Raj TV's revenue rises by 22.64 pc to Rs 38.64 crore

Mumbai, Apr 11 (UNI) Chennai-based media company Raj Television Network Limited today declared that it has posted an unaudited revenue of Rs 38.64 crore for the last financial year ended March 31, a rise of 22.64 per cent from the previous fiscal.

The company has earmarked Rs 8,92,055 as interim dividend. The company's Operating Profit was Rs 183.19 million, a rise of 118 per cent and a Profit after Tax (PAT) of Rs 107.17 million for the corresponding period.

The board of directors of the company, listed on the premier Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), has approved and adopted the unaudited financial results at a meeting held yesterday, a company release said here today.

The basic and diluted earning per share (EPS) for the corresponding period has worked out to Rs 9.74, while the paid-up share capital is Rs 129.78 million, the statement said.

Raj Television chairman and managing director M Raajhendhran said ''The management team of the company has enhanced its performance by leveraging its strategic advantages like its wide viewership, multi-content programming, regional prominence and cultural programming. We plan to strengthen production facilities by constructing new studio premises in Chennai. We want 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.'' Raj TV Network currently operates two channels 'Raj TV' and 'Raj Digital Plus', both 24-hour Tamil channels. Last month, it signed an agreement with the Singapore Government-owned TV12 for exporting content to TV12's Vasantham Central, a popular channel airing programmes for the Indian community in Singapore.

Early this year, the company had tapped the Indian capital markets with an initial public offering (IPO) of 35,68,250 equity shares with the face value of Rs 10, for cash, at an Issue Price of Rs 257, decided after a 100 per cent book-building process.

Raj TV provides programmes ranging from films to spiritual tourism programmes, apart from discourses by spiritual gurus. It holds broadcast rights for spiritual programmes of more than 1,000 hours of content with a potential to add aggregate 100 hours of content every year, the statement added.

UNI