DQ Entertainment H1 08 revenues up 62% to $14.40 million

Mumbai: DQ Entertainment has reported a 62 per cent increase in revenues for the six months ended 30 September 2008. The company’s revenues for the period stand at $14.40 million.

EBIDTA was up 115 per cent to $4.10 million and profit before tax stood at $ 0.4 million. The company’s order book is currently at $95 million including amounts already billed in the current year.

Over the last six months, DQ Entertainment has inked agreements with Turner Entertainment for two original TV features Baalkand and Ravan; with Nickelodeon for distribution of TV series Casper; and with Disney Channel for distributing Twisted Whiskers, Sandra and Ratman.

The company has also signed co-production deals with M6 Studio, France and Method Animation SA, France for the TV series Little Nick; LPPTV, France and Method Animations SA, France supported by France Televisions for the TV series Little Prince; production of a TV series Geronimo Stilton with Atlantyca Entertainment, Italy.

DQ Entertainment chairman and CEO Tapaas Chakravarti said, "Demand for our work continues to remain high with levels of new business referrals and contract renewals strong. The market for animation and gaming content has been largely unaffected by the current banking crisis with the majority of our contracts running over a 2-3 year period with budgets already agreed and allocated. We do however remain ever mindful of the pressures facing the broader media sector at present and continue to evaluate our cost base and focus on delivering the highest levels of customer service and operational excellence."

 

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