UTV profit up, revenues down

CORPORATE SCORECARD

UTV Software Communications' net profit quadrupled even after posting a 20.51 per cent drop in revenues as the company cut down on expenditure in the fourth quarter of the financial year.

The company's net profit went up to Rs 19.95 crore in the Q4 FY07 from Rs 4.96 crore in the corresponding previous quarter, though revenues came down to Rs 55.79 crore from Rs 70.19 crore. The company reduced its expenditure by 20.40 per cent, from Rs 61.97 crore to Rs 51.47 crore.

Its consolidated net profit for the quarter stood at Rs 19.74 crore, 197.28 per cent up from Rs 6.64 crore in the corresponding quarter of 2005-06. However, the company's consolidated revenues during the quarter dipped to Rs 41.44 crore from Rs 85.86 crore in 2005-06.

The consolidated results include that of subsidiaries UTV Communications, UTV Motion pictures (Mauritius), UTV Communications (UK) and Ignition Entertainment.

UTV's annual net profit for the year ended March 31, 2007 grew 15 times to Rs 44.71 crore from Rs 2.99 crore in 2005-06. Revenues during the year dropped by 1.81 per cent to Rs 180.32 crore from Rs 177.11 crore in 2005-06.