ETC Networks has announced red ink-stained financial results for the year ended 31 March 2002, even as Zee Telefilms readies to get into the driver's seat, after its official acquisition of the network last month.

ETC's turnover is down to Rs 313.3 million (Rs 538.2 million in the year to March 2001) even as expenses on exceptional items of Rs 136.12 million have dragged its net profit into negative terrain (Rs 141.06 million as against a profit of Rs 24.36 million last year). The exceptional items represent a write off on account of advances for copyrights and new projects.

The company has managed to halve its programming and telecast expenses to Rs 125.871 million (Rs 288.08 million) in the year. Its profit before before interest, depreciation /amortization & exceptional items is higher at Rs 55.64 million (Rs 49.62 million), but an interest component of Rs 12.44 million (Rs 6.02 million), depreciation of Rs 32.11 million (Rs 17.02 million) and exceptional expenses have led to the losses of Rs 136.12 million. To top it all, its reserves have dropped to Rs 273.81 million (Rs 299.24 million). 

Zee Telefilms has in recent times acquired the promoters interest in ETC Networks from the present promoters and ETC has allotted 22,20,812 equity shares at price of Rs 31.52 to the media major. Consequently, Zee will be holding more then 51 per cent of the expanded capital of the company. 

In a press release issued yesterday, ETC Networks has claimed leadership in the music and Punjabi segments. Besides being the market leader in 4+ all India figures etc is also leading amongst the 18-30 age group of All Adults of SEC A, for the period starting 12 May 2002, etc has a TVR of 0.28 whereas Channel [V] is 0.07, MTV is 0.05, CMM is 0.03, B4U is 0.04, Sahara is 0.20, SAB 0.19 and Star Gold has 0.14. (Source TAM)

Again for 18 to 30 age group of All Adults of SEC A (period starting May 12, 2002) amongst the music channels, etc claims a channel share of 59 per cent as against Channel [V]'s 14 per cent, MTV's 11 per cent, while B4U and CMM both share 8 per cent each. 

etcs Channel Punjabi, leader in Punjabi regional channels, has maintained its top position since its inception two years back, the channel claims. Quoting TAM and INTAM in all the C&S homes and amongst the viewers aged 4+ (period starting 12 May), etc Channel Punjabi channel share is 58 per cent, Alpha Punjabi is 21 per cent, Lashkara 9 per cent, DD Punjabi 12 per cent, with Tara bringing up the rear with virtually 0 per cent, an official release say.