UTV Software Communications has posted a net profit of Rs 27 crore for the fourth quarter ended March 31, 2008, up 138.72 per cent, from Rs 11.31 crore during the corresponding quarter last year. Total revenue during the quarter rose to Rs 194.73 crore (Rs 41.66 crore).
Net profit for the year ended March 2008 rose by 63 per cent to Rs 76.81 crore (Rs 47 crore). Total revenue stood at Rs 449.74 crore (Rs 203.22 crore).
According to a company press release, its motion pictures business reported a revenue growth of 241 per cent and the interactive and gaming business grew of nearly 250 per cent.
Ronnie Screwvala, chairman and CEO, UTV Software Communications, said, "We have been successful at developing an expanded opportunity pipeline resulting from our re-entry into the broadcasting business, our recent gaming acquisitions in the interactive vertical, our TV joint ventures and our enviable slate of movies in the Hindi and Hollywood space. The long term outlook is better than ever, given the initiatives that we are implementing in all our four verticals - television, movies, interactive and broadcasting. We have also further strengthened our team during the quarter in order to ride the anticipated growth. Above all, increase in strategic stake by Disney demonstrates the confidence we and others have in our company and shows our commitment to maximizing long term shareholder value."
In February, the company announced Disney increasing its stake from 13.7 per cent to 32.1 per cent of the fully diluted equity. Additionally, Disney will invest Rs 119 crore ($30 million) for 15 per cent stake in UTV Global Broadcasting at an enterprise value of Rs 793 crore ($200 million).
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UTV's standalone net profit for the fourth quarter ended March 31, 2008, came down to Rs 4.37 crore from Rs 11.84 crore in the corresponding previous quarter. Total revenue stood at Rs 119.86 crore (Rs 56.45 crore). The standalone net profit for the year ended March 31, 2008 came down to Rs 4.47 crore (Rs 36.59 crore). During FY08, UTV recorded a total revenue of Rs 289.16 crore (Rs 180.99 crore).
Ceat Q4 net zooms 220% to Rs 77 crore
India's fourth largest tyre maker Ceat has reported an over 220 per cent jump in net profit for the fourth quarter ended March 2008 at Rs 76.93 crore on account of profit on sale of land. The company had posted a net profit of Rs 23.41 crore in the comparable previous period.
Net sales in the quarter grew to Rs 646 crore, up by 15 per cent, compared with Rs 562 crore posted in the comparable previous quarter.
The company earned a profit of Rs 61 crore on sale of land in Bhandup (a Mumbai suburb), which it had sold for Rs 130 crore.
Cost of raw material grew by more than 13 per cent at Rs 404 crore during the quarter.
K J Rao, chief financial officer, Ceat, said, "Rising raw material prices had been a cause of concern for us as it had risen substantially during the last two quarters. The current quarter will be very tough also. We are waiting to see how the next few quarters will behave."
The profit on sale of land also helped the company post a jump in net profit for the year, as it rose to Rs 148 crore, up 278 per cent, as against Rs 39.25 crore posted in the previous year.
Net sales for FY08 grew by 9 per cent at Rs 2,329.97 crore (Rs 2,134.78 crore).
The company will be investing Rs 1,000 crore in the next 2-3 years to set up two new factories in addition to concluding the radialisation programme.
Sesa Goa consolidated Q4 net jumps 218%
Vedanta group-controlled iron ore exporter Sesa Goa has posted an impressive 218 per cent growth in consolidated net profit at Rs 811.58 crore for the quarter ended March 31, 2008, compared with Rs 263.34 in the comparable period last year. Total income increased from Rs 832.16 crore to Rs 1,732.34 crore.
Consolidated net sales of the Sesa group for the full year ended March 31, 2008, was Rs 1,541.58 crore (Rs 646.12 crore). Total income grew from Rs 2,263.03 crore to Rs 3,897.06 crore.
On standalone basis, Sesa Goa has posted a staggering 216 per cent growth in net profit at Rs 798.30 crore in the fourth quarter compared with Rs 252.33 crore in the comparable period last year.
Total income during the quarter increased to Rs 1,669.97 crore (Rs 772.38 crore).
For the full year, the iron ore exporter has recorded 146 per cent rise in net profit at Rs 1,492 crore (Rs 606.41 crore).
Total income, during the period, has increased from Rs 2,049.44 crore to Rs 3,672.41 crore.