DQ profits from Hollywood deals

Animation house revenue up 61%

HONG KONG — London-listed Indian toon house DQ Entertainment achieved profits of $447,000 in the half year to end September, a figure which compares with a loss of $68,000 in the same period last year.

Company, which is producing “Casper” with Nickelodeon and “Twisted Whiskers” with Disney Channel, saw revenues increase by 61% to $14.4 million and gross profit climb 110% to $3.55 million.

“The market for animation and gaming content has been largely unaffected by the current banking crisis, with the majority of our contracts running over a two to three year period with budgets already agreed and allocated,” chairman Tapaas Chakravarti said.

“We do, however, remain ever mindful of the pressures facing the broader media sector at present and continue to evaluate our cost base and focus on delivering the highest levels of customer service and operational excellence.”

Sony Pictures Entertainment is next month set to give a global release to “Meerabai not out,” the company’s first foray into live-action filmmaking. Pic was co-produced with Pritish Nandy Communications.

DQ, which has a listing on the AIM section of the London Stock Market, recently bought an equity stake in French toon house Method Animation.

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