9th Nov 2015 15:31
LONDON (Alliance News) - DQ Entertainment PLC Monday reported an increase in profit in the first half of its financial year as revenue growth in the production division offset a decline in the distribution division.
The Indian entertainment production and distribution company said its pretax profit in the half year ended September 30 grew to INR78 million from INR4 million in the same period the year before, as revenue rose to INR736 million from INR733 million.
Of this, production revenue increased to INR632 million from INR500 million, but distribution revenue fell to INR101 million from INR233 million.
It said it saw an improvement in the global market, particularly in North America, which helped boost sales.
"Our continuous efforts in respect of collecting receivables from customers are bringing in positive results, with remittances being received from almost all clients concerned. We are confident that these actions will enable us to report a significantly reduced debtor position by the end of the financial year," DQ said in a statement.
Shares in DQ were trading up 2.7% at 4.75 pence Monday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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