Animation company Pentamedia Graphics (www.penta-media.com)
has failed to renew its subscription to leading Tamil channels
like Sun TV, Raj TV, Raj Digital Plus and Jaya TV for distribution
on its broadband portal www.numtv.com.
The web-casting portal is targeted at US-based NRIs.
Cash crunch is cited as
the reason for its failure to renew the channel subscription. The
absence of the Tamil premier channel Sun TV from its offering has
invited the ire of several overseas subscribers of the portal.
Currently the portal
offers just three hours of archived programmes of Raj, Raj Digital
and Jaya television channels. Though in a press release the
company claims about offering the Aaj Tak news channel as part of
its channel bouquet, the portal has no information about the same.
Pentamedia Graphics, in
the meantime, closed its third quarter with a lower turnover and
net profit. The total income and net profit for the period under
review came down to Rs 125.51 crore and Rs 33.45 crore as compared
to the Rs 161.35 crore and Rs 53.15 crore, respectively, posted
for the corresponding period last year.
Even the nine-month
figures reflect a downward trend. The company has declared an
income of Rs 397.75 crore and a profit of Rs 88.25 crore, as
against the Rs 424.89 crore and Rs 119.79 crore declared last
As a result of the
downward revision in employee pay-scales and the downscaling of
workforce, the companys employee cost for the nine months has
come down to Rs 174.83, as compared
to the Rs 223.78 crore for the corresponding period last year. On
the other hand the interest outgo has sharply shot up to Rs 11.47
crore this year.
Pentamedia Graphics is
planning to raise funds through various means ADR/GDR/FCCB
to undertake own and co-production of films. The company recently
released its third animation movie, Alibaba. The film was
executed in the companys studios in India, the US and Canada.