Reliance ADAG group’s Reliance Mediaworks, previously Adlabs, has reported a consolidated net loss of US$ 2.3 million for the quarter ending September 2009 better than the previous quarter loss of US$ 13.6 million.
Film and Media Service’s revenue increased by 64 percent to US$ 10 million compared to the last quarter and revenues from BIG Synergy, television production venture, and BIG Cinemas were US$ 6.25 million and US$ 24 million respectively. As a standalone, total income was reported to be US$ 23 million almost US$ 10 million more compared to income ending June 2009 . EBITDA as reported was US$7.2 million as against the loss of US$ 1.8 million in the last quarter.
BIG Cinemas at present has a network of 480 screens across India, Malaysia and Netherlands and also reopened Odeon Theatre in Connaught Place, New Delhi as Odeon BIG Cinemas.
Reliance Mediawork’s Film and Media Services, launched film cameras and equipment rental services in India.
BIG Synergy, TV venture, produced five non-fiction shows for various TV channels in India.
Compact Disc India
CDI announced a Net Profit of Rs. 128.4 million for the second quarter 2009 and also has announced that it will invest US$ 3 million in CDI Media LLC, a wholly owned subsidiary in USA to set up pre-production animation studio at Los Angeles. Revenue generated for this quarter amounted to Rs. 616.7 milllion about 150 million more than the corresponding quarter of last fiscal. Total expenditure for the period was Rs. 488.3 million including development costs of Rs. 486 million.
Tata Communications Limited
The Company has posted a net profit of Rs 104.50 million for the quarter ended September 30, 2009 almost three times lower than the profit declared for quarter ended June, 2009 which was Rs. 319.40 million and for the quarter ended September 2008 which was Rs.329.20 million. Total Income has decreased as compared to Rs 10357.70 million for the quarter ended September 2008 and Rs 8502.40 million for the quarter ended June 2009 to Rs 7929.90 million for the quarter ended September 2009 .
(by Preethi J)
Despite a year of massive downsizing, theatre chain owner Pyramid Saimira has posted a net profit of Rs. 57.79 million over income of Rs. 573.28 million which sequentially fell by 28.95% in the quarter ended June 2009. From the 802 screens Pyramid owned in June 2008, there were 190 screens left as of June 2009.
The company has only now announced its results as it extended its financial year to 15 months. In the previous quarter, the company witnessed losses of Rs. 853.72 million. Its EBITDA has increased from Rs. 75.78 million to Rs. 96.67 million in the quarter.
Pyramid has also managed to control expenses in the quarter, which are down 17.33% from the previous quarter and 74.65% lower year on year at Rs. 567 million.
Previously, the company had written off investments in its DTH business in Europe and UK-based animation and console game developer Aurona Technologies. We now see that the write-offs resulted in a reduction in value of content invested in subsidiaries to the tune of Rs. 76.94 crores. The write-off on Aurona came to Rs. 13.65 crores while that of its DTH business Spize TV Pte was for Rs. 8.5 crores.
Pyramid has managed to divest a 39.87% stake in one of its subsidiaries which was previously a division – Pyramid Saimira Production International (PSPIL) – to a strategic investor, and it now owns 39.86% as a co-promoter. It planned to list this as well as the other subsidiary Pyramid Saimira Content Distribution. Its board also approved qualified institutional placement measures to issue 1 crore equity shares and planned to offer 1 crore warrants to its promoters to raise money to help the company back on its feet.
Pyramid has also been attemptingto sell its overseas subsidiaries and exit non-core sectors, but there have been no announcements regarding them so far. The company has had a very rough quarter and year with box office failures, operational losses, share market scam leading to a decline of its valuation and the income tax department paralysing its accounts.