A company release said that loss in the fourth quarter was due to additional provision for taxation not envisaged earlier. "The tax provision has been made on a conservative basis, taking into account transfer pricing issues arising out of consolidation of certain vertical functions into overseas subsidiaries during the last part of the financial year."
Total income in the fourth quarter of 2007-08 jumped by 264 per cent to Rs 247 crore against Rs 68 crore reported in the last quarter of 2006-07. Despite the loss in the fourth quarter, the company reported a surge in net profit to Rs 58 crore for the full year 2007-08, which was a 330 per cent jump over the net profit of Rs 13 crore reported in 2006-07. Total revenue for the year improved to 354 per cent to Rs 749 crore against Rs 165 crore in 2006-07. Topline and net profit growth for the full year has been seen in both film exhibition business as well as the food and beverages business.
The financial numbers for 2007-08 includes three acquisitions by the company, which in part explains the surge in topline and bottomline numbers. The companies acquired during the year were FunAsia, Aurona Technologies and Dimple Cine Advertising.
The company also reported a big increase in
