Wed, 10 Oct 2012 12:15:00 GMT | By IANS

CPI-M backed Kairali TV making profits

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CPI-M backed Kairali TV making profits

Kairali TV, backed by the Communist Party of India-Marxist (CPI-M), has declared a net profit of Rs.13.16 crore and has paid Rs.4 crore in taxes, a company official said on Tuesday.

Denying that the channel is in the red, Kairali TV's executive director T.R Ajayan said in a statement: "A section of the media is weaving out baseless stories that we are having a financial crunch."

"This is far from the truth as in the last fiscal we have declared a net profit of Rs.13.16 crore and paid a tax of Rs.4 crore," Ajayan said.

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