MUMBAI: Reliance ADAG-owned Adlabs Films Ltd, the largest multiplex operator by number of screens, plans to invest Rs 2 billion this fiscal for expanding its lines of businesses.
Adlabs is also considering raising long term resources by issue of equity shares or other securities by way of rights offer to existing members. The board will meet to this effect on 12 August.
The company is setting up a studio at Film City in Mumbai which will take away Rs 800 million. Adlabs, which already has 457 screens, plans to add 80 screens during the year.
“We will be investing Rs 2 billion this fiscal and are adding 80 screens in the year,” Adlabs chief executive officer Anil Arjun tells Indiantelevision.com.
For the 12-month period ended March 2009, Adlabs swung into a net loss of Rs 513.75 million as it ramped up its multiplex business. Revenue, however, more than doubled to Rs 6.62 billion. While income from theatrical exhibition was at Rs 3.4 billion, the film production and distribution segment kicked in Rs 2.1 billion. The film facilities business posted a revenue of Rs 1.3 billion.
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