The Hindu Business Line : Compact Disc net revenue doubles

The Chandigarh-based animation company Compact Disc India Ltd has announced a doubling of net revenues for the year ending March 2008. Net revenues stood at Rs 102.73 crore, as against Rs 50.18 crore during the last fiscal. Its net profit more than doubled to Rs 19.50 crore from Rs 8.18 crore. The company is working on projects worth Rs 282 crore ($65.80 million). The performance in 2007-08 is due to initiatives on several fronts, notably in the areas of acquiring i nternational projects and deepening of core competencies in the field of 3D animation , said Mr Suresh Kumar, Chairman, CDI. At the board of directors meeting on Monday, it was decided that CDI should strictly remain within its core business area, that of animation films (outsourced or own productions). CDI has thus decided to withdraw itself from the production of live-action films. It has informed the stock exchanges that it will invest up to 15 per cent of the equity capital of Laser Infomedia Ltd, a promoter’s group company that plans to set-up a developing and publishing gaming software studio in New Delhi in collaboration with Golden Games Pte Ltd, Singapore in 2008-09.

— Our Bureau

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