MM TV elevates Prasad Sankaran as head-sales & marketing
MUMBAI: MM TV, the TV division of print media company The Malayala Manorama Company Ltd (TMMCL), has elevated Prasad Sankaran to the role of Head of Sales & Marketing at MMTV. He will be heading Sales & Marketing of Mazhavil Manorama, Mazhavil Manorama HD, Manorama News, and Mazhavil International.
Prior to his elevation, Sankaran was Regional Head-Sales, Mumbai. He has over 25 years of rich experience in the field of media and advertising. Before joining MMTV, he was with NDTV Ltd. as Region Head -West, Ad Sales for NDTV 24×7. He also has worked with other reputed organisations such as Star India, Sony Entertainment Television and Network18 in the past.
Talking about his new role, Sankaran said, “It is indeed an honour to be elevated and entrusted upon this responsibility for such prestigious brands. I look forward to an exceptional learning experience in this new and challenging role.”
MM TV COO P R Satheesh said, “I look forward to working together with Prasad in his new role. He brings depth and stability to this position with his rich experience across organizations and deep understanding of the products at MMTV. I wish him the very best in his new role.”
As reported by TelevisionPost.com, MM TV had posted a net profit of Rs 3.58 crore for the fiscal ended 31 March 2018 as against Rs 64 lakh in the previous fiscal.
The profit before interest lease depreciation and tax (PBILDT) had remained flat at Rs 37.06 crore compared to Rs 37.19 crore. Revenue increased to Rs 140.2 crore as against Rs 133.7 crore.
The total revenue from operations of the company had grown by 5% YoY after remaining stagnant in FY17. The PBILDT margin slightly declined to 26.43 in FY18 from 27.81 in FY17 on account of increased promotion expense and employee costs.
In FY19, the Kerala floods in the month of August had affected the company’s advertisement revenue. Till October 2018, the company’s revenue was Rs. 79 crore at a PBILDT margin of 16.45%.
MM TV’s long-term and short-term bank facilities worth Rs 69.9 crore was reaffirmed by Care ratings.