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Radaan plans wholly owned subsidiary in Sri Lanka  
  
Indiantelevision.com Team 

(27 July 2011 8:15 pm)

 
   

MUMBAI: Chennai-based Radaan Mediaworks, which creates content in Tamil, Telugu, Kannada, Malayalam and Sinhalese, is exiting from its joint venture company in Sri Lanka to flaot an independent entity.

The leading Southern language content production company has decided to disinvest in the joint venture. The board has given its approval for the setting up of a wholly owned subsidiary in Sri Lanka after exiting from the JV.

Radaan had floated a joint venture company, Radaan Talent Factory, in Sri Lanka.

 
  

Radaan is also planning to set up a joint venture in Chennai in partnership with Anupam Kher's Actor Prepares to train budding actors.

Radaan Mediaworks is engaged in the business of producing television software, digital graphics and organising live events.

Radaan has posted a net profit of Rs 4.52 million for the three months ended June 2011, up from Rs 2.52 million a year ago.

 
 
 
Total income from operations during the quarter stood at Rs 105.64 million, up from Rs 69.35 million in the corresponding quarter of the previous fiscal. Expenses rose to Rs 99.83 million, from Rs 65.93 million a year ago.  
  
  
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