Entertainment major Adlabs Films Ltd, part of Reliance ADA Group, has posted Rs 662 crore revenue from operation for the financial year ended March 31, 2009, up by 57 per cent from its corresponding figure in the last fiscal. The cinema division of the company has seen highest growth during the fiscal at 103 per cent and contributed revenue of Rs 345 crore to the company. While the revenue at film and media services grew by 51 per cent to Rs 135 crore, Big Synergy (non-fiction programming division) recorded growth of 38 per cent to Rs 40 crore, according to a company press release.
Commenting on the achievement, Anil Arjun, CEO, Adlabs Films Ltd, said, “The Indian media and entertainment industry is witnessing an unprecedented growth due to the strong evolution in the consumption patterns and the changing dynamics of production values. We have scaled our business operations significantly to provide a comprehensive range of quality services to the film and media industry and are convinced of the strong values of our businesses.”
“We have made strategic investments in FY 08-09 to become the leading service provider across the complete value chain. These investments would contribute substantially to our bottom line in the next financial year as well,” added Arjun.
Big Cinemas currently operates 428 screens across India, US, Malaysia and Mauritius. In India, it operates 201 screen across 60 cities. The company plans to expand its footprint into Netherlands in Europe and Nepal during the current fiscal, added the release.
— IndiaRetailing Bureau