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ZEE TV ANNOUNCES
H1 RESULTS; NICHE CHANNELS
Zee Telefilms Ltd (ZTL) has notched up
an impressive performance for the first six months ended
30 September 1999. Gross advertisement bookings are
up to Rs 2105.7 million as against Rs 1694.7 million
in the first six months of fiscal 1998. Total income
has increased to Rs 1286.9 million (Rs 1047.8 million)
with gross profit rising to Rs 498.2 million (Rs 378.2
million) and net profit to Rs 370.1 million (Rs 276.9
million).
ZTL's equity capital has doubled on 30
September when its international operations under Zee
Multimedia Worldwide were merged with it. The equity
capital on 30 September stood at Rs 388.4 million (Rs
186.6 million).
The stockmarket did not react positively
to the financial result announcement. The ZTL share
crashed to Rs 4,636 as the week ended from the Rs 5,000
range that it was oscillating in for much of last week.
It lost about 8% of its share price in trading on the
last day of the stock exchange settlement period. The
reason: a correction, discounting the lower earnings
per share that a higher equity capital has resulted
in.
Meanwhile, the management has said that
it is launching two new niche channels by next year.
The first called the Khajuroa channel is an adult channel
targeted at overseas audiences and will show case the
best of Indian sex traditions, namely, the Kama Sutra,
tantric sex etc. It is expected to develop into a paid
for service carried on cable or satellite TV systems
in the US, Europe and the rest of Asia. The channel
should develop a fan following as there is a lot of
curiosity and interest in Indian sex traditions and
texts such as the Kama Sutra in most countries worldwide.
The second service called the Organic
Channel will basically cover alternate healing and spiritual
therapies in India. While this television channel will
attract viewers worldwide, it should also manage to
get an audience in India as spirituality and alternating
healing therapies are on the upsurge in most middle
and upper class Indians.
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