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Viaan Industries’ net profit at Rs  6.15cr for Q1FY18

Viaan Industries, a company promoted by businessman Raj Kundra and Bollywood actress Shilpa Shetty, has posted a consolidated net profit of Rs 6.15 crore for the first quarter ended June 30, 2017 compared to Rs 1.35 crore in the corresponding quarter last year. This represented a year-on-year growth of 355.59%, and Q-o-Q growth of 19.26%.

The company in operates in three verticals – Licensing technology, Gaming & Animation and Wellness.

Meanwhile, consolidated revenues for the quarter stood at Rs 61.47 crore compared to Rs 24.44 crore in the corresponding quarter previous year, growth by 150.71% on y-o-y basis. The company does not provide segmented results of its operations. 

The company said in a statement that it plans to export licensing technology and entertainment in Asia, Middle East and CIS Countries. Kundra said that in the coming quarter, the company hopes to see a substantial turnover coming from new markets like Middle East, Europe and CIS countries and licensing technology will be a forerunner in contributing to revenue.

Early this year, Viaan Studios entered into a game development deal with Eros International for a mobile arcade game for the superhero film SNIFF. Other than that Viaan studios has its own games on both iOS and Android, including Survival Block, Soulmate, Operation Reboot and TagFight which it lists on its website.

Online Poker league

In June, it signed an agreement with International Federation of Poker to launch app-based Match Indian Poker Leaque (MIPL) which will allow city based teams to compete in the global professional match poker league.

MIPL will host its inaugural sports poker league this year in October with 8 teams from 8 cities in India backed by 8 well known team owners  with over 1 million poker players globally. The company said in a statement that the participation fee per team is of Rs 50 lakhs, and  Match Poker App user registration is at Rs 999 per download. The two-day tournament will take place in Mumbai.

The company has not shared any other details of downloads and teams.

Company’s history

The company was renamed from Hindustan Safety Glass after the couple acquired it back in 2014. At the time of acquisition, Hindustan Safety Glass was engaged in trading articles made of glass and was planning to enter the infrastructure business. However, the company has completely revamped since, and now offers mobile game development, mobile phones, and wellness products. Below is company’s timeline so far.

Download: Financial/ Press Release

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