Mukta Arts posts 33 per cent growth in revenue

The media company managed to narrow its loss in Q3FY19. The company closed a deal with Tips Industries for extension of all audio and music video rights for a royalty of Rs. 9.63 crore.

For Q3FY19, Mukta Arts' reported consolidated revenue of Rs. 4,072.84 lakh as against Rs. 3,057.00 lakh in Q3FY18, an increase of 33.2 per cent. While the company managed to cut its net loss to Rs. 274.84 lakh in Q3FY19 as against Rs. 312.60 lakh in Q3FY18.

Segment-wise, the company's subsidiary Whistling Woods which operates in education sector posted a 19 per cent growth in revenue for the quarter. Its exhibition business segment Mukta A2 Cinemas posted a 43 per cent YoY revenues growth in Q3FY19 and turned EBITDA positive. The company total screen count is at 64 screens, including 6 in Bahrain and 10 under the joint venture with Asian Cinemas.

Meanwhile, the stock closed at down by 1.38 per cent at Rs. 35.70 per share on the BSE. It opened at Rs. 35.40 per share and touched its intraday high and low at Rs. 36.60 and Rs. 35.20 per share, respectively.