Special Correspondent

2008-’09 turnover Rs.47.86 crore

Net profit put at Rs.7.65 crore

THIRUVANANTHAPURAM: Malayalam Communications Limited, which operates a bouquet of channels under the flagship Kairali TV, has announced a 5 per cent dividend for 2008-’09.

The company, riding on a 36 per cent increase in revenue over the previous year, logged a total turnover of Rs.47.86 crore during 2008-’09. The revenue during 2007-’08 was Rs.35.21 crore. The company’s net profit during 2008-’09 was Rs.7.65 crore, Malayalam Communications Limited chairman Mammootty and managing director John Brittas informed the company’s annual general meeting here on Monday. This is the first time after its formation that Kairali TV is announcing dividend for its shareholders.

The meeting re-elected Mr. Mammootty chairman and Mr. Brittas managing director of the channel, which is virtually controlled by the State CPI(M), and retained the director board without any change. Over the last five years, the company had launched two channels, ‘People’ and ‘We’, and completed Kairali Tower, a multi-storey state-of-the-art studio-cum-administrative facility worth about Rs.50 crore, in the heart of the capital city. The company had already acquired satellite space for a fourth channel and would be ready to launch one as and when the shareholders desired, Mr. Mammootty told the AGM.

He pointed out that Kairali TV had put in a strong showing at a time when TV channels across the globe and many in India had performed dismally on account of the global economic crisis. The channel had logged a 70 per cent growth in revenue over the last couple of years. The dividend, though small, was a sign of the resilience that the company had achieved over the years. Disbursement of the dividend had already begun, but the company would be ready to convert the dividend into additional shares, he said.

Mr. Brittas said modernisation was in full swing and that beginning January 1, Kairali TV too would switch over to non-linear post production and server-based telecast of programmes. Since the shareholder-base of the company was large, steps would be taken to disburse the dividend at the district-level, he said.