BAG Films net rises 41%

CORPORATE SCORECARD

Media company BAG Films & Media has posted a net profit of Rs 78.54 lakh, up 40.87 per cent, for the first quarter ended June 30 compared with Rs 55.75 lakh during the quarter ended June 30, 2006. Net income from sales for the quarter stood at Rs 9.19 crore (Rs 8.76 crore).

"Our performance in the quarter has been quite satisfactory. Strong emphasis on non-broadcast business and cost control measures have yielded higher top and bottom line, respectively. Going forward, we are confident of achieving healthy revenues and profitability growth," said Anuradha Prasad, managing director, BAG Films & Media.

BAG Films has a presence in television programming, films, radio and new media businesses. The company has also ventured into broadcasting business through two of its subsidiaries - BAG Glamour and BAG Newsline Network.

It plans to launch 4 television channels in the entertainment and news segments, and has applied for the uplinking facility with the Ministry of Information and Broadcasting. At present, the company is in the process of setting up infrastructure for these channels for their launch by October.