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Cinevista post net loss, SAB net down by 40 per cent

29-June-2001
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Cinevista post net loss, SAB net down by 40 per cent

Cinevista Communications has posted a net loss of Rs 11.99 crores on sales of Rs 39.67 crores for the year-ended March, 2001, whereas, SAB net profit went down by 40.51 per cent in the financial year ended March 31, 2001. The company posted a net profit of Rs 103.73 million, as against Rs 174.36 million for the previous year.

Cinevista Communications’ cost of production and telecast stood at Rs 39.41 crores, administrative expenses at Rs 14.96 crores, depreciation at Rs 0.83 crore and interest at Rs 0.37 crore.

The company attributes the poor result to the rapidly eroding viewership of Doordarshan, and demand for air-time amongst advertisers, which resulted in unsold air-time of over Rs 18,000 seconds on various programmes telecast by it.

Sri Adhikari Brothers Television Network’s net profit is down by 40.51 per cent in the financial year ended March 31, 2001. The company posted a net profit of Rs 103.73 million, as against Rs 174.36 million for the previous year. Income from operations stood at Rs 927.94 million, as against Rs 400.13 million during the same period.

Other income is at Rs 48.79 million, compared to the previous year’s Rs 40.25 million. The board of directors on Thursday recommended a dividend of Rs 1.10 per share.

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