12th Feb 2016 16:15
LONDON (Alliance News) - DQ Entertainment PLC said Friday that its 75% owned Indian subsidiary DQE Entertainment (International) Ltd saw a rise in pretax profit for its first nine months.
DQ is a producer and distributor of animated content.
The subsidiary reported a pretax profit of INR413.1 million for the nine months to end-December, up from INR245.4 million a year before, on revenue of INR1.19 billion, up from INR1.08 billion.
The company saw improved results as it delivered projects and began production on new projects. It said it will focus in its current quarter on further improving its operational efficiencies and expanding its human resources to meet production demand in the coming months.
DQ said that it has continued its efforts in respect to collecting receivables from customers, and it is "confident that these actions will enable us to report an improved debtors status by the end of the financial year."
Shares in DQ were up 56% at 2.15 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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