MUMBAI: B.A.G Films & Media Limited has posted a net profit of Rs 7.85 million for Q1 FY 2008 (April – June 2007), which was up 41 per cent from the corresponding period last year.

B.A.G. Films Limited managing director Anurradha Prasad said, “Our performance in the quarter ended 30 June, 2007 has been quite satisfactory. Strong emphasis on non-broadcast business and cost control measures have yielded higher top and bottom line respectively. Going forward, we are confident of continuing to achieve healthy revenue and profitability growth.”

The company’s operating profit before tax (PBT) increased 35 per cent to Rs 11.85 million. Cash profit also increased by 63 per cent to Rs 20.75 million.

B.A.G. Films’ nNet income from sales / operations appreciated to Rs 91.91 million from 87.65 million.

BAG Films has bagged two daily soaps one on Zee Next and second on soon to be launched INX channel. Both these soaps are slated to start in before the end of this year.

BAG’s new feature film Ami, Yaseen Aur Amaar Madhubala (in Bengali) starring Prasanjit and Samira Reddy and directed by world renowned Budhadeb Das Gupta is slated for the world premiere at Ontario Film Festival in Canada.

BAG Films & Media Limited has also ventured into FM radio business by the name of Radio Dhamaal at 106.4 FM through its subsidiary B.A.G. Infotainment (P) Limited wherein it has bagged 10 FM Radio licenses in the cities of Hissar, Karnal, Patiala,Shimla, Muzaffarpur, Ranchi, Jabalpur, Jalgaon, Dhule and Ahmadnagar out of which four stations in the cities of Hissar, Karnal, Patiala and Muzzafarpur have been operationalised. 

The company has also ventured into broadcasting business through two of its subsidiaries B.A.G. Glamour (P) Limited and B.A.G. Newsline Network (P) Limited wherein the company proposes to launch four television channels in entertainment and news segment. The company has already applied for the uplinking facility with the Ministry of Information and Broadcasting. At present the company is in the process of setting up the infrastructural facility for the same and hopes to launch these channels before the end of October, 2007.