BAG Films & Media has registered 26 per cent fall in net profit at Rs 4.18 crore for the financial year ended March 31, 2008 as compared to Rs 5.62 crore in the corresponding period last year. The erosion in net profit was attributed to 223 per cent higher depreciation to Rs 6.06 crore in the investment made in creating infrastructure and technology during the year under consideration.
During the fourth quarter, the company reported a loss of Rs 0.96 crore on widening depreciation on infrastructure and technology creation, which jumped by 470 per cent to Rs 5.05 crore.
Commenting on the performance for Q4 FY 2008, Anurradha Prasad, Managing Director, BAG Films and Media Ltd, said, “Our performance in the quarter ended March 31, 2008 has been quite satisfactory. New programming and strong emphasis on cost control measures have yielded higher top line and bottom line, respectively. This quarter, we have successfully launched one more television channel, E-24, which is a genre breaker and aims at covering everything in Bollywood. Our first channel News-24 is doing well and has already achieved good TRPs and market share. Both these channels have been launched through our subsidiary companies. Going forward, we are confident of continuing to achieve healthy revenue and profitability growth.”
In FM radio, the channel already has 10 FM radio licenses under the name Dhamaal 24 through its subsidiary BAG Infotainment Pvt Ltd in the cities of Hissar, Karnal, Patiala, Shimla, Muzaffarpur, Ranchi, Jabalpur, Jalgaon, Dhule and Ahmednagar, out of which nine stations are already operational. The station in Shimla is yet to be launched as the transmitter in the city has not yet been installed by the authorities.