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UTV
Software Communications Ltd. has posted a consolidated net profit
of Rs 34 million for the quarter ended 30 June 2006, same as in
the year-ago period.
While
revenue rose seven per cent to stand at Rs 523 million, operating
profit was at Rs 46 million. The company has consolidated the financials
of post production outfit United Entertainment Solutions Ltd (UESL),
UTV-US, UTV-UK and UTV-Mauritius. The board of directors, in its
meeting held today, have taken on record the un-audited consolidated
financial results of the company and its subsidiaries.
Commenting
on the quarterly results, UTV CEO Ronnie Screwvala said, “The first
quarter of the current fiscal has witnessed a marginal growth in
revenues over the same quarter last year. This growth is largely
driven by the new shows in the television and A&S segments and
film revenues have largely remained flat as most of our releases
for this fiscal are during the third and the fourth quarter.
The
margins of the company haven’t shown a corresponding increase mainly
because the new shows introduced would take some time to mature
in TV and airtime sales business. In our animation business, during
past few quarters we have focused on overall scale by strengthening
order book, moving up the value chain by entering into production
of DVD and theatrical movies and expansion of facilities. These
investments are expected to translate into higher revenues and margins
going forward.”
The
UTV scrip shed 4.01 per cent to close today at Rs 167.35 in the
BSE. Even in the NSE, it lost 4.23 per cent to end at Rs 167.60.
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