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Our Bureau

Mumbai , Feb. 1

CREST Animation Studios Ltd reported a net profit of Rs 46 lakh during the December 2005 quarter against a loss of Rs 50 lakh crore in the year-ago period.

Revenues for the quarter moved up by nine per cent to Rs 7.29 crore from Rs 6.69 crore for the corresponding quarter of the previous year. Profit before depreciation, interest and tax (PBDIT) at Rs 2.42 crore grew by 28 per cent.

The company's board also approved raising $ 12 million through the issue of FCCB. "These funds are primarily being raised for part financing of three feature films,'' the company said.

For the nine months ended December 31, 2005, Crest reported revenues of Rs 21.58 crore, up 6 per cent from Rs 20.35 crore during the corresponding period last year. Net profit jumped to Rs 6.05 crore from Rs 63 lakh in the year-ago period.

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