MUMBAI: Moser Baer India has posted a net profit of Rs 788.27 million (Rs 78.82 crore) for the year ended 31 March 2007 as compared to net loss of Rs 64.71 million (Rs 6.47 crore) last year.
Total income has increased from Rs 17199.57 million (Rs 1719.9 crore) for the year ended 31 March 2006 to Rs 20606.52 million (Rs 2060.6 crore) last year.
The newly formed entertainment business of the company is expected to generate revenues in the range of $ 50 to 60 million during FY08 and plans are to spend $ 100 million in capex over the next three years. The company also plans to take its total catalogue to over 12,000 titles including over 150 new titles across all languages.
Moser Baer CEO entertainment business Harish Dayani says, “The initial response for Moser Baer home video titles has been very encouraging. So far we have only launched around only five per cent of our titles and we are very optimist about the future of this business. We are on track to achieving targets set out at the launch of this business viz. $ 200 million revenue by the third year.”
During the quarter, the company rolled out its home video foray across the country with a national launch. As part of its business strategy of building a three-tiered channel, the company has lined up 21 C&FAs, 400 distributors across the country and stocks are now available in over 50,000 outlets, including stationery shops, telecom shops, kirana shops and regular audio and video outlets. The company plans to acquire more titles and continue a phased roll out in different regions of the country over the next few months.
The company plans to reach to over 150,000 outlets, and expand its distributor network further to 500, and also open its exclusive franchisee outlets in various parts of the country to make available its full range of titles in all the languages in the coming year. The entertainment division is also looking at various opportunities, beyond the recently announced new film projects, 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.