UTV Software Communications has registered 176 per cent jump in its net profit at Rs 25.08 crore for the first quarter ended June 30, 2008, compared with Rs 9.09 crore for the corresponding period last fiscal.

Total revenue of the company during the quarter rose by 154.21 per cent to Rs 145.18 crore from Rs 57.11 crore recorded during the first quarter of 2007.

In a separate release, the company has announced that it will invest $75 million in its gaming division.

Further the company explains that it will use US$8 million to raise company’s stake in gaming company Ignition Entertainment Limited (“Ignition”) from 70% to 95%, While US$37 million will be used to develop three high end console games and as working capital of Ignition for its facilities in London, Florida and Tokyo.

The remaining $30 million will be used to invest in acquiring majority stake in an overseas online gaming company and in a mobile games aggregate in the US.

The company has recently approved the acquisition of United New Media Ventures Ltd, a web and mobile content maker and distributor, through its wholly owned subsidiary named UTV New Media Limited.