Reliance MediaWorks reports 39 percent jump in income

February 15th, 2011 - 5:42 pm ICT by IANS  

Mumbai, Feb 15 (IANS) Reliance MediaWorks Tuesday reported 39-percent rise in the total income at Rs.697 crore ($155 million) for the nine-month period ended Dec 31 against Rs.501 crore during the corresponding period of the previous year. The earnings before interest, depreciation, tax and amortisation rose 30 percent at Rs.85 crore ($19 million) during the quarter under review, Reliance MediaWorks said, pushing its shares up by 10.68 percent at Rs.158.25 on the Bombay Stock Exchange.

“With the recent commissioning of studios and business processing outsourcing facility, we will see further traction and expect the film and media services division to be a substantial contributor to our business portfolio,” said chief executive Anil Arjun.

The company, however, said that as a result of continued investments, stabilisation of business verticals, interest and depreciation charges, it recorded a net loss of Rs.57 crore ($13 million).

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