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Crest Animation posts 40% higher quarterly net profit at Rs 81 lakh
BY A BUSINESS CORRESPONDENT
1 August, 2005: Crest Animation Studios Limited has
posted a 7% rise in sales to Rs 7.3 crore for the quarter
ended June 30, 2005 as compared to Rs 6.9 crore for the
corresponding quarter of the previous year. Profit before depreciation, interest and tax (PBDIT) stood at Rs 2.7 crore, compared to Rs 2.7 Cr of the previous corresponding period.
Net Profit for the quarter at Rs 80.8 lakhs is up by 40% over the net profit of Rs 57.8 lakhs reported during corresponding quarter of the previous year.
Crest Animation Studios is steadily moving ahead on its way to become a globally recognized 3D animation studio. AK Madhavan, CEO of Crest Animation Studios Limited said: "A slew of repeat orders for Jakers and Bratz and partnering with names such as Mainframe Entertainment and Lions Gate Family Entertainment to create a feature film not only vindicates our capabilities but is also in line with Crest's growth plans."
During the quarter, Crest Animation Studio's US based subsidiary, RichCrest Animation partnered with Mainframe Entertainment and Lions Gate Family Entertainment to create the feature film, Arthur's Missing Pal. Mainframe Entertainment will co-produce the film. It has also acquired international distribution rights for the all-new CG animated direct-to-video film based on the tremendously popular "Arthur" children's book series.
Having made its presence in the television computer animation space, Crest is currently vying for the home video and theatricals market.
BY A BUSINESS CORRESPONDENT
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