Global Broadcast News Ltd (GBN) reports maiden profit

Global Broadcast News Ltd (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 15 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 15 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 part of it. We sense attractive growth opportunities and our business plans would continue to reflect market trends and needs of our viewers.

The 3 months ended March 2007 have seen Gross revenues of Rs.29.06 crores, with a profit after tax of Rs.2.78 crores.



The stock closed on Monday at Rs.617.85, up by Rs.41.20 or 7.14%. The total traded quantity was 1027756 at an average price of Rs.600.96 resulting in a turnover of Rs.6176.4 Lakhs. The stock hit an intraday high of Rs.626.80 and low of Rs.570.65.

Source : Equity Bulls

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