MUMBAI: The weak ad environment caused by the economic slowdown is starting to hit the bottom line of Viacom. The US media conglomerate has reported a fall in its profit and revenues.

While profit fell by seven per cent, revenue decreased 14 per cent to $3.24 billion, driven primarily by the mix of film titles and lower ad revenues. Adjusted operating income was $903 million in the quarter, down nine per cent, reflecting the overall decline in revenues, partially offset by lower expenses.

Adjusted net earnings from continuing operations attributable to Viacom declined by 12 per cent in the quarter to $512 million, and adjusted diluted earnings per share from continuing operations decreased by two per cent to $0.97 per diluted share.

The comparison with 2011 was impacted by the fact that Viacom?s 2011 third quarter included substantial timing benefits from major films and television event programming, as well as digital distribution agreements.

Viacom executive chairman Sumner M. Redstone said, "We continue to develop outstanding creative content on every platform while efficiently executing Viacom?s strategy. We are confident that Viacom?s unrivaled portfolio of powerful brands will continue to grow and evolve over the long term as we entertain and inspire new audiences around the world every day."

Viacom president, CEO Philippe Dauman said, "Despite challenging year-on-year comparisons with last year?s strong third quarter, Viacom remains committed to pursuing its long-term strategy of international expansion, continued programming investment and ongoing focus on operational discipline. Viacom continues to bring cultural powerhouses to fans around the world, and we are aggressively investing in our brands to create new hits, like Workaholics and Legend of Korra, now the most watched kid?s program on cable in the quarter. Paramount also continued to strengthen its platform by aligning its slate to provide upcoming releases with the best possible opportunity to succeed in the global marketplace."

Quarterly revenues of $3.24 billion decreased from $3.77 billion in the prior year. Media Networks revenue declined 5 per cent to $2.27 billion, driven by lower advertising and ancillary revenues.

Domestic advertising revenues decreased 7 per cent, impacted by the timing of event-driven programming compared with the prior year?s quarter. Worldwide advertising revenues decreased 9 per cent in the quarter.

Domestic affiliate revenues decreased 1 per cent, reflecting the significance of digital affiliate revenues in the same quarter last year. Excluding the impact of digital distribution arrangements, domestic affiliate revenue growth rate was in the high-single digits. Worldwide affiliate fees increased 1 per cent.

Film revenues were down 29 per cent to $1.01 billion. Worldwide theatrical revenues decreased by 52 per cent in the quarter to $283 million, reflecting the number and mix of the company?s current quarter releases. During the quarter, Paramount released three films,DreamWorks Animation?s ?Madagascar 3: Europe?s Most Wanted?, ?The Dictator? and ?Titanic 3D?. In the comparable period of 2011, Paramount released four films: DreamWorks Animation?s ?Kung Fu Panda 2?, Marvel?s ?Thor?, ?Super 8? and ?Transformers: Dark of the Moon?.

Worldwide home entertainment revenues declined by eight per cent in the quarter, driven by the mix of available titles, and worldwide television license fees decreased by 24 per cent reflecting both the number and mix of titles. Worldwide ancillary revenues increased by 44 per cent to $104 million in the quarter, driven by higher digital revenues.

Adjusted operating income decreased 9 per cent to $903 million in the quarter. Media Networks adjusted operating income declined $99 million, reflecting lower overall revenues, partially offset by a decrease in expenses. Filmed Entertainment adjusted operating income decreased $3 million, reflecting the revenue decline, substantially offset by lower expenses. Corporate expenses decreased $15 million, principally reflecting lower variable compensation costs.

Quarterly adjusted net earnings from continuing operations attributable to Viacom decreased $71 million, or 12 per cent, in the quarter ended 30 June, 2012, principally due to the decline in adjusted operating income. Adjusted diluted earnings per share from continuing operations for the quarter were $0.97, a decrease of $0.02 from the prior year?s comparable quarter.

MUMBAI: Prime Focus Limited has posted a consolidated net profit of Rs 992.5 million for the fiscal ended 31 March 2012, a 30.4 per cent jump compared to Rs 760.9 million a year ago.

The company?s net income jumped 53.5 per cent to Rs 7.72 billion during the fiscal, compared to the Rs 5.03 billion that the company posted in FY?11.

Prime Focus? Ebitda also went up 24.9 per cent to Rs 588.2 million, compared to Rs 470.8 million in the year-ago period.

Prime Focus MD & CEO Ramki Sankaranarayanan said, ?Our strategy on 3D is continuing to work, with the unparalleled success of the theatrical release of the new and old 3D titles worldwide. Whether it is Star Wars, Avengers, Wrath of the Titans, Immortals, Titanic or Men in Black 3, all have significant collections worldwide, putting the rest to argument whether theatrical 3D is viable business or not. Noteworthy, is the success of the 3D release of the library titles? with our market dominant position, bodes very well for the growth momentum in the next year as well.?

?Our VFX business has also witnessed growth as we leverage our strong relationships with Hollywood studios to increase our share in the $5 billion market. We continue to invest to grow the global digital pipeline across Vancouver, London, Hollywood and Indian VFX content creation studios, bringing in clients the best mix of talent, scale and technology, delivering projects, like Men In Black 3, Immortals, or the currently ongoing Dredd.?

PFL is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market.