Prime Focus rose 1.08% to Rs 135.25 after the company announced that its subsidiary, Prime Focus Motion Pictures (PF Motion), has incorporated a wholly owned subsidiary named DNEG Creative on 7 January 2025.
DNEG Creative, which operates in the visual effects and motion picture industry, will focus on providing post-production services for video production and motion pictures. The company is an indirect subsidiary of Prime Focus (PFL) and has obtained all necessary approvals from relevant authorities.PF Motion has subscribed to 10,000 equity shares of Rs 10 each, aggregating to Rs 1,00,000, through cash via banking channels.
Prime Focus offers motion picture post production and visual effects services. The company offers visual effects, digital film lab, telecine, editing, and motion control to high-definition production services.
The companys consolidated net profit surged 115.1% to Rs 33.40 crore in Q2 FY25 as compared to net loss of Rs 220.81 crore in Q2 FY24. Revenue from operations fell 13.2% YoY to Rs 884.96 crore in the quarter ended 30 September 2024.
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