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UTV Reports Rs. 40 Cr PAT For Q1-11; IndiaGames Loss, New Media Profit; Ignition Fundraising

UTV Software has reported a profit after tax of Rs. 40.24 crore for the first quarter ended June 30th 2010 (Q1-11), up from the Rs. 31.75 crore loss it reported for the corresponding quarter last year. The improvement in performance is on the back of a substantial increase in Revenue - Rs. 208.2 crore, compared with Rs. 89.8 crore, largely due to an increase in revenue from the motion pictures business. A quarterly comparison is perhaps not justified, since the company is invested heavily in the films and gaming business, where costs tend to be taken on initially, and revenues are often lop sided. In terms of revenue contribution, Movies and TV continued to dominate revenues for UTV: New Media: Rs. 2.1 Cr Profit; Voice Blogs! The New Media segment reported revenues of Rs. 5.3 crore, up 89% over the same quarter last year, contributing 3% to UTV's income. For the quarter, the segment reported a profit of Rs. 20 lakh, compared with a Rs. 2.1 crore loss a quarter ago. According to a presentation made to analysts, UTV AudioCinema has 1.5 million subscribers, with consumers spending Rs. 3.5 crore per month. Of course, there's a substantial part of that which remains with the telecom operator and the platform service provider. UTV plans to expand Audio Cinema to 3 more segments. Voice Blogging appears to be working well for UTV New Media as well - according to a recent report in Business Standard, they're powering many of the celebrity blogs…

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

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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