Mumbai, February 13, 2019: Mukta Arts Limited today announced the financial results for the third quarter and nine months ended on December 31, 2018, as approved by its Board of Director.
Consolidated revenue for Q3 FY19 grew by 33.2% y-o-y; from Rs 30.5 crores to Rs 40.7 crores. Whistling Woods International, a Mukta Arts' subsidiary in the education business posted a 19% growth in revenue for Q3 FY19. During the quarter, Whistling Woods hosted the CILECT Congress, a globally renowned & prestigious event in the film education fraternity. This was the first time that the event was held in India. It attracted eminent keynote speakers and a total of 171 delegates represented 52 countries.
Mukta A2 Cinemas, a subsidiary into exhibition business posted a 43% y-o-y growth in Q3 FY19 revenues at Rs 19.7 crores and turned EBITDA positive. The company added 5 new screens recently and its total count as of today stands at 64 screens, including 6 in Bahrain & 10 under its JV with Asian Cinema.
For 9M FY19, the company's consolidated total revenue at Rs 124.3 crore grew by 23%. EBITDA for nine months was Rs 11.7 crore while Total Comprehensive income at Rs 1.7 crore as against Rs 1.4 crore after extraordinary income of Rs 4.3 crore during the corresponding previous nine months of FY18.
Commenting on its performance, Rahul Puri, Managing Director, Mukta Arts said, "Both our key businesses, exhibition and education reported strong revenue growth during Q3. Even for nine months, the revenue growth of over 20% is quite healthy and we reported a small post tax profit compared to losses during the similar period last year. We see good traction across the businesses".
Mukta Arts Limited is one of India's leading production houses with business interests across the entertainment spectrum from Exhibition to Education. The company has a library of over 35 hit films and has a brand that is globally recognized with quality and entertainment. Mukta Arts has successfully diversified its business into other areas of the film industry. The company has a thriving Distribution and Programming business, Mukta Movies Distributors, which has offices across India and has most of the major multiplex chains as partners. The company runs its own chain of Multiplex theatres under Mukta A2 Cinemas. These cinemas operate on an innovative model and focuses on delivering quality to patrons. The company has opened Asia's largest and best Film, Television, Animation and Media School - Whistling Woods International, that continues to create its reputation of high-quality education worldwide. The Institute now has over 1850 graduates successfully placed since inception and 1045 students currently studying on campus.