Odia media co Eastern Media posts net profit of Rs 4.7 cr in FY18
MUMBAI: Odisha based media firm Eastern Media Ltd (EML) has posted a net profit of Rs 4.7 crore in FY18 which is a 68% increase from Rs 2.8 crore the company earned in FY17. The information is based on the data sourced by Care Ratings from the ministry of corporate affairs (MCA) for FY18.
The profit before interest lease depreciation and tax (PBILDT) has increased 26% to Rs 17.5 crore compared to Rs 13.9 crore in the previous fiscal. Total operating income has jumped 14% to Rs 177.9 crore as against Rs 156 crore.
The total operating income of EML has increased from Rs. 123.73 crore in FY15 to Rs. 156.04 crore in FY17. The PBILDT margin of EML stayed at similar levels of 9.97% in FY15 and FY16 and declined to 8.93% in FY17 in view of initial losses from the digital media venture.
EML is a public limited company established in the year 1984 by Soumya Ranjan Patnaik.
The company has five divisions namely print (Sambad), FM radio channel (Radio Choklate 104), television channel (Kanak News), entertainment division (comprising of audio, video, Opera) and a digital cable network in the brand name of Eastern Media Digital.
Sambad, the vernacular daily of EML is the leading newspaper in Odisha, with over 40% of market share amongst Oriya newspapers. EML has four printing centres through which it publishes eight editions for the key cities of Odisha namely, Bhubaneshwar, Anugul, Cuttack, Berhampur, Rourkela, Sambalpur, Balasore and Jajpur.
In 2007-08, EML ventured into the entertainment business by launching an FM radio channel called Radio Choklate 104. In the year 2009-10 the company started a 24×7 Oriya news channel, Kanak News.
EML has diversified revenue source with presence in print media, television media, and radio channel. The company, under its entertainment division, has ventured into movie making under the brand name, Manjari movies. Further, the company also provides digital cable network services in 17 cities of Odisha.