Weighed down by heavy investments, the Reliance ADAG-owned Adlabs Films Limited has sunk into losses from a net profits of Rs 474.7 million in the nine-month period ended 31 March 2008.
A source in Adlabs said that recently the company posted a net loss of Rs 513.75 million for the 12-month period ended March 31 2009, as it ramped up its multiplex business in the global arena.
Adlabs boosted its number of screens from 156 to 428 during the fiscal ended 31 March 2009. In India, the screens went up from 147 to 201 while overseas it had a count of 227.
Revenue, however, more than doubled to Rs 6.62 billion. While income from theatrical exhibition was at Rs 3.4 billion, the film production and distribution segment kicked in Rs 2.1 billion. The film facilities business posted a revenue of Rs 1.3 billion (See table).
Commenting on the performance, Adlabs chief executive officer Anil Arjun said, "We have scaled our business operations significantly to provide a comprehensive range of quality services to the film and media industry. All the business segments including the recent additions today hold dominant industry positions. We have made strategic investments in FY08-09 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."
Adlabs has demerged its radio business under a new entity, Reliance Unicom Ltd.
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