Television

ETC Networks net down 63 per cent

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ETC Networks Limited announced its Q-3 results for the year 2001-2002 with net profit going down by 63 per cent from Rs 3.8 million in Q2 to Rs 1.39 million.

Exceptional item* amounting to Rs 15.25 million has put pressure on the net profit of the Company. But at the same time company has made provision for tax only for Rs 0.11 million for the quarter stating that deferred taxation will be made at the year end.

The total Income has gone down by 16 per cent from Rs 84.6 million in Q2 to Rs 71.33 million in Q3. (The total income is going down since Q1, the reason stated for the same earlier is due to discontinuation of its South Indian Operations.)

staff costs had remained almost at the same level while sales and administration costs has gone down from Rs 25.70 million to Rs 14.8 million.

ETC Networks Limited, the media company listed at BSE owns the Hindi channel etc and regional channel etc Channel Punjabi. On the Bombay Stock Exchange, the share price of the company responded negatively. It went down by 7.5 per cent to Rs 27 from Rs 29.2 while BSE indicator went up marginally by 0.22 per cent to 3384.

(*The exceptional item represents debts aggregating to Rs.15.22 million pertaining to operations which have been discontinued during the previous financial year.)

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