Baba Arts posts net profit of Rs 14.22 mn

MUMBAI: Baba Arts Limited has posted a net profit of Rs 14.22 million (Rs 1.42 crore) for the quarter ended 31 December 2006.

According to a company release, net profit has climbed 67.8 per cent to Rs 28.7 million (Rs 2.87 crore) from Rs 17.1 million (Rs 1.71 crore) last year, for the nine months since the start of the financial year.
Total income for the quarter just ended has increased 9.5 per cent to Rs 58.48 million (Rs 5.84 crore), while earnings per share is Rs 1.42 per share, says the release.

The Q3 numbers include income and profit from the company’s first Tamil film Nenjirukkum Varai, released in December 2006.

Baba Arts has recently signed an agreement with Moser Baer Limited to exclusively manufacture, market and distribute over 450 Telugu titles of the company. The agreement entitles Moser Baer to exclusively manufacture, market and distribute VCDs and DVDs of these titles in the Indian market for a period of eight years.

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