Others B.A.G. Films posts 73% increase in net profit in Q2

B.A.G. Films posts 73% increase in net profit in Q2

Author | exchange4media Mumbai Bureau | Wednesday, Nov 02,2005 8:05 AM

B.A.G. Films posts 73% increase in net profit in Q2

B.A.G Films Limited, a leading production house and media company, has turned in impressive results for the second quarter ended September 30, 2005. Sales in Q2 improved by a healthy 118 per cent to Rs 122.6 million. Net profit after tax was higher by 73 per cent at Rs 8.3 million translating to a non-annualized EPS for the quarter of Rs 0.14. Net cash profit excluding depreciation incurred post the completion of the construction of the external structure for the company’s proposed Convergence Complex has strengthened by a robust 143 per cent.

B.A.G. Films has a presence in programming, films and new media business segments besides promoting a media school.

Commenting on the performance, Anurradha Prasad, Managing Director, B.A.G. Films, said, “I am delighted with the healthy revenue and profitability growth delivered in the quarter. The performance of our programming business continues to be encouraging. Our plans for our film business are progressing well. I believe B.A.G. Films is optimally positioned to leverage the numerous exciting opportunities in the media and entertainment industry.”

In the programming segment, Sansani on Star News channel presently enjoys over 30 per cent market share and is a leader in the 11.00 pm slot across all channels. The company is in dialogue with all leading channels with regard to the launch of new programmes across genres.

Scripting and casting is also in progress for three feature films, namely, ‘Rockin’ starring Sushmita Sen and Shiney Ahuja and directed by Tanuja Chandra; a second film starring Vidya Balan and directed by Saurabh Narang; and a Punjabi film with Jimmy Shergill as the lead actor and Gurbir S Grewal as director.

The new media business segment continues to perform encouragingly. The company is exploring opportunities to expand its presence in this fast growing segment.

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