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UFO Moviez posts a net profit of Rs 16.5Cr; up 19% in Q2FY16

UFO Moviez

Digital cinema distribution firm and ad platform UFO Moviez has posted a net profit of Rs 16.52 crore for the quarter ended September 30, 2015 showing a growth of 19% year-on-year (YoY). The company had posted a net profit of Rs 12.8 crore in the preceding quarter, a growth of 29%.

Revenues at the company increased 18% to Rs 148.25 crore from Rs 125.6 crore from the same period last year. On a sequential basis, revenues increased 13.7% from Rs 130.3 crore.

In the first half of this year, the company’s advertisement revenue grew 37.8% to Rs 70.7 crore from Rs 51.3 crore in H1FY15. The average number of advertisement minutes sold per show per screen also increased to 3.83 minutes from 2.92 minutes in the corresponding half last year.

“The expansion of Caravan Talkies is progressing as per plan and we expect this business to begin contributing meaningfully at an operating level soon. We also delivered strong growth in revenues driven by E Cinema VPF, sale of products and increase in advertisement volumes,” 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 3,690 screens, with an aggregate seating capacity of approximately 1.79 million viewers and a reach of 1,882 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 advertising 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 6,557 screens worldwide, including 4,940 screens across India and 1,617 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: Financials

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