ITV

Tag: Baisakhi Blast

  • ETC Networks to buy back equity shares in open market

    ETC Networks to buy back equity shares in open market

    MUMBAI: ETC Networks has decided to buy back the company’s equity shares up to 10 per cent of paid up capital from the open market at a maximum price of Rs 50 per share.

    “The company had cash resources and we thought this would be the best way to return value to the shareholders. This will only improve the earnings per share and provide higher earnings for the shareholders,” says ETC Networks director finance Vikas Gupta.

    With the buyback, Zee Telefilms’ holding in ETC Networks will go up from 51 per cent to around 56 per cent, Gupta adds.

    ETC’s board also met today to approve the audited results for the last quarter and year-ended 31 March 2005. The Board has recommended a dividend at Rs 1 per share (10 per cent) for the year ended 31st March 2005.

    Net profit dipped to Rs 8 million for the last quarter of the fiscal, from Rs 79.2 million a year ago. “Because of the merger with E-Connect we had a tax benefit last year. There was no such tax shelter this year,” explains Gupta.

    Total income, however, grew to Rs 120.1 million as against Rs 108.8 million. Profit before tax also rose to Rs 14.6 million, up from Rs 10.6 million during this period.

    Net profit for the financial year ended March 31 2005 decreased to Rs 72.2 million, as against Rs 157.8 million a year a year ago. Total income, though, increased to Rs 478.7 million, up from Rs 443 during this period. “There was a nominal decrease in the operating profit for the year due to our increased spend on programming and marketing expenses,” says Gupta.

    Along with many small events, the Company has recently conducted mega events like Baisakhi Blast´ and Punjabi Music Awards. “ETC Music has lined up seven musical events to enrich its Saturday programming. With these events, the Company has opened up new revenue streams which will have substantial impact on revenue and profits,” Gupta adds.

  • etc set to jazz up Baisakhi with ‘Baisakhi Blast’

    etc set to jazz up Baisakhi with ‘Baisakhi Blast’

    MUMBAI: etc has announced a special programme in Mumbai to celebrate the Baisakhi festival, synonymous with celebration, music and happiness.

    In a bid to connect with viewers in Mumbai, the channel will be organising Baisakhi Blast at Somaiya grounds in Mumbai on 9 April 2004. Singer Sukhvinder Singh and Malkit Singh from London will entertain the crowds with a musical bonanza. Besides the Singh duo, the channel has roped in popular Pakistani singer Javed Bashir for a debut performance on Indian grounds.

    Looking at the current Indo-Pak friendship theme, Bashir performing Punjabi songs live should be an exciting event. In addition, a team of more than 150 dancers and musicians has been roped in for a live performance.

    A channel release claims that all the performances will be with live orchestra as opposed to recorded music used by most of the other events.

    Anchored by film star Mink and top Punjabi comedian Bhagwant Mann, Baisakhi Blast will have comic interludes by Rana Ranbir and Bhagwant Mann. The televised event would be telecast simultaneously on three channels: etc Hindi, ETC Punjabi and Alpha Punjabi on 9 April 8:30 pm onwards, says the release.

    Besides the actual telecast of the show from 8.30 pm, all the channels will also air a curtain raiser from 6:30 pm onwards. The curtain raiser will comprise interviews with the artistes and behind the scene activities.

    Speaking about the event, ETC Networks ltd CEO Jagjit Singh Kohli says, “In the good old days Baisakhi Ka Mela used to be a regular event at Vallabh Patel Stadium in which the entire city used to participate. But over the years, this event faded away from Mumbai’s calendar. From this year onwards etc along with Alpha Punjabi is reviving the tradition of holding a mega musical and cultural event in which thousands of Mumbaikars would participate.”

    Says ETC channel Punjabi president Rabindra Narayan, “We are grateful to our viewers in Mumbai and elsewhere and to our sponsors, who have made it possible for us to bring the flavour of Punjab to this great city.”

    “It is an event for all the communities and we know that the audience would not only be limited to Punjabis. Just like Dandidya, which has become a cosmopolitan event, Baisakhi would also be celebrated by everybody because it is universal and it represents love and friendship,” he added.