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Tag: V Devarajan

  • Balaji’s V Devarajan joins Adlabs Films as CFO

    Balaji’s V Devarajan joins Adlabs Films as CFO

    MUMBAI: Anil Ambani is busy poaching executives from rival media organisations. The latest to join Adlabs Films Ltd is Balaji Telefilms chief financial officer V Devarajan.

    “We are taking in Devarajan as our CFO. He willl be joining us soon,” says a senior executive in Adlabs Films.

    Devarajan joined Balaji Telefilms as CFO in 2002 and was responsible for putting in place processes that resulted in operational cost efficiencies.

    Devarajan’s resignation as Balaji CFO was effective 9 May and India’s leading soap factory moved swiftly to put in a replacement. Sandeep Jain takes over from the departing Devarajan as the new Balaji CFO with immediate effect.

    Adlabs is in a major expansion spree and is ramping up its film exhibition and production businesses. The company recently bought out the entire stake of Mukta Arts in a joint venture company for digital distribution of movies.

    Adlabs Films’ board recently approved the proposal for demerger of its FM radio business to a wholly owned subsidiary, Adlabs Radio Pvt Ltd. Adlabs plans to list the new entity on the stock exchange.

  • Balaji Telefilms Q4 net at Rs 155 million

    Balaji Telefilms Q4 net at Rs 155 million

    MUMBAI: Balaji Telefilms has posted a net profit of Rs 155.03 million for the quarter ended 31 March 2006 as compared to Rs 96.47 million a year ago.

    The total income has increased to Rs 781.40 million, up from Rs 568.44 million during this period.

    For the entire fiscal, the company has posted a net profit of Rs 596.428 million as against Rs 412.962 million for the year ended 31 March 2005.

    Total income for the year was Rs 2.9 billion, up from Rs 2.01 billion a year ago.

    The board of directors has recommended a full and final dividend of Rs 3 per share (150 per cent on par value of Rs 2 per share), subject to the approval of members at the ensuing annual general meeting.

    Balaji Telefilms chief financial officer V Devarajan has put in his papers, the company said. Sandeep Jain will take over as the CFO of the company.