Adlabs posts profit of Rs 150 million

MUMBAI: Reliance Anil Dhirubhai Ambani Group’s Adlabs Films Limited has reported a net profit of Rs 150 million (Rs 15 crore) for the quarter just ended, an increase of 90 per cent over last year’s figures.

During the quarter, the company posted a growth of 174 per cent in consolidated revenues at Rs 10.60 billion (Rs 106 crore) as compared to Rs 390 million (Rs 39 crore) in the corresponding quarter of the previous year. EBIDTA stood at Rs 240 million (Rs 24 crore), up 88 per cent from Rs 130 million (Rs 13 crore) in Q4 FY 06.

The film processing and services division logged in 32 per cent year on year growth at Rs 200 million (Rs 20 crore). The exhibition division grew by 222 per cent year on year to Rs 200 million (Rs 20 crore), while the film production and distribution business saw a total income growth of 313 per cent to Rs 540 million (Rs 54 crore) this quarter year on year.

The Board of Directors of the company has also approved the extension of the company’s current financial year from 31 March 2007 to 30 June 2007.

The company has also proposed to roll out a video equipment rental business.