Phantom Digital Effects Limited Reports Remarkable 103 per cent Surge in Q3 FY24 EBITDA
Feb 16, 2024
PNN
Mumbai (Maharashtra) [India], February 16: Phantom Digital Effects Limited (NSE: PHANTOMFX), a creative visual effects (VFX) studio, announced its Unaudited Financial Results for 9M & Q3 FY24.
Comment on Financial Performance Bejoy Arputharaj, Director, Phantom Digital Effects Limited said, "We are elated by the exceptional performance witnessed in Q3 FY24, a testament to the dedication and talent of our team, alongside the trust and confidence bestowed upon us by our esteemed clients. Our growth trajectory owes itself to several key factors. The synergy of our in-house tools and software, coupled with the unwavering efficiency of our technical team, played a pivotal role in realizing our ambitious projects within remarkably short timelines. During the quarter, we achieved a significant milestone with the successful completion of QIP, a moment of pride for us. The trust shown by a select group of global funds inspires us to redouble our efforts. The funds raised through QIP will facilitate the expansion of our future endeavours, propelling the company to new heights. January marked a historic milestone for us with the resounding success of "Ayalaan," a groundbreaking sci-fi phenomenon. garnering widespread acclaim for its captivating narrative and unparalleled visual effects from critics and audiences. We are thrilled to welcome top-tier talent like James Abadi to our business development team, strengthening our presence and extending our operations into Europe. Furthermore, in the US, we are capitalizing on promising business opportunities and are currently in the process of acquiring multiple Oscar, Emmy and BAFTA award-winning studio to an extent of 3 Mn USD. This strategic move solidifies our position as a global leader in the VFX industry. With the culmination of these factors, we foresee a very positive conclusion to FY24 and anticipate the continuation of our growth trajectory beyond."
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