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Adlabs Films Q2 Results: Net loss at Rs 207.7 million

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Adlabs Films Limited (ADLABS), a member of the Reliance Anil Dhirubhai Ambani Group and the leading entertainment conglomerate in the country, announced its results for the quarter ended September 30th 2008.

ADLABS has posted a consolidated net loss of Rs 207.66 million for the quarter ended 30 September 2008, as compared to a net profit of Rs 210.37 million in the prior year quarter.

Total income has increased to Rs 2.64 billion for the quarter under review, as against Rs 1.65 billion in the corresponding quarter.

The results of the current quarter include amounts pertaining to radio division, Big FM. “Hence the figures for the current quarter are not comparable to those of the comparative quarter and previous period ended 31 March 2008,” the company said.

Reliance ADAG’s FM radio venture Big FM has posted a consolidated loss (before interest and tax) of Rs 175.96 million on a revenue of Rs 408.66 million for the second quarter.

Revenues across all divisions of the company logged strong growth in the quarter:

Cinema division grew by 119 per cent to Rs 89 crore.
Film processing and services division recorded a 75 per cent increase at Rs 38 crore.
Film production and distribution business contributed Rs 70 crore.
Television content business has increased significantly to Rs 14 crore from Rs 1 crore last year.

Anil Arjun, Chief Executive Officer, Adlabs Films Ltd. commented on the performance, saying, “All business segments have recorded strong growth. Film production and distribution business has had successful releases in Singh is Kinng and Rock On!. Our exhibition chain BIG Cinemas has crossed a milestone of 400 screens worldwide. Film Processing and Services has gained significantly in the areas of DI, Restoration and equipment rentals. With the onset of Diwali season, we expect all segments to see strong growth in the coming quarter“.

October 25, 2008 · Filed Under Adlabs 
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