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Top Telemedia eyes 3-fold jump in profit

Our Bureau

MUMBAI, April 19

TOP Telemedia Ltd is expecting a three-fold increase in net profit at Rs 21.5 crore for the year 2002-2003 fiscal, mainly on account of a substantial expansion of its business portfolio.

The company had ended the 2001-2002 fiscal with a net profit of Rs 7.3 crore on a turnover of Rs 27.18 crore.

The company, which is into books, CD-Roms, CDs, VCDs, TV software, audio cassettes, Web portal, Web designing and animation, is expecting a significant increase in profit from TV software.

For the year ended March 31, 2003, Top Telemedia expects profits from TV software to be in the range of Rs 7.5 crore.

The company has been working on universal themes for its television software and is in the process of marketing these for the international market.

"We are looking at broadcasters in Indonesia, the US and Hong Kong. Because of the universality of our themes, we will be able to convert our programmes to any of the foreign languages such as French, German, Chinese, Arabic and Japanese,'' Mr Sanjay Jhalani, Director of the company, said.

The company had undertaken exports of its TV software worth Rs 12 crore in the fiscal.

Currently, the company is producing 50 episodes a month and plans to augment this to 100 episodes.

The company, which had entered the capital market with an initial public offering in January 1996, is also expecting an increase in its profits from banner marketing on its portal, www.toptelemedia.com.

Profits from banner marketing are expected to be Rs 3.6 crore in the current fiscal. In the last four years, the company has invested Rs 20 crore to set up content for its portal.

The company, which has digital audio recording studios, is slated to start two studios at Mumbai. This studio is being set up at a cost of Rs 7-8 crore.

The company ruled out dilution of promoters' stake or private placement at this juncture. Currently, the promoter, Mr Deep Trivedi, holds 50 per cent stake of the Rs 35 crore paid-up share capital.

"There is tremendous growth opportunity in our business. Having made the investments, we now expect to earn revenues,'' Mr Jhalani said.

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