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UTV Q1 net bleeds as expenses surge 29%

Bapun Raz

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MUMBAI: UTV Software Communications has reported net loss for the three-month period ended 30 June, as the company which has movies, broadcasting and gaming businesses, saw a 29 per cent surge in expenses while revenue dipped marginally.

UTV's first-quarter consolidated net loss stood at Rs 30.64 million, as against a net profit of Rs 41.19 million in the corresponding quarter of the previous fiscal.

Total revenue came down to Rs 2.06 billion, as against Rs 2.08 billion in the previous year.

UTV's expenses in the quarter rose to Rs 2.08 billion, from Rs 1.62 billion a year ago.



Movies

For the first quarter of FY'12, UTV has posted a revenue of Rs 593.6 million from its movie segment as against a whopping Rs 1.11 billion in the year-ago period that saw two big releases - Rajneeti and I Hate Luv Stories.

UTV reported an operating profit of Rs 12.12 million from the segment, as against a profit of Rs 522.40 million a year ago.

UTV has deployed a capital of Rs 3.78 billion for movies.

Television

UTV’s television business has continued to show strong revenue growth. For the first quarter also the television segment posted revenue of Rs 903.3 million as compared to Rs 712.4 million a year ago.

However, the company suffered operating loss of Rs 14.76 million as against a profit of Rs 43.63 million in the earlier year.

Capital employed towards the broadcasting sector is Rs 4.96 billion.

http://www.indiantelevision.com/headlines/y2k11/aug/aug103.php
 
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