Adlabs Films revenue up 61 percent

Mumbai, Jan 31 (IANS) Adlabs Films Ltd, part of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG), Saturday reported 61 percent growth in revenue for the quarter ended Dec 31.

The company said in a statement that its total third quarter revenue stood at Rs.1.63 billion (Rs.163 crore/$33 million).

Adlabas Big Cinemas, the cinema division of Adlabs Films, recorded a revenue increase of 139 percent at Rs.1.1 billon for the quarter.

The film processing and services division reported a 54 percent increase in revenues at at Rs.370 million, the statement added.

Despite the growth in revenue, the company suffered a net loss of Rs.50 million during the quarter, primarily on account of expenses related to start-up and stabilisation of various businesses, it said.

Commenting on the company's performance, Adlabs Films chief executive Anil Arjun said: 'We have scaled up our businesses, and provide a comprehensive range of services to film clients. All business segments enjoy leadership positions.'

During the quarter, Adlabs BIG Cinemas received an international laurel when the film exhibition arm of the company was hailed as the 'International Exhibitor of the Year', at CineAsia in Macau.

'The film distribution division also registered a record-breaking performance after the successful release of the Aamir Khan-starrer 'Ghajini' overseas,' Arjun said.

The radio network division, BIG 92.7 FM, which has 44 stations across the country, recorded a total income of Rs.490 million during the period, the statement added.