UTV Software

UTV has announced its FY07 results. The company's net profit was up at Rs 55.5 crore (Rs 555 million) from Rs 14.2 crore (Rs 142 million).

Its revenues were down at Rs 203 crore (Rs 2.03 billion) versus Rs 218.2 crore (Rs 2.18 billion).

Ronnie Screwala, Chairman, UTV Software Communications credits the gains from the sale of Hungama stake, which boosted numbers.

UTV plans to raise USD 75 million from overseas listing, which will happen in June.

Their TV and movie business contributed 45% and 55% respectively. He expects the new media business to surge substantially in FY08 and revenues to grow 100%. He expects acqusitions to add Rs 100 cr in FY08.

The EBIDTA was up at 43.5 crores verses 21.4 crores. The company has 8 hindi ,2 International and 2 Tamil Movies ahead of this year. The company is looking for accusation

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