In this time of crisis I hope you and your family are safe. The recent crisis haspushed the boundaries of every individual and business to acknowledge the disruption andexhibit responsiveness at all levels. During these unusual times your Company has facedthe challenge of the pandemic by immediately mobilizing efforts to protect employees andour immediate communities. At this point a new normal in day to day activities has beenput in place to operationalize the activities in the Company. I take this opportunity tothank the teams for their adaptability and resilience. As we acknowledge that the pandemichas impacted the economic activity we are also resolute in emerging stronger from thischallenge.
Emerging consumption pattern of media amongst the Indian consumer has been key driverof growth of the Indian Media and Entertainment industry. Demand for content has peakedwith the deepening penetration of various OTT platforms aligned with the increasing dataconsumption across India. In line Indian Film Industry has also continued to dominate asworld leader in terms of the movies produced and tickets sold.
During the year your company had released motion picture titled "Evaru" inTelugu which received remarkable response from audiences and critiques alike. The filmwas a runaway hit at the box office and set a new benchmark for crime thriller genre.
Your company had also been actively pursuing opportunities by acquiring Telugu remakerights of other regional language films and is planning to release them after carefulevaluation of the readiness of the distribution channels to maximize revenues for thecompany.
Going forward we expect the immediate economic conditions to present newer challengesand your company continues its cautious tread in evaluating special situations withinnovative content and secured distribution channels. We are also strategizing variousemerging opportunities from digital distribution platforms and shall endeavor to make thebest use of them.
Prasad V. Potluri