of FY‘09, as compared to Rs 122.78 million in the corresponding quarter of last year. The company has spent Rs 281.35 million on amortization of intangible assets (film production and distribution rights).