Prime Focus Limited (PFL) reported 93.7 per cent growth in operating profit (EBIDTA) for the twelve month period between 1 April 2015 and 31 March 2016 (12M-16) as compared to the corresponding period of the previous year. The company reported EBIDTA for 12M-16 at Rs 329.7 crore (17.3 per cent EBIDTA margin of net sales or Total Income from Operations or TIO) as compared to Rs 170.2 crore (13 per cent EBIDTA margin of TIO) for 12M-15. TIO for 12M-16 increased 45.7 per cent to Rs 1,901 crore from Rs 1,304.4 crore in the corresponding 12 month period of the previous year. The company reported a higher loss of Rs 318.5 crore as compared to a loss of Rs 87.2 crore in the previous year. Notes: (1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be: (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore. (b) 10,000 lakh = 100 crore = 1 arab = 1 billion. (2) The company had filed results for a fifteen month period ended June 30, 2014, hence y-o-y comparison is being done between Q3-16 and Q3-15 and q-o-q comparison is between Q3-16 and Q2-16 (quarter ended 31 December 2015). Total Expenditure in 12M-16 increased 38.5 per cent to Rs 1,571.3 crore (82.7 per cent of TIO) from Rs 1,134.2 crore (87 per cent of TIO) in 12M-15. Personnel cost that included employee benefits expense and technicians fees in 12M-16 increased 36.1 per cent to Rs 415.3 crore (21.8 per cent of TIO) from Rs 305.2 crore (23.4 per cent of TIO) in the previous corresponding twelve month period. Finance cost in 12M-16 increased 65.7 per cent to Rs 107.4 crore (5.6 per cent of TIO) from Rs 64.8 crore (5 per cent of TIO) in 12M-15. Let us look at the numbers for Q3-16 For the quarter ended 31 March 2016 (Q3-16, current quarter), PFL reported 10.7 per cent year-over-year (y-o-y) growth in TIO at Rs 465.7 crore as compared to Rs 420.54 crore, but revenue declined by 0.8 per cent quarter-over-quarter (q-o-q) from Rs 468.52 crore. EBIDTA in the current quarter at Rs 160.20 crore (34.4 per cent EBIDTA margin of TIO) was 52.4 per cent higher y-o-y as compared to Rs 105.15 crore (25 per cent EBIDTA margin of TIO) and more than doubled (2.24 times) as compared to Rs 71.56 crore (15.3 per cent EBIDTA margin of TIO). The company’s loss in Q3-16 was higher both y-o-y and q-o-q. For Q3-16, PFL reported loss of Rs 80.10 crore, for Q3-15 loss was Rs 20.29 crore and for the immediate trailing quarter it was Rs 11.40 crore. For other numbers for Q3-16 and previous quarters, please refer to Figures A and B below.