(a) Asian IT Education Private Limited and (b) Creative Infosystems Private Limited. Investment made in following related party entities stood at:
- Asian IT Education Pvt Ltd: Rs. 4.9 Million,
- Creative Infosystems Pvt Ltd.: Rs. 8.17 Million
Dr. Rajiv Kumar, Secretary General, FICCI said: “The key highlights are rise in digital content consumption, launch of diverse content delivery platforms, strong consumption in Tier 2 and 3 cities, rising footprint of the players in the regional media, rapidly increasingnew media business and regulatory shifts.”
According to Mr. Jehil Thakkar, Head of Media and Entertainment, KPMG in India “The Media & Entertainment industry landscape is undergoing a significant shift. Cable digitization, the promise of wireless broadband, increasing DTH penetration, digitization of film distribution, growing internet use are all prompting strategic shifts in the way companies work. Traditional business models are evolving for the better as a host of new opportunities emerge.”
Q. How are the financials of the company looking?
(c) On a standalone basis, in Q1FY13, the company did not earn much revenues, however its net loss decreased when considered both on sequential and Q-o-Q basis.
Q. What about the FDI in Broadcasting Sector?
Ans: The CCEA increased foreign investment from 46% to 74% in teleports, cable networks, DTH and mobile TV. The government said it had become necessary because of convergence of technologies involved in the telecom and broadcasting sector. This is expected to have a positive effect on most of the stocks in this sector.