Mythos help Creative Eye do better in Q3

Divinity, unlike human frailty is more consistent at producing tangible results, at least for television production houses.

Ask Creative Eye. The production house that has an assembly line of mythologicals in its stable, has posted an 83 per cent increase in its net sales for the quarter just ended over the previous quarter. While the company's income from operations does not compare favourably with figures of the same period last year (Q3 2001 stands at Rs 61.1 million as against Q3 2000 net sales of Rs 157.9 million), the revenues are better than those in Q2 2001 which stood at Rs 33 million. The company claims that net profit after tax is up by 156 per cent over the previous quarter; the figure of Rs 9.2 million is however, much lower than Rs 14.5 million reported for the same quarter last year.

The better performance of the quarter can probably be attributed to the production house's lessening dependence on Doordarshan and its perceptible shift to the satellite channels. The company, that came out with an IPO in late 2000, posted net sales of Rs 33.4 million in the second quarter of 2000.

After its second quarter results, company officials had said that Creative Eye would spend Rs 30 million to upgrade and add to the additional facilities of its existing studios. Plans are in the pipeline to invest Rs 20 million to set up another studio. 

The cost of software has gone up from Rs 28.4 million to Rs 38.2 million over the previous quarter, but the figures are nowhere close to the Rs 135.1 million incurred on software in Q3 2000.

The company currently has Shree Ganesh on Sony, Jap Tap Vratt on Star, Om Namo Naaraayan on Sahara, Jai Santoshi Ma on Zee, Om Namah Shivay (Tamil) on Star Vijay and Jaane Anjaane on DD1. It has also been commissioned to make Nav Graha Shakkti for the still-to-be-launched Mak TV and Kya Beti Paraya Dhan Hai for ETV Hindi.

The company has announced that it has already utilised Rs 110 million of the Rs 252.2 million raised during the IPO and has invested the balance in fixed deposits with nationalised banks. 

Latest Reads
Naagin helps Colors capture top position this week: BARC

Backed by Naagin Season 2, Colors was almost close to Star Plus to get the number one position, but, this week, Colors went few steps ahead and grabbed the leadership position and replaced Star Plus in week 42. Even in Urban GECs market, Colors toppled Star and took over the number one position.

Television TV Channels Viewership
SPN India to broadcast Barclays ATP World Tour finals

Sony Pictures Networks India (SPN) will exclusively broadcast the upcoming ATP events in the month of November. The ATP 1000 Paris Masters will be aired live on Sony ESPN channels and will be streamed live on SonyLIV app and website. The ATP 1000 Paris Masters in Paris will begin on 31 October.

Television TV Channels Sports
Hunt for Zee Business head continues

MUMBAI: Zee Business, an arm of Zee Media Corporation, has seen several transitions in its management this year. The channel was initially headed by Amish Devgan, who decided to move away after serving for 14 years. It was then led by Zee Media Corporation’s then CEO for content Samir Ahluwalia,who...

Television TV Channels People
'King' content will take over monopolistic media entities, says Arnab Goswami

NEW DELHI: The future of news lies in breaking away from the interdependence of politicians and the media on each other.

Television TV Channels News Broadcasting
Animated 'Ramayana' a global Diwali gift on web, mobile

NEW DELHI: Thirty episodes of the animated series Ramayana will be available around the world on the nexGTv web and mobile platforms during Diwali.

Television TV Shows Animation
Sports Minister lauds b'casters, other stakeholders in promoting sports

NEW DELHI: India’s Sports Minister Vijay Goel said on Wednesday that digital media broadcasting will play a critical role in bringing about change in sports broadcasting in India but broadcasters must also focus on how sports as a product is delivered to audiences in rural areas so as to popularise...

Television TV Channels Sports
Know your karma on IBN7 with 'Karm Path'

In an attempt to give its viewers a refreshing start of the day, IBN7 is launching a new show titled Karm Path. Starting 27 October, the show will predict what the day holds. The show is a differentiator in its own genre as it connotes the supremacy of deeds over destiny.

Television TV Channels News Broadcasting
Big Ganga available on Tata Sky now

Big Ganga has strengthened its distribution with DTH service provider Tata Sky.

Television TV Channels Regional
TV is story-teller's new novel; audience is Bharat, not India: Star's Banerjee

MUMBAI: Since five to six years, television has become the talking point. Th series such as 'Breaking Bad' to Transparent to Narcos to 'Game of Thrones' to 24, and now POW (Prisoners of Wars) has changed the experience of television viewing.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories