Mukta Arts posts net loss of Rs 18 million in Q4

MUMBAI: Subhash Ghai promoted Mukta Arts has posted a net loss of Rs 18.36 million (Rs 1.83 crores) for Q4 period ending 31 March 2009. The company had posted a net profit of Rs 112.16 million (Rs 11.21 crores) in the same period last year.

Net sales of the company during January – March quarter of FY ’09 fell to Rs 251.01 million (Rs 25.10 crores) from Rs 433.36 million (Rs 43.33 crore) of the same quarter of 2007-08 fiscal, down 47 per cent.

For the financial year ended 31 March, 2009, Mukta Arts posted a net profit Rs 43.80 million (Rs 4.38 crores), as compared to Rs 130.20 million (Rs 13.02 crores) a year earlier.

Mukta Arts’ film titled Paying Guests is ready for release. The film has been held up due to the on-going tussle between the multiplexes and Hindi film producers and distributors over revenue sharing terms.