Television
×

ETC Networks to buy back equity shares in open market

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/04/06/ETC%20Networks.jpg?itok=EmAVrZ1O

MUMBAI: ETC Networks has decided to buy back the company's equity shares up to 10 per cent of paid up capital from the open market at a maximum price of Rs 50 per share.

"The company had cash resources and we thought this would be the best way to return value to the shareholders. This will only improve the earnings per share and provide higher earnings for the shareholders," says ETC Networks director finance Vikas Gupta.

With the buyback, Zee Telefilms' holding in ETC Networks will go up from 51 per cent to around 56 per cent, Gupta adds.

ETC's board also met today to approve the audited results for the last quarter and year-ended 31 March 2005. The Board has recommended a dividend at Rs 1 per share (10 per cent) for the year ended 31st March 2005.

Net profit dipped to Rs 8 million for the last quarter of the fiscal, from Rs 79.2 million a year ago. "Because of the merger with E-Connect we had a tax benefit last year. There was no such tax shelter this year," explains Gupta.

Total income, however, grew to Rs 120.1 million as against Rs 108.8 million. Profit before tax also rose to Rs 14.6 million, up from Rs 10.6 million during this period.

Net profit for the financial year ended March 31 2005 decreased to Rs 72.2 million, as against Rs 157.8 million a year a year ago. Total income, though, increased to Rs 478.7 million, up from Rs 443 during this period. "There was a nominal decrease in the operating profit for the year due to our increased spend on programming and marketing expenses," says Gupta.

Along with many small events, the Company has recently conducted mega events like Baisakhi Blast´ and Punjabi Music Awards. "ETC Music has lined up seven musical events to enrich its Saturday programming. With these events, the Company has opened up new revenue streams which will have substantial impact on revenue and profits," Gupta adds.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/foodfood.jpg?itok=gCF4k0Ki
FOODFOOD announces veeba cook off powered by Daawat Basmati Rice and Tata Sampann

Cooking doesn’t get tougher than this! FOODFOOD Pro an initiative of FOODFOOD, India's premier 24x7 Food and Lifestyle channel is proud to announce an intense and exciting eleven - episode series, VEEBA COOK-OFF, a challenge, that is purely ‘By the Professionals and For the Professionals'. This...

Television TV Channels Factual & Documentary
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/sony-max.jpg?itok=Rmc_jk74
Celebrate Republic Day with megastar league on Sony Max 2

MUMBAI: On Republic Day get ready for an all day long movie marathon with India’s iconic Hindi movie channel from Sony Pictures Networks, SONY MAX 2. Binge-watch the movies of some of Bollywood’s megastars throughout the day on 26th January with SONY MAX 2’s Megastar League. 

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/star-gold.jpg?itok=aEnqdAVj
2017 blockbuster hit 'Golmaal Again' will make its television premiere on star gold this friday

Star Gold is kicking off the year with the World Television Premiere of one of the most succesful films of 2017, Golmaal Again, that raked in over 200 crores at the box office and set it on fire with its unmatched gags and action. The film that left audiences in splits of laughter and many ‘...

Television TV Channels Movie Channels
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/myleeta.jpg?itok=Jp2DoL6W
BBC Worldwide India announces partnership with Applause Entertainment

BBC Worldwide India has announced a partnership with Aditya Birla Group’s Applause Entertainment that will see the two organisations working together to develop and produce Indian versions of iconic BBC formats.

Television Production House Non-Fiction
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/us.jpg?itok=F5fKKb42
Bring in Republic Day with the award-winning political comedy VEEP on Star World

Our 68th Republic Day is just around the corner and considering the political scenario in our country and globally, Star World has lined-up a marathon of a show that is not only entertaining but also takes a satirical view into what goes on behind-the-scenes in government policy-making and...

Television TV Channels English Entertainment
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/icai_0.jpg?itok=Zpp1ilCw
ZEEL president - Legal & Regulatory Affairs, Mr. Avnindra Mohan conferred prestigious "CA Distinguished Achiever - 2017" Award by ICAI

Mr. Avnindra Mohan, President – Legal & Regulatory Affairs, Zee Entertainment Enterprises Ltd has been selected as the winner of the prestigious award in the category “CA Distinguished Achiever-2017” for exceptional performances and achievements by the Institute of Chartered Accountants of...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/karan.jpg?itok=mCWRXjXX
Discovery India ties-up with Reliance Animation to produce kids IP

Discovery Communications India has commissioned Reliance Animation to produce a new disruptive Indian original content series Little Singham, an animation series inspired by the movie Singham. Targeted at kids in the age-group 4-8 years old, Little Singham will make its debut on television in...

Television TV Channels Kids
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/23/Shubhranshu_singh.jpg?itok=OUkY580T
Star Sports EVP and marketing head Shubhranshu singh quits

MUMBAI: Star Sports Executive Vice President and Head Marketing Shubhranshu Singh has quit the company after a four-year stint.

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/01/22/bajaj.jpg?itok=z_mfKL62
Discovery bags nine sponsors for Battle Ops

Battle Ops, Discovery Communications India’s (DCIN) integrated television and digital offering, has received a resounding response from the advertiser community. The show, which will premiere on Discovery Channel and Veer on 26th January, has already sold out with nine sponsors on board.

Television TV Channels Specialised and Niche

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories