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Q2-09: UTV Invests Rs. 256.39 Crores In Gaming; EBITDA Losses; Increases Stake In ITNation, IndiaGames

For the quarter ended September 30th 2008, UTV net profit grew to Rs. 32.8 crores, up from Rs. 17.6 crores for the same quarter last year, while Operating Revenues grew to Rs 170.8 crores from Rs 71.9 crores for the same quarter last year. Note: The year on year comparison isn't valid since UTV has revenues from its acquisitions during the last fiscal, including those from True Games for September 10th to 30th 2008. The company structure has been rather fluid as well. As an example, the True Games acquisition is via a subsidiary we haven't heard mentioned before, called UTV Games. It's interesting to note that despite investments in TV, New Media and Interactive (Gaming), Movies continues to be the largest contributor to revenues. During the quarter, Disney also infused Rs. 1.18 billion into UTVs broadcasting business. A look at their Interactive and New Media segments: Interactive The Interactive segment reported revenues of Rs. 21.55 crores for the quarter, and contributed around 14 percent to UTVs operating revenues. However, as was the case last quarter, the Interactive segment continued to make a loss at the EBITDA level - of Rs. 2.77 crores, and a staggering increase in investment at Rs. 256.39 crores. Last quarter, the company had invested Rs. 133.79 crores in the Interactive segment. UTV Interactive consists of Ignition Entertainment (console gaming), True Games (Massively Multiplayer Online Games) and Indiagames (Mobile Games, Broadband based PC Games distribution). Indiagames During the quarter, IG Interactive Entertainment Ltd, a subsidiary of…

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