Raj TV Network operating profit rises 118%

Raj Television Network Limited (BSE: 532826; NSE: RAJTV), a regional broadcaster and media company, has posted Revenues (unaudited) of Rs. 386.42 million (up 22.64%), an Operating Profit of Rs.183.19 million (up 118%) and a Profit after Tax of Rs. 107.17 million for the financial year ended March 31, 2007. At a meeting held today, the Board of Directors of the Chennai-based Raj Television Network Ltd. (“the Company”) approved and adopted their Unaudited Financial Results for the year ended March 31, 2007, while earmarking Rs. 892,055 as interim dividend.

For the year ended March 31, 2007, the Company posted Revenues of Rs. 386.42 million, an increase of 22.64% as compared to Revenues of Rs. 315.08 million for the previous fiscal. It also reported an Operating Profit of Rs. 183.19 million for the year ended March 31, 2007 as compared to an Operating Profit of Rs. 84.09 million posted in the previous fiscal. The Company posted a Profit After Tax of Rs. 107.17 million for fiscal 2007. The Basic and Diluted Earning Per Share (EPS) for the year ended March 31, 2007, works out to Rs. 9.74. The issued, subscribed and paid-up share capital is Rs. 129.78 million.

Mr. M. Raajhendhran, Chairman and Managing Director, Raj Television Network Ltd., said, “The experienced management team of the Company has enhanced its performance by leveraging its strategic advantages such as its wide viewership, multi-content programming, regional prominence and cultural programming. The Company plans to strengthen production facilities by constructing new studio premises in Chennai. We plan to launch a new youth-centric television channel and broadcast existing channels and content in the international markets. We also intend to acquire and create content by producing short-films and telefilms for the domestic and international markets.”

Raj TV Network was launched in 1994 by its Chairman and Managing Director Mr. M. Raajhendhran along with his brothers. Raj TV was one of the first broadcasters to convert analog transmission into digital. The network’s strength has been its large content base addressing every member of the family thereby making it a true “People’s Channel”. It currently operates two channels — Raj TV and Raj Digital plus, which are 24-hour Tamil channels. In March 2007, it signed an agreement with the Singapore Government owned TV 12 for exporting content to TV12’s Vasantham Central, a popular Channel airing programmes for the Indian community in Singapore. Earlier this year, the Company tapped the Indian capital markets with an initial public offering (“IPO”) of 35,68,250 equity shares of face value of Rs. 10, for cash, at an Issue Price of Rs. 257, which was decided after a 100% book-building process.