JMD Telefilms Industries Q1 net profit up at Rs 2.51 crore

NEW DELHI: JMD Telefilms Industries Ltd (JTIL) on Monday posted a near five-fold increase in its net profit for the first quarter ended June 30, 2011 at Rs 2.51 crore.

The company's net profit for the three months ended June 30, 2010, stood at Rs 53.10 lakh, it said in a filing to the Bombay Stock Exchange (BSE).

JTIL's net sales increased over two-fold at Rs 56.53 crore for the first quarter ended June 30, 2011, compared to Rs 18.97 crore in the same quarter of last fiscal.

JTIL has recently said it will sell up to 14.99 per cent stake to Hongkong-based mobile handset maker Century Exports.

The firm was originally incorporated in year 1984, as Avtar Finance and Management Consultants.

In 2001, it diversified from finance to regional entertainment industry and changed the name to JMD Telefilms Industries.

It has about 1,200 music albums and over 30,000 song titles in their portfolio.

The company's scrips closed at Rs 12.20, down 15.57 per cent from previous close on the BSE.