Mukta Arts Limited has shown profits in what has been a testing year for the entertainment industry. With large systemic shocks like Demonetisation as well as poor results from some highly anticipated films, the company has managed to move back into the black and has posted a net profit of Rs 72 lacs as opposed to showing a loss of Rs 1.75 crores over the same period the year before.
For the quarter just ended, the company showed a profit of Rs 1.84 crores against a loss of Rs 2.77 crores over the same period last year.
The company has also seen its education subsidiary, Whistling Woods International post its first ever post tax profit, showing positive results of Rs 1.76 crores for the year ended. Whistling Woods International also saw strong growth in its revenues for the year, growing from Rs 28.12 crores to Rs 34.25 crores largely on account of higher student admissions during the year. EBITDA has also increased substantially by over 42% from Rs 6.81 crores to Rs 9.68 crores which is a margin of 28%.
The exhibition division, Mukta A2 Cinemas however, showed losses after a difficult trading year for the film exhibition business. The division has now been successfully hived off into a separate wholly owned subsidiary, Mukta A2 Cinemas Limited, and has seen strong trading in the first few months of the new financial year.