Mumbai: Prime Focus Limited (PFL), the global leader in media and entertainment industry services, declared its unaudited financial results for the quarter and nine months ending March 31, 2015 on May 15, 2015. The Company posted Q3FY15 consolidated revenues of Rs 4,205mn with EBITDA of Rs 1,051mn driven by robust revenue growth across the creative and technology businesses combined with increasing synergies from progressive integration of Prime Focus World (PFW) and Double Negative (DNeg).
The revenues of Prime Focus of Q3FY15 (Consolidated) ending March’15 stood at Rs 4,205mn, up 32% QoQ compared to Rs 3,187mn in quarter ending Dec-14, driven by 20% & 23% revenue growth in Creative & Technology services respectively.
Its Creative and technology businesses contribute over 90% of revenue and recurring EBITDA
And the EBITDA for the quarter were up 196% QoQ to reach Rs 1,051mn compared to Rs 355mn in quarter ending Dec-14. while, PFL margin expands from 11% in Dec-14 quarter to 25% in Mar-15 quarter with increased revenues and global cost integration initiatives.
Commenting on the results, Mr. Namit Malhotra, Founder, Executive Chairman and Global CEO, Prime Focus Ltd said, “It has been a progressive quarter for us in terms of accolades for our work and a steep step up in performance. We brought Double Negative into the Prime Focus fold with the intention of adding “A”-level pedigree on the Hollywood side and this has already started to deliver with the Oscar for VFX in Interstellar. On the Indian side of the business, the merger with Reliance MediaWorks has established Prime Focus as a distinct leader in the Indian creative services space. The recent win for Kick at IIFA 2015 adds another feather to our cap. On the technology side, Hotstar and BARC are two major validations of PFT’s technology competence and Digital Next is exactly what the market wished for. DAX integration has started to yield results in the US market too. The combination of this strength in creative services and our fast expanding Cloud technology business has built a substantial powerhouse from a M&E product and services standpoint — expanding customer base of CLEAR Media ERP and cloud media services; the profiles of the movies we’re doing on both sides of the world; and the level of infrastructure that we’ve added is second-to-none. I am glad to state that we have a higher order book and more robust order pipeline across all our business segments than ever before – the entire management team is focused on execution on both revenue growth as well as achieving the significant synergies across our business segments”.
DNeg, which is a part of Prime Focus World has won the 2015 Academy Award for Best Visual Effects for its spectacular work in Christopher Nolan’s Interstellar This is the second Oscar for DNEG, having won earlier for Nolan’s Inception.
DNeg’s Key projects delivered include recent Hollywood & Bollywood hits – Avengers: Age of Ultron, Mortdecai, Ex Machina, The Gunman, Baby, Badlapur, Tevar and Dolly ki Doli.
Prime Focus Technologies (PFT) Launches ‘Digital Next’ Go to Market campaign at its most successful NAB Show to date, in April 2015 in Las Vegas, USA: offering a compelling suite of Digital & CLOUD solutions for M&E enterprises expanding their Digital presence.
Riding on the success of Starsports.com, PFT’s CLEAR Operations Cloud now powers packaging and delivering all content on the resoundingly successful Hotstar Digital Platform of Star India.
