wordpress blog stats
Connect with us

Hi, what are you looking for?

Q309: IPTV Company IOL Netcom To Issue Rs. 7.5 Crore FCDs To HT Media; Reports Rs. 10.1 Million Profit

IOL Netcom

IPTV company IOL Netcom, which also has a franchise agreement with MTNL for CDMA services, has reported a net profit for the second quarter running – of Rs. 10.1 million, as compared to a loss of Rs. 144.84 million for the corresponding quarter last year. For the quarter ending December 31st 2009, the company has reported net sales of Rs. 128.5 Million, up from Rs. 36.08 million for the same quarter last fiscal.

Interestingly, the IOL Netcom board has decided to issue fully convertible debentures to HT Media, amounting to Rs. 75 million. Is this an ads for equity deal? On Jan 6th, the day following this announcement, IOL Netcom alotted 7,500,000 Equity Share warrants to the following companies – Avni Corporate Services Pvt Ltd (10,00,000), Anahita Trading Company Pvt Ltd (12,00,000), Trivikrama Solutions Pvt Ltd (12,00,000), Celso Engineers Pvt Ltd (10,00,000), Astra pro-foods Pvt Ltd (12,00,000) Fiona Metals Pvt Ltd (10,00,000), Gemma Art Jewellery Pvt Ltd (9,00,000). Last week, HT Media had announced that in Q3, they invested around Rs. 170 crores using the “Partnership for Growth” model.

Remember that the Times of India Group owns 500,000 shares of IOL Netcom by virtue of a private treaties deal, while Videocon owns 14% of the company – 12.26% through Shree Dhoot Trading & Agencies Ltd. and 1.83% through Videocon Realty and Infrastructure Ltd. Lehman Brothers has also invested in IOL Netcom.

We’ve requested Hemang Dave, CFO of IOL Netcom for a clarification on the ads for equity deal, and also inputs on how this company managed to finally turn a profit after reporting losses for many a quarter. We’ve also requested the company for inputs on the status of the IPTV rollout, among other details.

IOL Netcom
Q309: Financials
Q209: Financials, Report
Q109: FinancialsAnnexureReport

You May Also Like

News

Media company HT Media Limited posted a consolidated operational revenue of ₹341 crore, which is down 40% YoY and up 31% over the previous...

News

HT Media’s digital revenue stood at ₹21.28 crore for the quarter ended September 30, 2020, reflecting a 2.4% YoY increase and a 6.9% QoQ...

News

HT Media has acquired Mosaic Media Ventures, the company which operates business news platform VCCircle and tech news platform TechCircle, according to a regulatory...

News

The RP-Sanjiv Goenka group has picked up a 51% stake in the curated video news platform Editorji, the platform’s founder Vikram Chandra announced on...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ