Television

ETC net profit up 2 %

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MUMBAI: Music channel Etc registered an increase in profits in the financial year 2003-2004. According to a press release, Etc made a profit after tax of Rs 144.2 million compared to its previous year's Rs 141.3 million, a 2 per cent rise.

Gross revenue was up 7 per cent from Rs 484.3 million in the last fiscal to Rs 451 million this year. Earnings before interest, tax and depreciation (EBITDA) was up 2 per cent from Rs 210.7 million to Rs 206.4 million.

Etc gives credit to the company's sound financial engineering policies and an increase in total revenue for making this progress, irrespective of the fact that the industry was reeling under pressure from the film distributors' strike. The company's efforts to improve upon its channel content by having optimum mix of trailers and music and film based programmes are now bearing fruits, a company release says. These have already resulted in an increase in advertising revenues on both the channels - ETC Music and ETC Channel Punjabi, according to the release.

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