Galaxy Entertainment Corp posts 373% jump in turnover

Mumbai: Galaxy Entertainment Corporation, a public limited company listed on the Bombay Stock Exchange, has declared a net profit of Rs 87.41 lakh during the second quarter of this fiscal, as per the unaudited results declared for the quarter ended 30 September 2003. In the second quarter of the last fiscal (2002-03), the company had posted a loss of Rs 4.34 lakh.

For the quarter, the income from operations of Galaxy Entertainment Corporation went up to Rs 9.63 crore from Rs 1.92 crore last year. The total turnover (Rs 10.03 crore) has shown a 373-per cent jump from the unaudited turnover (Rs 2.12 crore) of the second quarter of the last fiscal.

According to the unaudited results, the operating profits (profit before depreciation and taxation) of Galaxy Entertainment are Rs 1.20 crore for the quarter ended 30 September 2003. The operating profit during this quarter has shown a considerable rise of over 395 per cent over the operating profits during the second quarter of the last fiscal.

The company''s current business operations include the bowling company, South East Asia''s largest and most comprehensive single indoor provider of entertainment, and Rain, the upscale, trendy and stylish ''bar and eatery'' in north Mumbai. Successful brands under the bowling company umbrella are the Sports Bar, the Brew Bar and the Bowling Arcade. The company made its entry into the Indian film industry with its first Hindi movie, Khel, which was released in October 2003.