New Delhi, Delhi, India
Global Broadcast News Limited (GBN), broadcasters of India's leading 24-hour English language news and current affairs channel - CNN-IBN, today announced a maiden profit after tax, for the quarter ended March 31, 2007.
In what must be regarded as a landmark in the Indian Television Industry, GBN has recorded profit after tax of Rs 2.78 crores, within fifteen months of the launch of its channel CNN-IBN.
Sameer Manchanda, Joint Managing Director, GBN said: "The last quarter has seen GBN turn into black, and that too within fifteen months of launch of CNN-IBN.
The channel has established itself as the clear leader in the English News segment and is regarded as the favoured news channel by people who matter the most.
The media sector is on a growth path and we are proud to be a part of it. We sense attractive growth opportunities and our business plans would continue to reflect market trends and needs of our viewers."
BUSINESS HIGHLIGHTS
The three months ended March 2007 have seen Gross Revenues of Rs 29.06 crores, with a profit after tax of Rs 2.78 crores.
The increase in advertising support is reflected in the increase in the number of advertisers on CNN-IBN to 250, for the year ended 31st March 2007.
CNN-IBN continues to be the premier English News channel, with a market share of over 34 % amongst Indian English News Channels (Quarter average, CS 15-54 Males Sec ABC).
Initial Public Offering
Global Broadcast News Limited had a successful IPO in January - February 2007, with the issue being oversubscribed more 49 times. The shares were successfully listed at both the BSE and NSE on 8th February 2007.
Key Achievements
CNN-IBN was awarded the 'Best English News Channel' at the Hero Honda Indian Television Academy Awards 2006, Rajdeep Sardesai was voted the Best TV Host. We also received awards for Best Editing and the Best TV Documentary.
In the Wildscreen Panda Award 2006: 'Best Wildlife Story' award was won by CNN-IBN for the film 'Last Dance of the Sarus.
While in All India Promo Awards 2006: 'Best Promotion' Jury Prize award given to CNN IBN for the Citizen Journalist Promo.
IBNLive.com
Just over one year old, IBNLive.com has successfully established itself as India's premier news portal. The Citizen Journalist initiative, ensuring interactivity, remains at the core of CNN-IBN's journalistic values. The website is also at the cutting edge of technology with cross-platform offerings like podcasts, mobile alerts, live streaming and RSS and XML feeds.
IBNLive.com receives over 1.5 million average page views a day, and has a user base of over 4 million unique visitors a month.
Group
GBN is a part of the Television Eighteen Group (TV18), India's No.1 News & Information network, operating as a leading full play media entity across multiple platforms including television, internet, mobile and voice. The Group is the leading and most credible source of information for a diversified consumer base consisting of business and general audiences.
The Group owns and operates channels which include CNBC TV18, CNBC AWAAZ, CNN-IBN, and IBN 7, Internet portal sites including moneycontrol.com, ibnlive.com, easymf.com, indiaearnings.com, commoditiescontrol.com, tech2.com, compareindia.com, yatra.in, cricketnext.com, poweryourtrade.com, jobstreet.com. Other ventures of the Group include Newswire 18, Studio 18, HomeShopping Network, Big Tree entertainment.
To view the Unaudited financial results, please click on the link given below:
Unaudited Financial Results
Source: Global Broadcast News Limited (Business Wire India)
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