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Corrected: Indiagames FY09 Turnover At Rs. 464.2M, PAT At Rs. 2.24M

Update: According to the UTV 2007-08 annual report, the FY08 numbers for Indiagames were from December 14, 2007 to March 31, 2008 - almost a four month period. We had incorrectly mentioned these as numbers for the full year. The article below has been updated with corrections. Indiagames Ltd, a gaming subsidiary of BSE listed media company UTV, has reported turnover of Rs. 464.2 million for the full year ended March 31st 2009 (FY09). Profit margins are a cause for concern: the company has reported a Profit After Tax of just Rs. 2.24 million on a turnover of Rs. 464.2 million. This, however, is because the broadband Games on Demand (GoD) subscription business is in investment mode. UTV expects the Mobile business of Indiagames to grow well and deliver in the current fiscal, but returns from the mobile business to be invested in the broadband Games On Demand subscription business. For the approximately four month period in 2007-08 from December 14, 2007 to March 31, 2008, Indiagames had reported a turnover of Rs. 91.45 million, a loss before tax of Rs. 1.57 million, and a Profit after Tax of Rs. 0.86 million, given a provision for taxation of Rs. 2.43 million. During the year, the equity stake of IG Interactive Entertainment Limited (a UTV subsidiarly) in Indiagames increased from 54.86 percent to 58.64 percent due to issue of additional shares, while the stake of UTV Software was been reduced from 12.11% to 1.78% on account oftransfer of its stake to the management shareholders. In all, UTV…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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