DQ Entertainment sees profit

Indian animation co. nets $4.4 million gain

HONG KONG — Indian animator DQ Entertainment unveiled pre-tax profits of $7.4 million for the year to March in its first annual results report since listing on the London Stock Exchange in December. Figures include an exceptional gain of $4.4 million.

Adjusted profit of $3 million compares with a profit of $620,000 in 2006-07. Revenue climbed from $15.2 million to $24.1 million.

Company, which is involved with “Iron Man” (with Marvel and Method Films) and “Casper” (with Classic Media, Entertainment Rights and Moonscoop), is increasing the number of properties it generates on its own account or with partners. In the past year, it has struck alliances with Pritish Nandy Communications/Sony Pictures Entertainment for a foray into live-action films and, separately, with Moonscoop and Percept Pictures in the animation sector.

“The continued demand for our services coupled with the high levels of growth experienced within the Indian economy and the media and entertainment sector leaves us confident that 2008-09 will be another year of continued growth,” chairman-CEO Tapaas Chakravarti said in a statement.

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