wordpress blog stats
Connect with us

Hi, what are you looking for?

UFO Moviez’ net profit down 13.5% to Rs 13.3 crore in Q3FY16

Digital cinema distribution firm and ad platform UFO Moviez has reported a net profit of Rs 13.3 crore for the quarter ended 31st December 2016 (Q3-FY17), down 13.5% from Rs 15.4 crore in the same quarter last year. The company had reported a net profit of Rs 19.03 crore in the previous quarter.

Revenues at the company increased 2.5% from Rs 145.2 crore to Rs 148.8 crore from the same period last year. On a sequential basis, revenues decreased 6.7% from Rs 159.5 crore.

Advertising

In this quarter, the company’s advertising revenue grew 5.2% to Rs 42.7 crore from Rs 40.67 crore in the same quarter last year. However, the average number of advertisement minutes sold per show per screen decreased to 3.88 minutes from 4.36 minutes in the same quarter last year.

Other Highlights:

– Demonetization adversely impacted Caravan Talkies performance, with decline in consumer demand in rural areas leading to a withdrawal of advertisement contracts. The company had 44 caravans operations in November, significantly down from 91 caravans in 91 districts across 6 states during Q1-FY17.

– According to Sanjay Gaikwad, founder and MD of the company, “While demonetization has slowed down growth in the second half of fiscal 2017 making it difficult to achieve our advertisement growth target, we are extremely confident of delivering on our long term growth plans.”

– UFO currently has 5,052 in India (including 121 in Nepal) across 1,950 locations in the country. It claims to have 1,090 advertisers as of Q3FY17.

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 | Presentation

You May Also Like

News

Kotak Mahindra Bank reported a net profit of ₹1,853.5 crore for the third quarter of the current financial, up by 16% year-on-year from ₹1,944...

News

Yes Bank Ltd posted a net profit of ₹151 crore during the third quarter of the current financial year compared to a net loss...

News

Key takeaways Network18’s digital news revenue increased by 50% YoY for the second consecutive quarter Consolidated Net Profits grew 125% YoY Network18 Digital saw...

News

Netflix’s two day StreamFest in December 2020—where users in India could practically watch Netflix’s entire catalogue for free—brought millions of users to the service,...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ