Prime Focus Ltd has posted results for the first quarter ended 30th June, 2012.
Q1 FY13 Results
Revenues grew 12.4% to Rs1,882.1 mn
EBITDA lower by 2.5% at Rs446.2 mn
Profit Before Tax up 18.0% to Rs298.6 mn
Diluted EPS for the quarter at Rs1.26 per share
Commenting on Prime Focus’ Q1 FY2013 results, Mr. Ramki Sankaranarayanan, Managing Director and CEO of Prime Focus Limited said: “We are building our growth momentum on multiple, long-term pillars. Our business in the 3D market has seen continued growth with the recently released Men in Black 3 grossing over $600 million worldwide. Significant box office collections for both new releases and library titles such as Star Wars, Wrath of the Titans, Immortals and Titanic shows the phenomenal growth the 3D business has witnessed worldwide. Having established our capabilities in 3D conversion, we have seen additional successes in the conversion space and are looking forward to the release of the much anticipated Judge Dredd and Frankenweenie. Projects currently under execution include Wizard of Oz and Star Wars 2 & 3.While 3D movies are firmly entrenched in the mainstream of Hollywood, and we continue to expand our presence in this business segment, the first quarter saw a major milestone in the VFX space. Prime Focus broke new ground delivering close to 400 shots for the recently released Total Recall, endorsing our ability to cross-sell VFX services to our 3D conversion client base in Hollywood. VFX is a $ 5 billion market annually, which we have the unique ability to service through competencies built across our Global DigitalPipeline of content creation studios in Vancouver, London, Hollywood and India. "
"Other VFX successes include Hollywood projects like Men in Black 3 and Snow White and the Huntsman, as well as Bollywood projects including Hous eful 2, Jannat 2 and Tezz. While Prime Focus Technologies' association with News Corporation-owned STAR TV continues to grow from strength to strength, we have further extended our Content Localization offering Language Dubbing services, complementing its existing
subtitling/captioning service offering. With a roster of 300 voice-over artists and 50 scriptwriters, PFT can provide dubbing services in over 20 international languages and all Indian languages. Language Dubbing is an important addition to our growing suite of powerful CLEAR-led Content Operation services for global clients, presenting enhanced revenue growth opportunities. Q1 also s aw us engage with Sony Music to transition its video operations to the Cloud on the CLEAR platform, a first in the Indian music industry. Our foray into South Africa has already yielded results with several client wins in South Africa including becoming the leading TV Spot Distribution supply chain solution in that market. Driven by the increased adoption of CLEAR, we look forward to building on a very healthy order book during the course of this year., says Ramki Sankaranarayanan.