The Hindu Business Line : 121 pc rise in Adlabs net

Adlabs Films Ltd has reported a 121 per cent increase in its profit after tax at Rs 12.06 crore for the June 2006 quarter. Total income grew by 177 per cent to Rs 59.48 crore.

"In its film processing business, the company has consolidated its dominant leadership position in this segment and has maintained its revenues. Chennai operations have picked up volumes and the proposed facility in Kolkata is expected to be operationalised shortly," Adlabs said.

`Encouraging performance'

The company was confident of sustaining the momentum over the next few quarters. "Our performance in Q1 FY07 has been very encouraging and we are confident of sustaining the momentum in the coming months."

The revenue and earnings reflect diversified baskets encompassing processing services, multiplexes, film production & distribution. "We would be continuing our forays in the other elements of the entertainment value chain and play an active role in this space," the company said quoting its CMD, Mr Manmohan Shetty.

Further plans

The multiplex business has posted a 142 per cent increase in revenue to Rs 13.24 crore. At present, the company is operating 40 screens in 11 properties. An additional roll out of 10 properties and 40 screens is expected in FY `07. At present, the total number of seats is 13,683 and an additional 12,117 seats would be added by the end of the fiscal. "An aggressive exhibition expansion continues to be the focus and it is expected that over 200 screens would be operational by FY 08-09," the company said. Income from film production and distribution was Rs 22.28 crore. During the quarter, the company released the Hindi film, Krrish and entered into a co-production partnership with Hyde Park, promoted by Mr Ashok Amritraj, marking Adlabs' foray into Hollywood.

Adlabs and the Chennai-based Ocher Studios have entered into a co-production agreement for a full-length animated feature film, which will star Tamil superstar Mr Rajnikanth. The project is being developed at international standards and marks Adlabs' foray into the animation space.

Shares of Adlabs fell by Rs 3.80 to Rs 227.60.

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