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UTV Q2-11: Indiagames In Black, Though Gaming & Interactive Revenues Decline

Obfuscation from UTV Software, as the company has decided to report financial results for gaming and Interactive / New Media segments combined; according to the company, “Due to the blurring of boundaries between the two we are reporting the Games content and Interactive segments together from this quarter with a view to consolidate similar businesses”.

Really? They think the line between CXOToday and Indiagames is blurring? And they’ve changed their mind about reporting patterns rather quickly too: last quarter, the company reported results separately for UTV Indiagames (Rs. 1.5 Cr loss) and UTV New Media (Rs. 0.5 Cr loss). This quarter, though, UTV says that Indiagmes is in the black, and expects to continue this trend, but doesn’t mention specific results.

Download: Press Release | Financial Results

Gaming and Interactive Results

For the quarter ended September 30th 2010 (Q2-11), the gaming and Interactive segments have reported lower revenues. Consolidated revenues for the combined segment were Rs. 35.72 crore, down 40% year on year from Rs. 59.91 crore in Q2 last year. Profits too are down to Rs. 5.25 crore from Rs. 6.99 crore for Q2-10, down 24.89%. The gaming and interactive segment for UTV would include UTV Indiagames (mobile and tablet games), UTV New Media (online and mobile publishing of tech news, TV and cinema related content), UTV Ignition Entertainment (console gaming) and UTV True Games (MMOG).

According to a statement released by the company, they’ve made ” We have made significant progress on Games and Interactive business primarily in Console and Mobile segment.” They intend to focus on IPs that migrate across multiple platforms of distribution: console to PC, iPhone to an iPad etc. Their console game El Shaddai was unveiled in September at the Tokyo Game Show.

– True Games to release social game: UTV’s MMOG co True Games will release 4-5 games this financial year, including its first social game by December, created at its Beijing studio.
– 3G & 4G content aggregation: UTV says that they’ve taken steps to aggregate and create original video content for such distribution and expected to have dominant share of this market. They’ve inked strategic tie-ups with Telcos have been, and expect UTV Content on 3G and 4G.

UTV Reports Rs. 40 Cr PAT For Q1-11; IndiaGames Loss, New Media Profit; Ignition Fundraising
Indiagames, Spice Labs, Playbuff Cross 1M Ovi Downloads; Ovi Stats; Nokia Music Claims

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