Adlabs Films posts net loss of Rs 268 million in Q3

Mumbai: Adlabs Films Ltd has reported a consolidated net loss of Rs 268.60 million (Rs 26.86 crores) in Q3 2009 as compared to a consolidated net profit of Rs 204.90 million (Rs 20.49 crores) in the same quarter last fiscal.

The company’s consolidated total income rose to Rs 2.48 billion (Rs 248.11 crores) for the quarter under review from Rs 1.29 billion (Rs 129.45 crores) in the same period previous fiscal. Adlabs has incurred a standalone net loss of Rs 335.40 million (Rs 33.54 crore) in December quarter 2008 as compared to a net profit of Rs 204.90 million (Rs 20.49 crores) in the same period previous year.

The standalone total income increased to Rs 1.83 billion (Rs 183.18 crores) during the third quarter in review from Rs 1.12 billion (Rs 112.70 crores) last year.

Adlabs Films CEO Anil Arjun said, "We have scaled our businesses and provide a comprehensive range of services to film clients. All business segments enjoy dominant leadership positions. During the quarter, our distribution division had a record-breaking successful release in Ghajini in the international markets."

The company’s Cinema division revenues grew by 139% to Rs 1.01 billion (Rs 101 crores), whereas film processing and services division recorded a 54% increase in revenues to Rs 370 million (Rs 37 crores).

Additionally, in order to unlock the potential of FM radio business, it has been proposed to demerge the FM Radio business with effect from 1 April, 2008; and at a meeting of the Equity shareholders of Adlabs Films held on 22 January, 2009, the resolution for approving the demerger of FM radio businesses was passed, unanimously. For the quarter ended 31 December, 2008, BIG 92.7 FM recorded a total income of Rs 490 million (Rs 49 crores).