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Raj TV turns black in Q4 on back of lower costs

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Raj TV Network has swung into profit for the fourth quarter as it lowered costs amid a drop in income.

The regional broadcaster, operating five television channels, has posted a net profit of Rs 12.03 million for the quarter ended 31 March 2011 compared to a net loss of Rs 47.82 million in the year-ago period.

The income during the three-month period skid by 6.27 per cent to Rs 139.11 million, from Rs 148.41 million. However, the company kept a tight control over the operational costs and other expenditure.

Expenses came down 37.30 per cent to Rs 122.35 million from Rs 195.14 million in the corresponding quarter of the previous fiscal.

Meanwhile, for the full-fiscal period, Raj TV has posted a net loss of Rs 95.65 million, lower than a net loss of Rs 157.76 million in the earlier year.
Income fell marginally to Rs 453.6 million, from Rs 461.77 million, whereas expenses were curtailed at Rs 540.10 million (from Rs 611.63 million).

The company disclosed that it has fully utilised the IPO proceeds of Rs 528.1 million as of 31 March 2011. The expenses were towards acquisition of content, strengthening facilities, purchase of new equipment, upgradation of existing equipment, production of movies, construction of studio and general corporate purposes.

http://www.indiantelevision.com/headlines/y2k11/apr/apr83.php