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Digital cinema distribution firm UFO Moviez posts a net profit of Rs 13.3 cr, up 65%

UFO Moviez

Digital cinema distribution firm and ad platform UFO Moviez has posted a net profit of 13.3 crore for the quarter ended June 30, 2015 showing a growth of 65.5% year-on-year (y-o-y). The company had posted a net profit of Rs 11.95 crore in the preceding quarter, a growth of 11.29%.

Revenues at the company increased 23.3% to Rs 130.6 crore from Rs 105.9 crore from the same period last year. On a sequential basis, revenues increased 9.15% from Rs 121.85 crore.

The company says that its advertisement revenue grew 87.7% to Rs 36.3 crore in Q1FY16 from Rs 19.3 crore  in Q1FY15. During the quarter, the average number of advertisement minutes sold per show per screen increased to 3.81 from 2.13 in Q1FY15. The advertisement revenue per screen (average) stood at Rs 93,098 in Q1FY16 compared to  Rs 53,085 in Q1FY15.

“We recorded strong growth in advertisement revenues during the quarter and marked improvement in the number of advertisement minutes sold per screen per show. Further, we expect that, advertisements will continue to drive the Company’s overall growth going forward,” said Kapil Agarwal, joint managing director of UFO Moviez.

UFO says it has created a pan-India,  in-cinema advertising platform with long-term advertising rights to 3,728 screens, with an aggregate seating capacity of approximately 1.83 million viewers and a reach of over 1,900 locations. The platform also allows small exhibitors who otherwise are not able to effectively monetize their advertising inventory due to their limited scale and reach to receive a greater share of advertisement revenue.

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UFO operates a satellite-based, digital cinema distribution network using its UFO-M4 platform. The company’s digitization and delivery model  allows same day release of movies across India. As of  June 30, UFO’s global network, along with subsidiaries and associates, spans 6,585 screens worldwide, including 4,965 screens across India and 1,620 screens across the Middle East, Israel, Mexico and the USA.

It’s subsidiaries include: 

– Scrabble Entertainment Limited, where UFO owns 91.32% in the company.  Scrabble operates UFO’s digital cinema business in certain states in India and internationally. Scrabble also has 33.33% stake in Scrabble Digital Ltd, which owns digital labs in Mumbai, Chennai and Hyderabad, and Scrabble Digital JLT, which owns digital labs in Dubai,  which provide movie encoding, processing and compressing services.

– DCI Solutions Worldwide, which operates the digital cinema business in the US and Mexico through associates.

– Southern Digital Screenz India Private Ltd, which rolled out the company’s UFO-M4 digital cinema solutions in the states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

Download: Press release and financials

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