BAG Films and Media Ltd has reported a stand-alone net profit of Rs 1.14 crore for the quarter ended September 30, 2007, up 45 per cent as compared to Rs 78.6 lakh in the corresponding quarter of the previous fiscal. The company’s net income during the quarter was marginally up at Rs 12 crore, from Rs 11.8 crore for the corresponding quarter last fiscal.
Commenting on the performance for Q2 FY08, Anurradha Prasad, Managing Director, BAG Films & Media Ltd, said, “Our performance in the quarter ended September 30, 2007 has been quite satisfactory. Strong emphasis on cost control measures have yielded higher bottom line. Going forward, we are confident of continuing to achieve healthy revenue and profitability growth.”
Meanwhile, BAG is all set to launch its first news channel, News 24, next month through its subsidiary. Within the next quarter, the company is launching its second channel called E-24.
BAG already has 10 FM radio licenses under the name Radio Dhamaal through its subsidiary BAG Infotainment for Hissar, Karnal, Patiala, Shimla, Muzaffarpur, Ranchi, Jabalpur, Jalgaon, Dhule and Ahmednagar, of which six stations are already operational.