Prime Focus reported a good set of numbers for the fourth quarter ended March 31. The year on year (YoY) revenues were up 38 percent at Rs 658 crore versus Rs 477 crore. EBITDA also was up 97 percent at Rs 184.2 crore versus Rs 93.6 crore same quarter last fiscal.
Margins were up 27.9 percent versus 19.6 percent and profit after tax was Rs 38.7 crore versus loss of Rs 241.6 crore YoY.
Namit Malhotra, Executive Chairman & Global CEO, Prime Focus said we are delivering on the promises we made in terms of margin expansion and revenue growth across all our businesses.
New films like 'Fast And Furious' & 'Mummy' aided margins in the fourth quarter, which was in-line with our expectations, said Malhotra.
The overall orderbook for FY18 would be around USD 250 million, he said.
He said our strategy is based on establishing an integrated outcome for their customers. VFX is the dominating driver and the largest revenue contributor, he added.
The current net debt for the company is around Rs 1200 crore, said Malhotra, adding that they aim to reduce it substantially this fiscal. We have also got rid of some non-core assets, he said.
Prime Focus World (PFW) is a filmmaking partner to international studios and film production companies, providing world-class creative services, pioneering technology services and intelligent financial solutions on a global scale.
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