Mumbai: Prime Focus Limited (PFL) declared its financial results for the quarter ending Sep 30, 2017. The Company reported consolidated revenues at Rs. 5.69bn, up 18% YoY, EBITDA up 54% YoY at Rs. 1.42bn and a PAT of Rs. 219mn driven primarily by robust performance in Creative Services.
Key financial highlights Q2 FY18 (Consolidated Financials)
- Revenue at Rs. 5,686mn up from Rs. 4,837mn in Q2 FY17 driven by 26% YoY growth in Creative Services
- Creative & Tech/Tech Enabled Services contributed 77% & 15% to revenues, respectively
- Adjusted EBITDA* up 54% YoY at Rs. 1,421mn (Q2 FY17: Rs. 924mn), with margin at 25.0% (Q2 FY17: 19.1%)
- Operational efficiency continue to increase, Personnel cost as % of revenue down to 56% (Q2FY17: 61%) PAT of Rs. 219 mn as against Rs. (395) mnYoY, PAT margin of 3.8%
- Includes Non-Cash Esop charge of Rs. 139 mn (Q2 FY17: Rs. 65 mn)
- (Note: *Adjusted for ESOP charges)
6M FY18 (Consolidated Financials)
- Revenue for the period up 8% YoY at Rs. 10,928mn (6M FY17: Rs. 10,112mn)
- Adjusted EBITDA* up 32% YoY at Rs. 2,560mn (Q2 FY17: Rs. 1,941mn), with margin at 23.4% (6M FY17: 19.2%)
- PAT** of Rs. 249 mn as against Rs. (320) mnYoY, PAT margin of 2.3%
Includes Non-Cash Esop charge of Rs. 255 mn
(Note:*Adjusted for ESOP charges, ** 6MFY17 loss after tax is adjusted for Exceptional gain)
Commenting on the results, Mr. Namit Malhotra, Founder, Executive Chairman and Global CEO, Prime Focus Ltd said, ”It has been a robust quarter for Prime Focus with strong growth in both revenue and profitability. Our Creative Services reported accelerated growth delivering marquee projects and adding many more to the order book. Our cost optimization strategy to deliver higher proportion from cost advantageous locations took firm shape and have taken EBITDA Margin to 25%. Our Tech/Tech Enabled continue to add new contracts, new certifications and win new industry accolades while outlook for India FMS business continues to look buoyant. We successfully redeemed Non- Convertible Debentures amounting Rs 1.9 bn to Standard Chartered Private Equity ahead of time. We look forward to a promising second half with great optimism as holiday season kicks in.”
