BAG Films & Media Ltd has posted a net profit of Rs 7.85 million, up 41 per cent. Cash Profit has also increased by 63 per cent to Rs 20.75 million, while net income from sales and operations appreciated to Rs 91.91 million from Rs 87.65 million.
The company, with a presence in the programming, films and new media business segments, besides running a media school, has delivered strong financial and operating growth on a quarterly basis.
Commenting on the performance for Q1 FY 2008, Anurradha Prasad, Managing Director, BAG Films Ltd, said, “Our performance in the quarter ended June 30, 2007 has been quite satisfactory. Strong emphasis on non-broadcast business and cost control measures has yielded higher top and bottom line, respectively. Going forward, we are confident of continuing to achieve healthy revenue and profitability growth.”
BAG Films has bagged two daily soaps, one on Zee Next and second on the soon-to-be-launched INX channel. Both these soaps are slated to commence before the end of this year. BAG’s new feature film ‘Ami,Yaseen aur amaar Madhubala’ (in Bengali) is slated for world premiere at the Ontario Film Festival in Canada.
The company has also ventured into broadcasting business through two of its subsidiaries – BAG Glamour (P) Ltd and BAG Newsline Network (P) Ltd – wherein the company proposes to launch four television channels in the entertainment and news segments. BAG Films has already applied for the uplinking facility with the I&B Ministry. At present, the company is in the process of setting up the infrastructural facility for the same and hopes to launch these channels before the end of October 2007.