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Adlabs records 131 pc revenue growth in Q2; net profit at Rs 21 cr

30-October-2007
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Adlabs records 131 pc revenue growth in Q2; net profit at Rs 21 cr

Adlabs Films Ltd, a member of the Reliance Anil Dhirubhai Ambani Group, has announced its results for the quarter ended September 30, 2007. The company’s year-on-year consolidated revenue grew by 131 per cent to Rs 166 crore. Net profit stood at Rs 21 crore.

Adlabs’ cinema division grew by 71 per cent to Rs 41 crore. The company is now operating 110 screens and 35 properties across the country. The film processing and services division recorded a 6 per cent increase at Rs 22 crore, while the film production and distribution business contributed Rs 81 crore.

Commenting on the company’s performance, Manmohan Shetty, Chairman and Managing Director, Adlabs Films Ltd, said, “This quarter has been one of consolidation, and the platform has been built for aggressive growth ahead. However, performance has also been affected by the release of some films that did not perform as per expectations. On a positive note, we have further firmed up our position as the largest cinema chain in the country, and by Diwali, we will have 125 screens across India. We also have aggressive new business plans in the services division as well as some promising film releases during the next few quarters.”

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