Basilic Fly Studio Reports Rs 77 Cr in Total Revenue for H1 FY25
Nov 15, 2024
PNN
Mumbai (Maharashtra) [India], November 15: Basilic Fly Studio Limited (BFS), one of the leading visual effects (VFX) studios, announced its Unaudited Financial Results for H1 FY25.
Commenting on the performance, Balakrishnan, Managing Director & CEO of Basilic Fly Studio Limited said, "We reported decent financials. Our decent growth in margins shows our operational resilience and commitment to delivering high-value visual effects solutions.
As the industry recovers following the recent Hollywood strike resolutions, we are seeing a new wave of opportunities, with large-scale projects returning. This recovery is driving growth prospects, and we are well-positioned to capitalize on these opportunities, expecting a stronger second half of the year.
A highlight of this year has been our acquisition of One of Us, a recognized VFX studio celebrated for its award-winning work in high-profile fantasy and sci-fi productions. This acquisition strengthens our creative and operational capabilities, allowing us to offer world-class VFX solutions to a wider client base. One of Us brings cutting-edge AI technologies and strong client relationships that will help us deliver even more immersive and innovative content.
We incurred a one-time acquisition cost and with this expense now behind us, we expect margins to improve going forward. We are also leveraging this acquisition to enhance efficiencies across our London and India operations, combining our strengths to deliver faster turnarounds, maintain competitive pricing, and uphold the quality that sets Basilic Fly apart.
Moving ahead, Basilic Fly is well-positioned for growth. Our strategic acquisition has shifted us from subcontracted work to securing direct contracts, boosting margins and operational control. We are expanding into new markets and diversifying into the gaming VFX sector, capitalizing on the growing demand for high-quality visual effects. With a focus on innovation and excellence, we are confident in our continued expansion and leadership in the global VFX, animation, and gaming industries."
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