UTV Revenues Up 154 Percent; Interactive Business Posts Rs 3.57 Crore Loss

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UTV reported a growth of 154 percent in total revenues for the quarter ending June 30, 2008, over the previous sequential quarter, buoyed mostly by its films segment: Rs 1,452 million from 571 million, with a net profit of Rs 251 million up from 91 million. The PDF release on earnings is here.

Consolidated financials include the recently added ITNation Media as well as Indiagames Limited. On the back of these results, UTV is looking to invest $75 million to expand their interactive vertical by investing into the gaming space. Plans include mobile as well as online games, in addition to publishing games on traditional console platforms. To that end the company has entered into an MOU to acquire a 51 per cent stake in a mobile-games aggregator based in the US through its subsidiary Indiagames Ltd. It has also increased its stake in UK-based Ignition Entertainment to 95%, looking to create three console titles developed out of London, Florida and Tokyo. UTV is also looking to invest in start-up venture which is a player in the online gaming space in the US.

UTV’s Interactive business (Indiagames and Ignition Entertainment) reported revenues of Rs 14.559 crore; an EBITDA loss of Rs 3.57 crore. An investment of Rs 133.79 crores was also reported in this vertical which would align with the nature of the game development business – likely for Ignition’s console titles.

UTVs New Media (UTV New Media Ltd and ITNation Media), reported a loss of Rs. 63.8 lakhs at the EBITDA level, and revenues of Rs. 2.6 crores

UTV’s game-plan seems cross-platform, and one of leveraging its content across media: video and music content (UTV-Motion Pictures, Bindaas, Bindaas Movies, World Movies, UTVi), tech and financial content (ITNation Media, UTVi.com), interactive content acquired through its many subsidiaries (Indiagames, Ignition Entertainment, and the ones planned for acquisition) and piped across mobile devices, console platforms, and online through the internet (through portals such as UTV@PLAY which has iTunes-like ambitions, we have heard), and over IPTV.

Download the report here (PDF link).

2 Comments

pinakin

Wat is the diff btwn utv new media and interactive ? Y is interactive investing in us mobile companies when new media is doing mobile contnt bsness in india. No mgmt synergies ?? Sr. Mgmt wake up and smell the coffee
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There is no future for itunes service for indians till anti piracy picks up. @play needs to find its niche carefully. musichungama is being launched for last 2 years ;)

Harsha

These guys need to buy a cool kid on the block to make a statement on the internet, someone like a burrp.com

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