AFR by maclaren1

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									                                                      BABA ARTS LIMITED
                          Regd. Office : 3A, Valecha Chambers, New Link Road, Andheri (West) - 400 053.
         Tel.: (022) 26733131, Fax.: (022) 26733375 email.: info@studiogalaxy.com & investorgreivance@studiogalaxy.com

                              AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31.03.2007


                          Particulars                       Nine Months     Quarter       Quarter
                                                               ended         ended         ended
                                                             31.12.2006    31.03.2007    31.03.2006

 1   Income from Operations                                     1,294.24       568.97        237.33
 2   Other Income                                                  20.77       (19.09)         0.02
     Total ( 1 + 2 )                                            1,315.01       549.88        237.35
 3   Total Expenditure
     a) (Increase)/ decrease in stock in trade                    (8.61)       191.29       (400.50)
     b) Direct Cost                                              857.90        205.65        535.89
     c) Staff Cost                                                 7.48         20.57          1.85
     d) Other expenditure                                         34.87         38.26          4.27
     Total Expenditure                                           891.64        455.77        141.51
     Profit/ (Loss) before Interest, Depreciation & Tax          423.37         94.11         95.84
 4   Interest                                                     38.68         27.23         10.13
      Gross Profit/ (Loss) after Interest but before
      depreciation, taxation & others                            384.69         66.88         85.71
 5   Depreciation                                                 60.42         31.61         44.66
 6   Profit/ (Loss) before Tax                                   324.27         35.27         41.05
 7   Provision for taxation
     - Current Tax                                                36.73          3.27          9.75
     - Fringe Benefit Tax                                          0.54          0.31          0.10
 8   Net Profit/ (Loss) ( 6 - 7 )                                287.00         31.69         31.20
 9   Prior Year Provision for Vat                                   -            9.14           -
10   Net Profit/ (Loss) after Prior Year Income/ Expenses        287.00         22.55         31.20
11   Paid-up equity share Capital
     (Face Value of Rs. 4/- per share )                          402.02        402.02        402.02
12   Reserves excluding revaluation reserves                        -             -             -
13   Basic EPS (in Rs.)                                            2.86          0.32          0.31
14   Diluted EPS (in Rs.)                                          2.86          0.31          0.31
     (not annualised)
15   Aggregate of Non - Promoter Shareholding
     - Number of Shares                                        4,659,836    4,659,836     4,523,511
     - Percentage of Shareholding                                  46.36        46.36         45.01
 (West) - 400 053.
estorgreivance@studiogalaxy.com

ED 31.03.2007

                               (Rs. In Lacs)
                   Year       Previous Year
                  ended           ended
                31.03.2007     31.03.2006
                 Audited         Audited
                   1,863.21         2,122.95
                       1.68             1.42
                   1,864.89         2,124.37

                    182.68          (375.50)
                  1,063.55         2,038.29
                     28.05             7.78
                     73.13            45.27
                  1,347.41         1,715.84
                    517.48           408.53
                     65.91            34.58

                    451.57           373.95
                     92.03           161.66
                    359.54           212.29

                     40.00             9.75
                      0.85             0.34
                    318.69           202.20
                      9.14              -
                    309.55           202.20

                    402.02           402.02
                    372.28           131.50
                      3.17             2.01
                      3.16             2.01


                 4,659,836        4,523,511
                     46.36            45.01
                                SEGMENT WISE REVENUE RESULTS AND CAPITAL EMPLOYED

                             Particulars                                Nine          Quarter        Quarter
                                                                      Months
                                                                       ended          ended           ended
                                                                     31.12.2006     31.03.2007      31.03.2006

                                                                      Rs. Lacs       Rs. Lacs        Rs. Lacs
1    Segment Revenue (Net Sales)
     a) Production/ Post Production Activities                            107.01          36.06           54.33
     b) Trading in Film Rights                                            785.67         340.90          182.90
     c) Production of Hindi Films                                            -              -               -
     d) Production of Tamil Films                                         401.56         192.01             -
     Total Net Income From Operations                                   1,294.24         568.97          237.23
2    Segment Results - Profit before tax & Interest
     a) Production/ Post Production Activities                            (14.78)        (36.27)          (9.47)
     b) Trading in Film Rights                                            329.69           8.21           69.30
     c) Production of Hindi Films                                          (2.43)        (13.27)            -
     d) Production of Tamil Films                                          67.87         104.59             -
     Total                                                                380.35          63.26           59.83
     Less : Interest Expenses                                              38.68          27.23           10.13
           Others (Unallocable Income - Unallocable Expenses)              17.40           0.76            8.65
     Total Profit Before Tax                                              324.27          35.27           41.05
3    Capital Employed
     (Segmental Assets - Segmental Liabilites)
     a) Production/ Post Production Activities                               -           351.67          419.53
     b) Trading in Film Rights                                               -           199.93          327.19
     c) Production of Hindi Films                                         232.95          56.83             -
     d) Production of Tamil Films                                            -           186.61             -
     Add : Unallocated Net Assets                                         985.62         199.25         (213.19)
     Total Capital Employed                                             1,218.57         994.30          533.53

Notes

1    The above Audited Financial Results were reviewed by the Audit Committee and thereafter taken on record by the Board of
     Directors at its meeting held on 29th June, 2007.
2    The activity of Trading in Film Rights and Production of Films is such that income from the said activity and correspondingly
     Profits/ Losses from the same do not necessarily accrue evenly over the year. As such the results for the current quarter may not
     be representative of the Profits/ Losses for the full year.
3    The company is holding rights in respect of several films whose total cost of acquistion have already been written off. However
     the company will continue to earn income on the same during the period upto which the said rights vest in the company.
4    The company received One investor complaint during the quarter there was no unresolved complaint pending at the end of the
     quarter.
5    The previous period figures have been regrouped/ re-arranged, wherever necessary, to conform with current classifications.

                                                                                                        On behalf of the Board of Directo



Place : Mumbai                                                                                         Gordhan P. Tanwani
Date : 29th June, 2007                                                                                 Chairman & Managing Directors
MPLOYED

                    Year           Previous
                                     Year
                   ended            ended
                 31.03.2007       31.03.2006
                  Audited          Audited
                  Rs. Lacs         Rs. Lacs

                      143.07             171.27
                    1,126.57           1,951.68
                         -                  -
                      593.57                -
                    1,863.21           2,122.95

                      (51.05)           (85.51)
                      337.90            363.30
                      (15.70)              -
                      172.46               -
                      443.61            277.79
                       65.91             34.58
                       18.16             30.92
                      359.54            212.29


                      351.67            419.53
                      199.93            327.19
                       56.83               -
                      186.61               -
                      199.25           (213.19)
                      994.30            533.53




aken on record by the Board of

 aid activity and correspondingly
ults for the current quarter may not

already been written off. However
rights vest in the company.
mplaint pending at the end of the

m with current classifications.

     On behalf of the Board of Directors



    Gordhan P. Tanwani
    Chairman & Managing Directors

								
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