MUMBAI: Moser Baer India has posted a net profit after taxes of Rs 96.42 million for the quarter ended
The company’s total income has increased from Rs 4880.91 million for the quarter ended 30
The company expects to achieve $50-60 million of revenues in the current fiscal its entertainment business. During the quarter, the company continued its pan-India rollout and launched its products in Andhra Pradesh and completed the national rollout with the launch in
As part of its business strategy of building a three-tiered channel, the company has lined up 21 C&FAs, 450 distributors across the entire country and its products are now available in over 100,000 outlets, including stationery shops, telecom shops and regular audio and video outlets. The company plans to acquire more titles in the coming quarters.
Moser Baer India entertainment business CEO Harish Dayani said, “We have recently successfully completed the pan-India launch of our business. The success of the business model is becoming evident as we continue to see demand far higher than anticipated. While the business has started contributing to revenues, we are very confident that the business will start significantly contributing to the Company’s profitability by the end of the fiscal year.”
Currently the Indian home video accounts for a mere eight per cent of the total film revenues of Rs 84.50 billion (Rs 8,450 crore), which is low compared to global standards. The
Moser Baer’s entertainment division is also looking at various selective opportunities in areas like content creation including non-film content, content distribution in other than physical forms like digital distribution and content aggregation and syndication, and explore possibilities to launch home video products in the overseas markets.
The company is to spend $100 million in capex over the next three years on the entertainment business.