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| Adlabs lines up Rs 150 cr capex, eyes net profit in FY 10 | |
| Press Trust of India / Mumbai July 2, 2009, 12:25 IST | |
Anil Ambani group company Adlabs Films has lined up a capex of Rs 150 crore for this fiscal and would continue to focus on expansion, a top company official said.
The company is also confident of clocking a net profit this fiscal, Adlabs Films CEO Anil Arjun said.
"We have earmarked Rs 150 crore for expansion and are confident of posting a net profit this fiscal (FY 10)," Arjun added.
The company, which had expended a significant amount on expansion in the last one year, has incurred a loss of Rs 50 crore in FY 2009, though it expanded its topline by 57 per cent to Rs 662 crore.
"Our loss in FY 09 was primarily due to the significant investments made in expansion and scaling-up of our operations," Arjun said.
Investments this fiscal would be for completion of its studio facilities, cinemas, adding screens and for its BPO operations, he added.
The company, which at present has 428 screens (166 in FY 08) plans to ramp this up to 520 this fiscal.
"We have a strong presence in India, and overseas in the US and Malaysia. Over the next two-years, we will expand into the Gulf and South Africa," Arjun said.
On its Mumbai-based BPO, Arjun said that it would be one of the world's largest comprehensive digital restoration and content processing services facilities.
Presently, it has a headcount of 300 which would be scaled up to 1,200 by end-FY 10, he added.
The investment in the BPO is around $35 million, he said.
Adlabs presently has no fund-raising plans and its expansion would be funded through debt and internal accruals, he added.
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