ETC Networks Ltd has reported a 93 per cent decline in its third quarter net profit at Rs 13.93 lakh compared to Rs 211.94 lakh in the year-ago period.
This is partly on account of a fall in total income to Rs 7.13 crore from Rs 15.17 crore reported in the previous corresponding period. The fall has been attributed to the discontinuation of its South Indian operations.
In the nine-month period, net profit declined to Rs 1.62 crore (Rs 4.30 crore) while total income stood at Rs 23.30 crore (Rs 32.66 crore).
During the quarter, ETC Hindi contributed Rs 5.09 crore to revenue and ETC Punjabi Rs 3.03 crore. However, profit from ETC Hindi was Rs 0.47 crore while ETC Punjabi contributed higher at Rs 1.53 crore.
Source: Business Line