Read
Listen
Watch
Play
Find
Mail
  • Quotes

  • NAVs

  • News

  • Messages

  • Opinions

  • Notices

  • Videos

Internet biz to be hived off into separate cos: TV18

Published on Mon, May 29, 2006 at 15:43 , Updated at Mon, Jun 19, 2006 at 19:08
Source : Moneycontrol.com

Email    Print   

ads by google

TV18's Q4 consolidated net sales are at Rs 53.5 crore Vs Rs 38.85 crore (QoQ). The consolidated net profit is at Rs 21.9 crore Vs Rs 12.78 crore (QoQ, Pre ESOP Charge). The consolidated net profit for the same period is at Rs 18.48 crore Vs Rs 11.96 crore (QoQ, Post ESOP Charge).

 

The internet business has fetched Rs 6 crore in terms of revenues for FY06. The company's other venture, Awaaz, has achieved break even.

 

Going forward, the company has a capex plan of over Rs 300 crore. The company's CEO Haresh Chawla says that the company's restructuring and stock split will be completed in 6-8 months. Chawla further revealed that the company’s internet business would be hived off into two separate companies. 

 

Excerpts from CNBC-TV18’s exclusive interview with Haresh Chawla:

 

Q: Going forward how does the picture look like?

 

A:  These numbers are only for our CNBC-TV 18 channel and our Internet business. Awaaz and CNN- IBN channels are yet to be integrated into listed companies and that is going to go through a re- structuring right now.

 

We have seen extremely good performance from our four channels. Even Channel 7, which is set to be re-launched within the next 10 days, has shown an improvement in ratings. For the moment, we are going to consolidate the growth that we are seeing.

 

Another thing that we have announced is that we will hive off all our Internet operations into a fully own subsidiary and fund it separately and give it a very sharp focus. We will probably raise funds there as well to scale up that business. Today our focus is equally on Internet and TV.

 

Q: For this particular quarter how much did the Internet business pump in?

 

A: The Internet business has given us about Rs 6 crore. It is over six times since the last year. 

 

Q: When do you expect Awaaz to break even?

 

A: Awaaz has already broken even. Now it is growing into profitability. We expect that growth to continue.

 

Q: Tell us about your capex plans for the year?

 

A: We have internally chalked out very aggressive growth plan both for TV and Internet businesses. I cannot disclose the figures right now as to what are our investment plans. They are surely in excess of Rs 300 crore. 

 

Archive 1 | 2 |
Next page »

Messages on Business Talk

Post a comment

Other comments

Rel Cap to synergise insurance, MF, Money products

Reliance Capital, which has not been spared either in this financial crisis, has revamped its business and it had p...

in Business Talk - MMB Messenger at 17-Oct-08 01:16

High Risk, High Returns: Myth or Fact?

The stock markets are risky business. At least that’s the line most people who didn’t park their money in Dalal Str...

in Business Talk - panasonic at 16-Oct-08 07:37

More on Messageboard »

Rate this article

Feedback

CNBC TV18 CNN IBN CNBC Awaaz IBN 7 IBN LOKMAT

Chat

Prakash Gaba

Technical Analyst ,

(17 Oct- 15:30hrs)

How to be an effective trader?  

Upcoming Chat Schedule »

Previous Chat Transcripts »

Poll

Do you see the Sensex slipping below 10,000 in October?

Yes No

Newsletter

Keep in touch with News day & night. Subscribe to:

Mobile Services

Want us to track your stocks 24x7?

Subscribe to our Stock Messaging System

Get news on the move SMS to 52622

  • SMS M for Market News
  • SMS B for Latest Business News
  • SMS S (stock name) for latest news