Network 18 Declares Quarterly Results
20 Januar 2010 - 5:07PM
UK Regulatory
TIDMIFC
RNS Number : 8724F
Indian Film Company Limited (The)
20 January 2010
Press Release
20 January 2010
The Indian Film Company Limited
("IFC" or the "Company")
Network 18 Declares Quarterly Results for Quarter Ended 31 December 2009
The Indian Film Company Limited (AIM:IFC), a leading Bollywood film investment
company, announces that Network 18 Media and Investments Limited ("Network 18"),
the parent company of IFC, will be releasing its quarterly results to the BSE
and NSE in India tomorrow. These will be available on Network 18's website,
www.network18online.com.
The financial information presented in Network 18's quarterly results includes
information based upon IFC's management accounts which have been prepared on the
basis of Indian GAAP. The revenue figure being reported for IFC for the period
from 1 October 2009 to 31 December 2009 in Network 18's quarterly results is INR
316.38 million (GBP4.16 million).
Based upon IFC's management accounts prepared on the basis of IFRS, the revenue
figure for the quarter ended 31 December 2009 is GBP4.16 million.
The Network 18 quarterly results also include the following operational
highlights in respect of IFC:
- The films slated for release, in the fourth quarter of the current financial
year are "Striker", "Road Movie", "Kaun Bola" and "Banda yeh Bindaas hai"
- The Company signed up deals worth INR 240 million for satellite syndication of
films in its library
- The Company's productions and co-production projects are at various stages of
completion and are progressing as scheduled.
+----------------------------------------------------------------------------+--+
| For further information, please | |
| contact: | |
| The Indian Film Company Limited | |
| www.theindianfilmcompany.com | |
| Sandeep Bhargava Tel: +91 22 6629 1723 | |
| Grant Thornton Corporate Finance | |
| (Nominated Adviser) | |
| Fiona Kindness Tel: +44 20 7383 5100 | |
| Elara Capital plc (Broker) | |
| Henry Burrows/Mary Phelan Tel: +44 20 7486 9733 | |
| Pelham Public Relations | |
| Alex Walters/Francesca Tuckett Tel: +44 20 7337 1500 | |
| | |
+----------------------------------------------------------------------------+--+
| | |
+----------------------------------------------------------------------------+--+
Notes to Editors
The Indian Film Company Limited is a specialist film investment company which
was admitted to trading on the AIM market in June 2007 and raised GBP55 million
in order to invest in a diverse portfolio of Indian films targeted at the Indian
audiences across varying genre, language and budgets. The Company is managed by
Film Investment Managers (Mauritius) Ltd., which is jointly and equally owned by
Viacom Inc. and BK Media Mauritius PVT. BK Media Mauritius PVT is owned by
Raghav Bahl, the founder and controlling shareholder of Network 18.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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