Adlabs sees Q1 under pressure; to turnaround in FY10
MUMBAI, July 1 (Reuters) - Adlabs Films Ltd ADLF.BO hopes to see a turnaround in earnings in FY10 as movie releases line up, but the first quarter will continue to be under pressure due to the two-month-long deadlock between producers and distributors, a senior official said.
The firm posted a consolidated net loss of 513.75 million rupees in FY09 against a profit of 474.7 million rupees last year due to heavy investments made in the period, chief financial officer Venkat Devrajan told Reuters over the telephone.
"Turnaround should happen from this year onwards. April-June could possible be under pressure because the entire film industry was on strike. Q1 will not be so good but the negative, so to say, would be recouped in the next nine months as most of the films are getting lined up, one after the other," he said. (Reporting by Swati Pandey; Editing by Sunil Nair)
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