| MUMBAI:
ETC Networks' broadcasting business has been hit by the economic downturn, with
the revenue shrinking by 21 per cent for the fiscal ended 31 March 2009.
Operating Hindi
music channel ETC and Punjabi music channel ETC Punjabi, the broadcasting segment
posted a revenue of Rs 415.27 million, as against Rs 525.81 million a year ago.
For the fourth-quarter
of the fiscal, revenue from broadcasting fell sharply by 48.68 per cent to Rs
67.19 million. The
company has employed less capital for the broadcasting business during the year,
bringing it down from Rs 420.09 million to Rs 396.65 million. ETC
Networks, which also runs an education business through a chain of pre-schools
in the name of Kidzee, posted a revenue of Rs 671.44 million for the full fiscal,
down by 13.72 per cent from Rs 778.17 million in FY’08. The
company's fourth-quarter revenue was at Rs 141.29 million, down from 199.57 million
in the year ago period. Net
profit for the entire fiscal dropped 59.93 per cent to Rs 93.63 million, as against
Rs 233.64 million a year ago. It plunged 85.52 per cent to stand at Rs 12.99 million
during fourth quarter, as against Rs 89.78 million in the corresponding quarter
of the previous year.
Expenditure, however, was kept under control and stood at Rs 590.85 million for
the year, as compared to Rs 648.25 million in FY'08. ETC
said that during the quarter, the company has made investments of Rs 280 million
in the form of optionally convertible debentures in the animation business. Also,
the company has spent a sum of Rs 16.82 million in advertisement and publicity
in the quarter. Shares
of ETC Network closed Friday 0.68 per cent up at Rs 88.55 on the BSE. | 
