Hyderabad-based Silly Monks net profit up 215%

The company reported profit for FY 17-18 at Rs 1.18 crore compared to Rs 37.3 lakhs in FY 16-17.

By Author  |  Business Bureau  |  Published: 30th May 2018  6:52 pm
Silly Monks
Source: Official Website

Hyderabad: City-based Silly Monks Entertainment Limited (SMEL) listed in National Stock Exchange of India Limited (NSE Emerge) reported a standalone growth of 181 per cent over last year with a turnover of Rs 8.50 crore in FY 17-18 in comparison to Rs 3.02 crore in FY 16-17, with a corresponding growth of 215 per cent in profit over last FY. The company reported profit for FY 17-18 at Rs 1.18 crore compared to Rs 37.3 lakhs in FY 16-17.

The company also announced on consolidated front, a growth of 31 per cent over last year with a turnover of Rs 15.76 crore in FY 17-18 in comparison to Rs 12 crore in FY 16-17, with a corresponding growth of 34 per cent in profit over last FY. The company reported a profit for FY 17-18 at Rs 2.12 crore compared to Rs 1.58 crore in FY 16-17.

Sanjay Reddy, managing director, SMEL, said, “We are associated with some of the biggest names in digital property management, OTT platforms, social media, movies, music and the list goes on. Having acquired the biggest YouTube Short Film channel in Tamil, called Tamil Short Cuts puts the SMEL cache in the big league given the subscriber base of the channel which continue to go north currently pegged at 2,92,000 subscribers.”

“The past months have seen new offices start functioning in Chennai and Kochi and more in the pipeline to consolidate the SMEL presence in South,” Sanjay added.