The Hindu Business Line : Crest Animation Studios turnaround continues

MUMBAI: Crest Animation Studios Limited has continued its turnaround performance reporting a net profit of Rs 54.99 lakh during the second quarter of the current fiscal as compared to a loss of Rs 1.12 crore in the year-ago period.

Total income during this quarter moved up by 74 per cent to Rs 7.13 crore as compared to Rs 4.11 crore in the year-ago period.

Operating profit margin has surged to 38.06 per cent during the September ended quarter from 15.28 per cent in the corresponding quarter of the previous year.

For the six months ended September 2004, total income at Rs 14.01 crore is up by 64 per cent as compared to Rs 8.54 crore for the first half of the previous year.

"A part of our capacity has been engaged in undertaking tests for some of the most reputed studios in the US. This pursuit has already helped us bag both challenging and prestigious contracts — the work that we are currently doing for American Greetings and also a leading toy franchise is a result of such on going tests. Indeed, customers come for the quality that we provide. Cost is an added bonus," a press release said quoting Mr A.K. Madhavan, CEO, Crest.