Prime Focus records Q3 net profit at Rs 22.7 croreFebruary 16, 2017
Q3FY17 CONSOLIDATED INCOME OF RS 5.1 BILLION – UP 8%
Q3FY17 OPERATING EBITDA AT RS 1.2 BILLION – UP 71%
Q3FY17 PROFIT AFTER TAX AT RS 227 MILLION
PROFIT UP IN ALL THREE BUSINESSES:
CREATIVE SERVICES, TECHNOLOGY SERVICES AND INDIA FMS
PFW DELIVERED BLOCKBUSTER MOVIES:
“FANTASTIC BEAST AND WHERE TO FIND THEM” AND “ASSASSIN'S CREE D”
DURING THE THIRD QUARTER OF FY17
CREATIVE SERVICES ORDER BOOK AT $250 MILLION WITH PRESTIGIOUS MOVIE PROJECTS INCLUDING PACIFIC RIM: UPRISING, DUNKIRK, THE MUMMY, WONDER WOMAN, FAST 8, GEOSTORM, JUSTICE LEAGUE: PART 1 AND THE GREAT WALL
TEC/TECH ENABLED SERVICES ORDER BOOK AT $200 MILLION
Mumbai, February 1 4 , 2017 : Prime Focus Limited (PFL) , a global leader in media and entertainment industry services , today announced its financial re sults for the quarter and nine months ended December 31 , 2016 .
The Company delivered stellar results ahead of set targets with consolidated revenues up 8 % YoY at Rs . 5.1 bn, o perating EBITDA up 71 % YoY at Rs. 1.2 b n an d a positive PAT of Rs. 227 mn . The strong performance was driven by robust growth and high profitability across all three businesses .
Key financial h ighlights :
Quarte r ending December ’16 ( Consolidated)
- Total Revenue for the quarter up 8 % YoY at Rs. 5 .1bn from Rs.4.7b n in the quarter ending Dec ’15 , powered by robust growth of 13% in Creative Services and 6% in Tech/Tech Enabled Services
- Creative and Tech/ Tech Enabled services contributed 75 % and 17 % to total segmental revenues , respectively
- Operating EBITDA up 71 % YoY at Rs. 1.2 b n compared to Rs. 716 mn in the same period of the previous year d riven by improved margin profile in Creative Services ( 23 %) and India FMS ( 33 %) along with sustain ed high margins in PFT ( 28 %)
- Operating EBITDA Margin at 24 % compared to 15 % in the quarter ending Dec '15 , much above the targeted margin of 20%
- PAT at Rs. 227 mn compared to Rs. ( 184 ) mn in quarter ending Dec ’15
- Cash Profit (i.e. PAT + Depreciation) at Rs. 880 mn, Cash Profit Margin at 17 %
Nine months ending December ’16 * ( Consolidated)
- Total Reven ue for the nine months ending Dec ’16 is at Rs. 15.0b n
- Creative and Tech/Tech Enabled services contributed 75 % and 17 % of total segmental revenues, respectively
- Operating EBITDA for the period at Rs. 3.1 bn ; EBITDA Margin at 21 %
- PA T for the period at Rs. 854 mn; Includes exceptional gain of Rs. 977 mn
- Cash Profit (i.e. PAT + Depreciation) at Rs. 2.9 bn, Cash Margin at 20 % (Note: 9 MFY17 financials are Ind AS complaint, hence the YoY financials are not comparable)
Key operational highlights for the quarter :
Prime Focus World (PFW)
- Key projects delivered during the quarter include blockbuster movies like Fantastic Beasts and Where to Find Them and Assassin's Creed
- Robust Order book of over $ 250 mn with movies like Pacific Rim: Uprising, Dunkirk, The Mummy, Wonder Woman, Fast 8, Geostorm, Justice League: Part 1 , The Great Wall , amongst others
Prime Focus Technologies (PFT)
- Continue s to Invest in Marketing and Product Development, hired head of business development for Canada
- Signed a deal with existing client Tata Sky , to create exclusive subscriber communications for their Value Added Services
- Order book at $200 mn to be executed over next 3 to 5 years
Commenting on the results , Mr. Namit Malhotra , Founder, Executive Chairman and Global CEO , Prime Focus Ltd said :
“ We are very happy to report strong financial performance this quarter as we move well ahead of set targets. We are today positioned as a leader in all three of our businesses i. e. Creative Services, Technology Services and India FMS and are witnessing accelerating growth along with increasing industry recognition and acclaim.
We are pleased to share that our Creative Services delivered VFX on the recent Hollywood blockbuster “ Fantastic Beasts and Where to find them” which is amongst the top 10 m ovies of 2016 and has grossed over $800 mn at the box office. Our Creative order book is robust $250 mn with many upcoming prestigious projects. Our Tech/Tech Enabled business grew steadily adding new clients and orders while the India FMS business continues to do well, growing rob ustly with high margins, a testimony of our superior quality.
We have established a global track record in delivering top - end, innovative and commercially successful projects. We are beginning to clearly see the benefits of working on a larger canvas.”
About Prime Focus Limited
Prime Focus Limited (PFL), the world’s largest integrated media services powerhouse employs over 7,000 professionals in 14 cities across 4 continents and 7 time zones. We provide end - to - end creative services (visual effects, stereo 3D conversion and animation), technology products & services (Media ERP Suite and Cloud - enabled media services), production services (equipment rental) and post - production services (Digital Intermediate and picture post) to Studios, Broadcast and Advertising industries.
Prime Focus is behind path breaking technologies like CLEAR™ (Hybrid Cloud technology enabled Media ERP Suite), Primetime Emmy® award - winning DAX Digital D ailies® and View - D™ (stereoscopic 2D to 3D conversion process). Leveraging our Global Digital Pipeline and pioneering WorldSourcing® delivery model we partner content creators at every stage of the process ensuring creative enablement, work flow efficienci es and cost optimization.
In mid - 2014 Prime Focus Technologies acquired DAX, a leading provider of cloud - based production workflow and media asset management applications; Prime Focus World merged with Double Negative, one of the world’s foremost provider s of visual effects; and Reliance MediaWorks merged their global film and media services business with Prime Focus Limited.
Listed on the BSE and NSE of India, Prime Focus has operations in Bangalore, Cape Town, Chandigarh, Delhi, Goa, Hyderabad, Johannes burg, Kolkata, London, Los Angeles, Mumbai, New York, Toronto and Vancouver.
For any investor relation s query please contact:
Note: Certain statements made in the document may be forward - looking statements. Such forward - looking statements are subject to certain risks and uncertainties like government actions, economic developments, technological risks, and many other factors tha t could cause our actual results to differ materially from those contemplated by the relevant forward - looking statements. Prime Focus Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to p ublicly update these forward - looking statements to reflect subsequent events or circumstances.
More Press Releases
Prime Focus Technologies to expand in BengaluruAugust 20, 2014
Prime Focus Technologies to showcase ‘Journey to the Cloud’ at IBC 2014September 12, 2014
Prime Focus launches CSR arm Naresh Malhotra FoundationOctober 2, 2014
Prime Focus Technologies appoints Ryan Waldron-Leigh as VP Pre-Sales for Europe, Middle East and AfricaOctober 7, 2014
Prime Focus Technologies Welcomes Rick Crosta as new Vice President of SalesJanuary 7, 2015
Crown Media Signs deal with Prime Focus Technologies (pft) for Cloud Based content managementOctober 7, 2014