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HomeNewsNational NewsOdia media company Eastern Media Ltd to launch Odia GEC
Monday, 20 January 2020 12:07

Odia media company Eastern Media Ltd to launch Odia GEC

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The Odia media company Eastern Media Ltd (EML), which owns a regional news channel named Kanak News, is planning to launch an Odia GEC in FY21. The group has a presence in print, TV, radio and cable distribution.

Since the company has the entire set-up in place, the new channel launch will not entail any major CAPEX. 

At present, the Odia GEC market is dominated by Zee Sarthak, Colors Odia, and Tarang TV.

The group has posted an operating profit of Rs 18.23 crore for the fiscal ended March 2019 compared to Rs 13.78 crore in the previous fiscal. Its revenue increased by 9.08% YoY to Rs 190 crore in FY19 on account of growth in the readership base. The company’s revenue increased at a CAGR of 10.46% during FY16-FY19. However, the scale of operations continues to be medium.

The company expects revenue growth to continue in FY20, based on a rise in the number of subscriptions for its newly started digital cable services as well as an increase in newspaper circulation on account of greater geographical penetration.

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