UTV Software Q2 net profit at Rs 32.78 crore

Televisionpoint.com Correspondent | Mumbai
UTV Software Communications has announced its results for the quarter ended September 30, 2008. It has recorded a 87 per cent rise in consolidated net profits, on a year-on-year basis.

The net profit stood at Rs 32.78 crore against Rs 17.56 crore for same quarter last year. The company's total revenues in Q2 saw a 138 per cent rise to Rs 170.85 crore from Rs 71.86 crore in Q2 of last fiscal.

Since the company acquired a 75 per cent stake in UTV Global Broadcasting Ltd., the current quarter's results include numbers from the broadcasting segment also.

Ronnie Screwvala, chairman and CEO, UTV, said, "We had yet another buoyant quarter with strong revenue growth across all businesses. We have made sincere efforts in revamping our television content business in past few months and results are very exciting. This has also been possible with new shows added by our joint ventures and our own productions in the regional space."