Prime Focus Limited Reports Audited Consolidated Earnings Results for Fourth Quarter and Nine Months Ended March 31, 2016; Provides Earnings Guidance for the Year 2017
May 30, 2016 at 11:01 pm EDT
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Prime Focus Limited reported audited consolidated earnings results for fourth quarter and nine months ended March 31, 2016. Revenue for the quarter up 11% to INR 4,657 million compared to INR 4,205 million in the corresponding quarter ending March 2015. EBITDA from operations at INR 829 million compared to INR 1,051 million in the same period last year. LBT at INR 906 million compared to PBT of INR 114 million in quarter ending March 2015, exceptional expenses for the period at INR 653 million. LAT for the period is at INR 801 million compared to INR 203 million in same period last year.
For the nine month period from July 1, 2015 to March 31, 2016, the company reported revenue at INR 13,828 million, up 27% year on year from INR 10,894 million in the same period in fiscal year 2015, driven by 26% & 31% growth in Creative and Tech/Tech Enabled services businesses, respectively. EBITDA from operations for the period at INR 2,397 million compared to INR 1,551 million in the same period in fiscal year 2015 - up 55% year on year. LBT for the period at INR 1,183 million compared to INR 963 million in the same period of the previous year; exceptional expenses for the period at INR 835 million driven by planned closure of Singapore operations. LAT for the period at INR 1,085 million compared to INR 785 million in same period last year.
The company look forward to year 2017 with optimism and expect strong growth in revenue and significant expansion in EBITDA on the back of the integration and consolidation initiatives executed in year 2016.
Prime Focus Limited is an India-based company, which is engaged in the business of post-production activities, including digital, intermediate, and other technical and creative services to the media and entertainment industry. The Company operates through three segments. The Creative Services segment includes visual effects, stereo three dimensions (3D) conversion, and animation. The Tech/Tech-Enabled Services segment includes media enterprise resource planning (ERP) suite and cloud-enabled media services. Indiaâs Film & Media Services (FMS) segment is engaged in production and post-production services, such as equipment rental, digital intermediate, picture post, shooting floors and sound stages. In India, the Company operates in cities like Bengaluru, Chennai, Hyderabad, Kolkata, Mohali, Mumbai, Pune, and Noida. It also operates internationally in London, Los Angeles, Montreal, New York, Sofia, Toronto and Vancouver.
Prime Focus Limited Reports Audited Consolidated Earnings Results for Fourth Quarter and Nine Months Ended March 31, 2016; Provides Earnings Guidance for the Year 2017