MUMBAI: BAG Films Ltd's net profit rose 21 per cent to Rs 26.6 million for the nine-month period ended 31 December 2005, up from Rs 22 million a year ago.
Net income grew 58 per cent to Rs 348.4 million from Rs 220.9 million during this period.
Commenting on the performance, BAG Films managing director Anurradha Prasad said, “During the nine months all our businesses performed encouragingly. There are several opportunities that await BAG Films this year. We expect to introduce some new programmes shortly and also release three feature films during the calendar year. Our recent winning of six Radio FM frequencies across the states of Bihar, Haryana, Himachal Pradesh, Jharkhand and Punjab has also enabled create a presence in one more segment, which I think is imperative for any player who aspires to leverage the potential of this exciting industry."
In the third quarter of the current fiscal, the company developed content for some of the leading mobile service providers in the country.
BAG Films will being telecast of Woh Hue Na Hamare twice a week on Doordarshan from February. The company proposes to release three films during the current calendar year. This includes the tentatively titled Rockin’(a love story with Shushmita Sen and Shiney Ahuja as lead actors), a Punjabi film whose shooting has been complete (Jimmy Shergil and Kulraj Randhawa), and a Bhojpuri movie.
BAG Films is also pursuing opportunities in various ‘new media’ avenues such as DVD, video streaming, wireless transmission and the internet besides identifying new uses for existing technologies such as digital libraries, interactive story telling, and distance learning.