Software and film animation major Padmalaya Telefilms Limited has declared its unaudited financial results for the year ended 31 March 2002.

The net sales of the company which was Rs 474.82 million for the year ending 2001 has increased by 41 per cent to Rs 669.70 million.

The total expenditure for the same period has gone up by 35 per cent from Rs 330.13 million in the year 2001 to Rs 446.13 million.

Net profit has increased by 23 per cent from Rs 96.92 million in 2001 to Rs 119.36 million in March 2002.

The reasons attributed for the comparative decrease in the net profit as compared to the year ended 2001 is due to 100 per cent increase in the depreciation amount from Rs 22.28 million to Rs 45.06 million in March 2002 and an increase in provision for tax which has gone up from Rs 25.48 million in 2001 to Rs 58.62 million in March 2002.

While the net profit after extraordinary income has gone up only by 14 per cent from Rs 106.57 million in 2001 to Rs 121.85 million for the year ended March 2002. The reason for decrease in percentage increase in the net profit after extraordinary income is the decrease in extraordinary income from Rs 14.06 million to Rs 2.5 million.

For the fourth quarter ended March 2002, Padmalaya Telefilms reported sales turnover of Rs 121.6 million and net profit of Rs 24.3 million. Sales were down by 31 per cent from Rs 176.29 million to Rs 121.58 million.

The drop in sales had been on account of delay in broadcasting of some serials on Doordarshan and release of feature film Kya Dil Ne Kaha which is now scheduled to be released in 1st week of June, as per a company release.

Earning Per Share (EPS) is Rs 11.6 for the period March 2002 whil the P/E for the same period is around 12.

When last reports came in the share was trading at Rs 138.50. The share prices were stable as good results were expected from the company.