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Raj TV’s operating profit rises by 118 per cent; revenues for fiscal 2007 rise to Rs 386.42 million

Raj TV’s operating profit rises by 118 per cent; revenues for fiscal 2007 rise to Rs 386.42 million

Author | exchange4media Chennai Bureau | Friday, Apr 13,2007 9:26 AM

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Raj TV’s operating profit rises by 118 per cent; revenues for fiscal 2007 rise to Rs 386.42 million

Raj Television Network Limited has posted unaudited revenues of Rs 386.42 million (up by 22.64 per cent), an operating profit of Rs 183.19 million (up by 118 per cent) and a profit after tax of Rs 107.17 million for the financial year ended March 31, 2007. At a meeting held recently, the Board of Directors of the Chennai-based Raj Television approved and adopted their unaudited financial results while earmarking Rs 8,92,055 as interim dividend.

According to a press release, the revenues have seen an increase of 22.64 per cent as compared to that of Rs. 315.08 million for the previous fiscal. The operating profit posted in the previous fiscal was Rs 84.09 million. The basic and diluted earning per share works out to Rs 9.74. The issued, subscribed and paid-up share capital is Rs 129.78 million.

M Raajhendhran, Chairman and Managing Director, Raj Television Network Ltd, said, “The experienced management team of the company has enhanced its performance by leveraging its strategic advantages, such as its wide viewership, multi-content programming, regional prominence and cultural programming. The company plans to strengthen production facilities by constructing new studio premises in Chennai. We plan to launch a new youth-centric television channel, and broadcast existing channels and content in the international markets. We also intend to acquire and create content by producing short-films and telefilms for the domestic and international markets.”

Earlier this year, the company tapped the Indian capital markets with an initial public offering of 35,68,250 equity shares of face value of Rs 10 for cash, at an issue price of Rs 257, which was decided after a 100 per cent book-building process.

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