B.A.G Films posts net profit of Rs 7.6 million

MUMBAI: Anurradha Prasad promoted B.A.G Films & Media Limited has posted a net profit after tax of Rs 7.64 million in Q4 2007, which was up 87 per cent from the corresponding period last year.

The company’s net income from sales / operations appreciated 68 per cent to Rs 126.62 million. The operating profit before interest depreciation and tax (PBIDT) also increased 115 per cent to Rs 27 million.

The company has a presence in the programming, films and new media business segments besides running a media school.

B.A.G. Films Limited managing director Anurradha Prasad said, “Our performance in the quarter ended 31 March, 2007 has been quite satisfactory. Strong emphasis on non-broadcast business and cost control measures have yielded higher top and bottom line respectively. Going forward, we are confident of continuing to achieve healthy revenue and profitability growth.”

For FY 2007 (April 2006  – March 2007), the company’s operating PBIDT increased 28 per cent to Rs 82 million. Cash profits rose by 16 per cent to Rs 93 million. Profit after tax was higher by 10 per cent to Rs 33.60 million. Net income from sales / operations appreciated four per cent to Rs 441.42 million from Rs 423.87 million last year. The Board has recommended a dividend of 10 per cent to the shareholders.

The company’s new Bengali film Ami, Yaseen Aur Amaar Madhubala starring Prasanjit and Sameera Reddy and directed by Budhadeb Das Gupta is complete and slated to be released soon in India and overseas.

BAG Films & Media Limited also forayed into the FM radio business by the name of Radio Dhamaal at 106.4 FM through its subsidiary B.A.G. Infotainment, wherein it has bagged 10 FM Radio licenses in the cities of Hissar, Karnal, Patiala, Shimla, Muzaffarpur, Ranchi, Jabalpur, Jalgaon, Dhule and Ahmadnagar. On 18 June, 2007 first two cities of Hissar and Karnal have been operationalised.

The company has also ventured into broadcasting business through two of its subsidiaries B.A.G. Glamour and B.A.G. Newsline Network wherein plans are to launch four TV channels in entertainment and news segment. The company has already applied for the uplinking facility with the Ministry of Information and Broadcasting. At present the company is in the process of setting up the infrastructural facility for the same and hopes to launch these channels before the end of October, 2007.

B.A.G Films has entered into a joint venture with SIEUNDESIGN Co., Ltd., a leading Korean firm which has a presence in the production, distribution and licensing of animation movies and TV series. The JV is named SIEUN & B.A.G. Animation Pvt. Ltd., with both companies holding an equal stake.