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Mumbai Jan. 24 Adlabs Films Ltd, part of the Anil Ambani Group, posted a net profit of Rs 21.96 crore for the quarter ended December 31, 2006, a rise of 206 per cent over the same period last year.

Net sales were at Rs 77 crore (Rs 26 crore).

The jump in sales and profit can be traced to the company's new film distribution business, according to the Adlabs Chief Financial Officer, Mr V. Devarajan.

Traditionally, film processing has contributed 50-60 per cent of the company's revenues but the film distribution business has increased the scale of the company's operations.

Operating profit was Rs 68.6 crore, a jump of 420 per cent over the same quarter in the previous fiscal while total income was Rs 98.88 crore, a rise of 247 per cent. Expenditure rose 98 per cent.

The company's shares fell Rs 18 on the Bombay Stock Exchange, a loss of nearly 4 per cent, to close at Rs 434.7.

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