Recent IPR Acquisitions To Unlock Value Over FY08
Mumbai, July 16, 2007: Mumbai based Baba Arts Limited, a major player in Intellectual Property Rights (IPRs) in the Entertainment space, has seen a 382.43% year on year jump in its Total Income for the quarter ended June 30, 2007, at Rs 150.6 million from Rs 31.2 million for the corresponding period last year.
The IPR segment has contributed up to 76%, or Rs 113.9 million, to the top line. "The company currently holds satellite and other rights of several films, whose total cost of acquisition has already been written off, so that when Baba Arts exploits these rights in the future, almost 100% income will go straight to both the top line and the bottom line," said Mr. Gordhan Tanwani, CMD, Baba Arts Limited.
Recently, Baba Arts acquired the Copyrights, excluding Theatre and Music Rights, of the new live-action animated film 'My Friend Ganesha' for a period of 11 years. These include: the World Wide Video Rights; World Wide Rights for all TV Formats; Theatrical Rights outside India; Internet and Broad Band Rights; Air Borne and High Seas Rights; and Mobile Rights. Baba Arts has already sold the Satellite Rights and Merchandising & Licensing Rights to STAR Network. The company has also acquired rights for telecasting blockbuster Hindi movies like 'Krrish', 'Bhaagam Bhaag', 'Honeymoon Travels', 'Zinda', and others on state channel Doordarshan.
The company's Net Profit for the quarter ended June 30, 2006, is at Rs 7.6 million, while Basic Earnings Per Share (EPS) is at Re 0.76 per share. The activity of trading in IPRs is such that the income and corresponding profits do not necessarily accrue evenly over the year, and results for the current quarter are thus not totally representative for the full year. For the year ended March 31, 2007, Baba Arts recorded Total Income of Rs 186.5 million, while Net Profit was at Rs 30.9 million.
About Baba Arts LImited
Baba Arts is a multifaceted Entertainment company, poised to quickly become an influential industry spokesman. It has four divisions dealing in areas of Intellectual Property Rights space, film production, home video and post production. The company has handled 42 films for Doordarshan to telecast, and deals with all other major television channels as well, like Star TV, Sony, Zee Network etc. The company also plans to venture into the business of acquisition of various rights for the South Indian film industry, viz., Home Video Rights, Overseas Rights, and Audio Rights.
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