News Broadcasting
Bag Films reports a Q1 gross profit of 20.52 mn
MUMBAI: BAG Films Limited recently announced its results for the quarter ended 30 June 2004.
Highlights of the quarter:
-Net revenue increases 57 per cent to Rs. 686.87 lacs compared to Rs. 438.09 lacs.
-Revenues from Audio-Visual Production appreciate 56 per cent to Rs 684.53 lacs.
-Revenues from infrastructure and equipment hire grew 265 per cent to Rs 2.34 lacs.
-Gross profit appreciates 51 per cent to Rs 205.28 lacs from Rs 136.32 lacs.
-PBIDT improves 39 per cent to Rs. 107.36 lacs from Rs. 77.08 lacs.
As stated during its IPO, B.A.G. has deployed the proceeds of its Public issue of September 2003 towards new infrastructure and programming initiatives. This is also in line with the Companys objective of becoming a debt free company. As a result, interest costs were marginal in the quarter under review.
Commenting on the performance for Q1 FY 2005, BAG Films managing director Anurradha Prasad says: During the first quarter of the current financial year, we have endeavored to enhance our presence across all our business segments. These initiatives will contribute towards B.A.G. Films objective of becoming a large and dominant player in the media sector. The response from the student fraternity to the launch of iSomes has been overwhelming. I remain confident of B.A.G. Films delivering strong operating and financial performance going forward
The company is also pursuing opportunities in various new media avenues such as DVD, video streaming, wireless transmission and the internet besides identifying new uses for existing technologies such as digital libraries, interactive story telling, and distance learning
During the period under review, the Company initiated Region based IVR Services in Tamil and Kannad in partnership with BPL Mobile. It has also begun providing voice-based Hindi and English content to BPL Mobile for its Mumbai subscribers.
Additionally, the Company has begun providing SMS content to STAR Television for Companys News and Astrology based 7827 services.
BAG is also amongst the first entities in the country to enter the high potential and lucrative video streaming segment.
In May 2004, the Company began providing fifteen-second video clips to Airtel these include movie promotions and snippets from popular events like Lakme India Fashion Week.
