Wednesday, October 21, 2009

Raj TV's loss continues..

Raj TV Network has posted a second-quarter net loss of Rs 26.48 million, as against a net profit of Rs 3 million a year ago. Total income from operations fell 18.51 per cent to Rs 99.9 million during the quarter under review, compared to Rs 122.59 million in the prior year period. Raj TV earned Rs 95.40 million from broadcasting while the balance came from the film operations. Expenditure during the quarter increased to Rs 122.90 million, from Rs 113.39 million in the corresponding quarter of the previous fiscal. In the broadcasting segment alone, the company suffered an operating loss of Rs 27.50 million, as compared to an operating profit of Rs 6.24 million in the prior year period.

Raj TV also disclosed that against the total projected utilisation of Rs 528.1 million from the initial public offering (IPO) funds, an amount of Rs 386.7 million has been utilised towards acquisition of content, strengthening facilities, purchase of new equipment, up gradation of existing equipment, production of movies, construction of studio and general corporate purpose.

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