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indiantelevision.com Team
MUMBAI: UTV Software Communications has posted a consolidated net loss of Rs 961.99 million (after minority interest), for the three-month period ended 31 December, pulled down by its movie segment and a rise in costs. All its business verticals posted losses.
In the corresponding quarter of the previous fiscal, the diversified media company had posted a net profit of Rs 399.83 million.
UTV?s revenue for the third quarter of the fiscal plummeted 35.38 per cent to Rs 1.65 billion compared to Rs 2.56 billion a year ago.
Meanwhile, expenses during the quarter under review jumped 15.49 per cent to Rs 2.36 billion, as against Rs 2.05 billion in the earlier year.
The company has consolidated the financials of UTV Communications (USA), IG Interactive Entertainment, UTV Global Broadcasting, UTV TV Content, UTV Games, First Future Agri & Developers, UTV New Media, Indiagames and the group?s stepdown subsidiaries -Ignition Entertainment, True Games Interactive, Genx Entertainment, UTV Entertainment Television, UTV Tele-Talkies, RB Entertainment and Vikatan UTV Content.
Television Segment
The television segment revenue stayed flat at Rs 1.03 billion (compared to Rs 1.02 billion in Q3 FY?11.
UTV posted operating loss of Rs 371.08 million from the segment, as against profit of Rs 207.01 million a year ago.
The company deployed Rs 4.92 billion in the television segment as of 31 December 2011.
Movie Segment
The movie business revenue skid 75.28 per cent to Rs 265.99 million, from Rs 1.08 billion in the earlier year. The segment loss stood at Rs 181.64 million, from a profit of Rs 270.07 million.
The company has deployed Rs 6.97 billion in the movie segment as of 31 December 2011.
Games and Interactive division
UTV?s gaming and new media business raked in Rs 306.91 million (compared to Rs 459.33 million in the year ago period).
The segment saw an operating loss of Rs 72.98 million, as against an operating profit of Rs 106.33 million a year ago.
The company has deployed Rs 9.21 billion in the segment.
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