MUMBAI: For the year ended 31 March, 2007, Baba Arts posted a net profit of Rs 30.9 million, while its total income stood at Rs 186.5 million. The company posted a net profit of Rs 7.6 million for the quarter ended 30 June, 2007.
Baba Arts saw a 382.43 per cent year on year jump in its total income for the quarter ended 30 June, 2007, at Rs 150.6 million from Rs 31.2 million for the corresponding period last year.
The intellectual property rights (IPR) segment contributed up to 76 per cent, or Rs 113.9 million, to the top line.
“The company currently holds satellite and other rights of several films, whose total cost of acquisition has already been written off, so that when Baba Arts exploits these rights in the future, almost 100 per cent income will go straight to both the top line and the bottom line,” said Baba Arts Limited chairman and managing director Gordhan Tanwani.
Recently, Baba Arts acquired the copyrights, excluding theatre and music rights, of the new live-action animated film My Friend Ganesha for a period of 11 years. These include: the worldwide video rights; worldwide rights for all TV formats; theatrical rights outside India; Internet and broadband rights; air borne and high seas rights; and mobile rights.
Baba Arts has already sold the satellite rights and merchandising and licensing rights to Star India. The company has also acquired rights for Hindi movies like Krrish, Bhagam Bhaag, Honeymoon Travels, Zinda, and others on state channel Doordarshan.
Baba Arts is has four divisions dealing in Intellectual Property Rights, film production, home video and post production. The company also plans to venture into the business of acquisition of various rights for the South Indian film industry, viz., home video rights, overseas rights, and audio rights.
Baba Arts steps up on IP rights’ space