MUMBAI: B.A.G Films Ltd's net profit has dropped to Rs 5.6 million for the quarter ended 30 June 2006, as against Rs 8.8 million in the corresponding period last fiscal.

Total income has slipped to Rs 87.7 million as compared to Rs 135 million during this period.

Profit before tax is at Rs 8.8 million as against Rs 12.2 million in the corresponding period of the previous year.

In an official statement issued today, B.A.G. stated that Star India contributed Rs 33 million while Media Content & Communications (India) Private Limited added Rs 36 million to the reveune kitty of B.A.G Films Ltd.

B.A.G Films Ltd MD Anurradha Prasad said, "During the quarter, we are have strengthened our animation business by entering into a JV with Sieundesign Co. Ltd. In the current year, we also propose to release two feature films for which the production is almost complete. We have also commenced the setting up of infrastructure for our FM radio stations."