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Adlabs lines up Rs 150 cr capex

Source : PTI
Last Updated: Thu, Jul 02, 2009 09:43 hrs

Adlabs Films, an Anil Ambani group company, has lined up a capex of Rs 150 crore this fiscal and would continue to strongly focus on expansion, a top company official said. He also expressed confidence that the company would clock a net profit t his fiscal.

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"We have earmarked Rs 150 crore for expansion and are confident of posting a net profit this fiscal (FY 10)," Adlabs Films' CEO, Anil Arjun, said here.

The company, which had expended a significant amount on expansion in the last one year, has clocked a loss of Rs 50 crore in FY 09, 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, Arjun said. The company, which presently has 428 screens (166 in FY 08) plans to ramp this up to 520 this fiscal.

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"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.




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