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etc net profit down 71 per cent

03-November-2001
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etc net profit down 71 per cent

etc Networks Limited announced its Q-2 results for the year 2001-2002 with its net taking a 71 per cent dip to Rs 3.8 million from Rs 13.33 million in the corresponding quarter in FY 2000. The net revenue went down by 13 per cent from Rs 97.08 million to Rs 84.28 million. According to the company, the downturn in revenues is due to the encryption of the channel, which has effected its reach.

The staff costs had gown down from 10.57 million to 7.03 million due to the successful restructuring operations the company. The 25 per cent increase in the sales and administration costs from Rs 20.4 million to Rs 25.70 million was due to operational expenses of etc channel Punjabi which was not there last year. And the increase in the depreciation amount is due to the buying of additional machinery and equipment.

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