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UTV Software Reports Operational Profit; Indiagames Gets Etisalat WAP Deal

UTV Software's gaming company Indiagames has won its first "Master Service Provider" contract for entire WAP deck management, including games, imagery and music for Etisalat DB, which will be launching services shortly. As a part of its earnings announcement for the quarter ending September 30th 2009, UTV also disclosed that Indiagames has launched, on its Games On Demand platform, a website for Download to Own games, which will be launched commercially in the current quarter. Details: Financials | Release | Call (None) Consolidated Results UTV reported consolidated operating revenues of Rs. 2376.7 million, up 39% y-o-y from Rs 1,709 million. Compared to an operational loss reported for the same quarter last fiscal, UTV has reported an operational profit of Rs. 181.04 million, as compared to a a loss of Rs. 94.05 million for the same quarter last year. On the broadcast front, UTV increased its holding in UTV Global Broadcasting by 10% by September 30th 2009. UTV owns 85% of the equity share capital of UGBL. Gaming The gaming segment, which includes Indiagames, Ignition Entertainment and True Games, contributed 25% to UTV Software's revenues during Sep09. After posting an EBITDA loss of Rs. 96.41 million last quarter, the gaming segment reported an EBITDA profit of Rs. 98.91 million, with revenues up 392% sequentially and 167% year on year. One must keep in mind that the gaming business is akin to the films business, wherein revenues and hence profitability might be lop-sided. Indiagames -- Indian Market: Indiagames released over 50 games in the Indian market during the quarter…

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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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