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MUMBAI:
Raj TV Network has posted a net profit of Rs 3 million for
the quarter ended 30 September 2008, a slide from Rs 44 million
in the corresponding quarter of the prior year.
Net
sales from operations has seen a slowdown to Rs 122.59 million
during the quarter under review, compared to Rs 137.6 million
a year ago.
Raj
TV has earned Rs 119.63 million from broadcasting operations.
Expenditure
during the quarter has increased to Rs 113.39 million, from
Rs 70.09 million in the corresponding quarter last fiscal.
Raj
Television Network has said that against the total projected
utilisation of Rs 528.1 million from the initial public offering
(IPO) funds, an amount of Rs 350.9 million has been utilised
towards acquisition of content, strengthening facilities,
purchase of new equipment, upgradation of existing equipment,
production of movies, construction of studio and general corporate
purpose.
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