Raj Kundra-promoted Viaan Industries Limited, which operates in licensing technology, gaming and animation, and wellness on Thursday reported a consolidated net profit of Rs. 6.15 crore for the first quarter ended June 30, 2017, compared to Rs. 1.35 crore in the corresponding quarter last year.
Meanwhile, consolidated revenues during the quarter grew by 150.71 per cent to Rs. 61.55 crore compared to Rs. 24.55 crore in the corresponding quarter previous year. For the year ended March 31, 2017, the company reported a turnover of Rs. 135.73 crore and a net profit of Rs. 10.7 crore.
"During the quarter we have expanded our product portfolio and customer base through targeted marketing initiatives. Further, we have entered into partnerships with leading media and entertainment channels for gaming and animation content and established presence in the growing entertainment segment," said Raj Kundra, Chairman and Managing Director, Viaan Industries Ltd.
"In the coming quarters, we hope to see a substantial turnover coming from new markets like Middle East, Europe and CIS countries and licensing technology will be a forerunner in contributing to revenue", he added.
Viaan Industries Ltd. recently announced the launch of new poker league in collaboration with Switzerland - based International Federation of Poker (IFP). Eight teams would be competing against each other in Match Poker- a specially devised format of poker by IFP in an event to be organised on October 14-15, 2017 in Mumbai.
The eight teams are Ahmedabad Hearts, Jaipur Jewels, Pune Knights, Kolkata Diamonds, Bangalore Royals, Goa Kings, Delhi Aces and Mumbai All Stars. Some of the notable owners of the teams include actor Harman Baweja, poker club owner Shammi Karira, promoters of Radico Khaitan and Gaurav kapur.
"The Indian Poker industry is currently pegged at USD 120 million with over one million Poker players in India, We look forward to generate revenues through registration and endorsements and registration of Match Poker App per download," said Raj.
Disclaimer: No Business Standard Journalist was involved in creation of this content
