UTV Software , which owns businesses in films (UTV Motion Pictures), broadcasting (UTV Movies,Bindass, UTV Action, and UTV World Movies), Gaming (True Games, Ignition Entertainment and Indiagames) and Web and Mobile (UTV Interactive) has reported an EBITDA profit of Rs 5.36 crore for its Gaming and Interactive segment, for the quarter ended June 30th 2011, up from the Rs 4.01 crore loss reported last year for the same quarter. The revenues for the segment were Rs 56.18 crore, up from Rs 17.53 crore reported for the corresponding quarter for the last year. Capital employed in the segment has increased to Rs 798.95 crore, up from Rs 581.53 crore reported for Q1 FY-11.
Download: Financial Report
Remember that Disney is looking to acquire the complete shareholding of UTV Software, and take the company private. Disney presently holds 20,497,994 equity shares of UTV, constituting 50.44% of the current paid up capital of the company. This acquisition would include the majority shareholding that UTV owns in Indiagames as well.
Indiagames posted a profit of Rs 2.47 crore for the financial year ended 31st March 2011 with a 37% increment in revenues. The company’s growth in the mobile business space is primarily attributed to the arrangements it has with telcos such as Tata Docomo, Idea, Airtel, Vodafone and Uninor.
UTV Interactive, the digital (non gaming) division of the company has reported a profit last yest fiscal as well: net profit of Rs 4.41 crore, on total revenues of Rs 23.92 crore.
More when we have more from UTV.