Prime Focus Limited Declares Q3 FY17-18 Results

Prime Focus Limited (PFL) has declared its financial results for the quarter and 9 months ending December 31, 2017. The company reported consolidated quarterly revenue of Rs. 609 crore, up 20 percent YoY, and adjusted EBITDA of Rs. 157 crore driven by robust performance across all business segments, particularly the creative services business which continues to benefit from integration and consolidation of facilities worldwide.

The company has also announced issuance of warrants worth Rs. 330 crore, on a preferential basis, to the promoter, the funds raised would be used largely toward debt reduction. The board has also approved the re-appointment of Nishant Fadia as CFO of PFL; Vikas Rathee will continue his duties as CFO of Prime Focus World/Double Negative.

9-month FY18 (consolidated financials). Revenue for the period is up 12 percent YoY at Rs. 1702.5 crore (9-month FY17: Rs. 1519.2 crore). Adjusted EBITDA is up 30 percent YoY at Rs. 413.5 crore (9-month FY17: Rs. 317.2 crore), with margin at 24.3 percent (9-month FY17: 20.9 percent). Operating PBT is Rs. 66.9 crore (9-month FY17: Rs. 2 crore).

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