Television Eighteen India announced that Network18 India Holdings (P), a promoter group company of Television Eighteen, has exercised the option to convert one lakh convertible warrants (including bonus) into equity shares.
Consequent to exercise of the option, the company has made an allotment of 100,000 equity shares of Rs 5 each issued at a premium of Rs 393 a share aggregating to Rs 39,800,000 on Sep. 22, 2008.
Television Eighteen registered a 17.42% growth in net profits to Rs 34.44 million for the quarter ended in June 2008 from a profit of Rs 29.33 million for the quarter ended in June 2007.
Net sales rose 72.54% to Rs 902.39 million for the quarter ended June 2008 from Rs 523.01 million for the quarter ended June 2007.
Shares of Television Eighteen closed down Rs 4.9, or 2.47%, at Rs 194. The total volume of shares traded at the BSE was 4,264 (Thursday).
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