MUMBAI:B.A.G Films Limited announced its financial results for the quarter ended 31 December 2006. The company, with a presence in the programming, films and new media business segments besides running a media school, has delivered strong financial and operating growth on a quarterly basis.
In Q3 FY 2007 (October – December 2006), B.A.G. FilmsÃƒÂ¢Ã¢â€šÂ¬Ã¢â€žÂ¢ net income from sales / operations appreciated 20 per cent to Rs 109 million. The operating profit before interest depreciation and tax (PBIDT) also increased 22 per cent to Rs 24 million. Profit after tax was higher by 33 per cent to Rs 12 million.
B.A.G. Films Limited managing director Anurradha Prasad said, ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œOur performance in the quarter ended December 31, 2007 has been quite satisfactory. This quarter we have started two new shows – Ankhiyon Ke Jharokhon Se for Star Plus and Yeh Vaada Raha for ARY Channel, Dubai. Our two feature films Zindaggi Rocks starring Sushmita Sen, Shiney Ahuja, Maushmi Chatterjee and Kim Sharma and directed by Tanuja Chandra and Mannat in Punjabi starring Jimmy Sheirgill, Kulraj Randhawa, Kanwaljeet Singh and Deep Dhillon and directed by Gurbir S Grewal were released this quarter. The response has been encouraging. Recently the shoot of our another feature film Ami, Yasir Aar Amar Madhubala in Bengali also got over within the designated timeframe. The film is being directed by Budhadeb Das Gupta and starred by Prasanjit Chatterjee and Samira Reddy.”
“During this quarter the company has also signed an MOU with FTII, Pune for forging alliance with our media institute ISOMES, which is a great achievement. Going forward, we are confident of continuing to achieve healthy revenue and profitability growth,” she added.
With the change in the licensing regime for FM radio broadcasting services, B.A.G Films has planned an entry into this high growth area. The company has set up a wholly owned subsidiary – B.A.G Infotainment Private Limited for its FM foray. The work on the installation and setting up all the stations is in full swing and the company is targetting to launch all the 10 stations before June 2007 in a phased manner.
Financial institution IDBI has taken up 10 per cent stake in B.A.G Infotainment Private Limited amounting to Rs 20 million (Rs 2 crores).