Anil Ambani''s Adlabs records 131 per cent revenue growth

Mumbai: Adlabs Films Limited (ADLABS), a member of the Reliance Anil Dhirubhai Ambani Group, which has morphed into an entertainment conglomerate, has announced a 131 per cent revenue year-on-year growth for the quarter ended 30 September 2007.

According to a release by the company, revenues across all divisions logged growth in the quarter, compared to the corresponding quarter last year.

Adlabs spans production of films and TV content, film processing and services, domestic and international distribution of content and cinemas. According to the company, it presently has a market capitalisation of over Rs2800 crore.

Adlabs'' cinema division grew 71 per cent to Rs41 crore, and now operates 110 silver screens and 35 properties across the country. Movie halls across the country are showing expansive growth.

The company''s film processing and services division recorded a 6 per cent increase at Rs22 crore, and the film production and distribution business contributed Rs81 crore.

According to Manmohan Shetty, chairman and managing director, Adlabs, "This quarter has been one of consolidation and the platform has been built for aggressive growth ahead." He said performance had been affected by some films that did not perform to expectations.

Adding further, he said the company has further firmed up its position as the largest cinema chain in the country, and will have 125 screens across India by Diwali this year.

Shetty says that Adlabs has aggressive plans new businesses in the services division as well as some promising film releases during the next few quarters.