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TV9 group revenues touch Rs 200 crore in FY 18

Press Trust of India  |  Hyderabad 

: Associated Broadcasting Company Pvt Ltd (ABCPL), which operates a host of new channels in different languages under logo, has recorded 21 per cent growth in revenue to a little over Rs 200 crore in FY 18.

The company made Rs 5.86 crore profit after tax during the year, according to

ABCPL was recently in the after its CEO and whole-time director was shown the door on allegations of forgery, among other charges.

Alanda Media and Entertainments had acquired over 90 per cent stake in ABCPL last year.

"This (growth in FDY 18) is primarily on account of and channels gaining popularity and ability of the channels to maintain its leadership position," Care said in a rating report.

Maintaining leadership position was possible with its effective marketing and selling strategies resulting in increased revenues, Care said.

assigned 'CARE BBB, Stable' to ABCPLs Rs 25-crore and Care A3 to short-term of Rs 15 crore in its recent report.

The rating assigned to the of ABCPL derives strength from strong and experienced management team, financial strength of promoters, leading position of its channels namely Telugu, TV9 Kannada and TV9 Gujarati, the rating agency said.

Early FY 19, Chintalapati Holdings, iLabs Venture Capital Fund and minority shareholders sold their stake to Alanda Media totalling 90.54 per cent as on date.

Alanda is promoted by group of individuals, who are related to the city-based 'My Home Group' the turnover of which is around Rs 4,000 crore, and Megha Engineering and (MEIL).

Both the groups have diversified business activities with huge net worth base.

ABCPL presently operates and hence depends upon the

ABCPL's flagship channels namely TV9 Telugu, TV9 Kannada and holds leadership position in their respective regions and have significant contribution to the revenue.

During March 2019, ABCPL launched its prime PAN India Hindi Channel free to air 'TV9 Bharatvarsh'.

ABCPL faced high geographical concentration risk with majority of the revenue around 80 per cent accounted from channels based in and

However, the achieved positive Y-o-Y overall growth of 20.67 per cent in FY 18.

Further, with the introduction of TV9 Bharatvarsh, ABCPL is envisaged to lower the geographical concentration risk to a greater extent, the rating agency added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 13 2019. 15:51 IST
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