Adlabs Films reports consolidated revenues of Rs 2.54 bn

Mumbai: Reliance Anil Dhirubhai Ambani Group’s Adlabs Films reported consolidated revenues of Rs 2.54 billion (Rs 254 crores) for the quarter ended 30 June 2008, which have grown by 217 per cent.

EBIDTA grew by 27 per cent to Rs 440 million (Rs 44 crores). Profit before tax was Rs 60 million (Rs 6 crores) after providing for increased depreciation and interest on account of radio.

Revenues across all divisions of the company logged strong growth in the quarter as compared to the corresponding quarter last year.

The cinema division grew by 184 per cent to Rs 780 million (Rs 78 crores). The film processing and services division recorded a 48 per cent increase at Rs 300 million (Rs 30 crores). The film production and distribution business increased by 372 per cent contributing Rs 530 million (Rs 53 crores). Also, the television content business went up by 727% at Rs 170 million (Rs 17 crores).

The current quarter includes the results of the radio operations for the first time, and hence may not be comparable with the earlier years. Adlabs’ radio business contributed Rs 510 million in revenues. Consequently, there has been a significant increase in the depreciation and interest charge in this quarter.

Adlabs chief financial officer Venkat Devarajan said, "All our businesses have recorded strong growth. Our content and distribution business has delivered strong revenues due to successful releases such as Sarkar Raj. Our exhibition division continues to expand at a rapid pace, both in India and internationally. Television business, Synergy Adlabs has grown significantly in scale and has produced successful shows, the latest being Dus Ka Dum. Traditionally, the second half of the year is very good for the entertainment business. With our service businesses, consumer-facing businesses such as cinemas and radio, and a slate of films, which includes Singh is Kinng, we expect to see good quarters going ahead."