1. In accordance with the recommendation on Derivative Positions of Companies given by the Institute of Chartered Accountants of India, the Company has provided mark to market derivative losses of Rs 1030 lacs in current quarter and the aggregate loss of Rs 4435 lacs for full year, expensed under finance cost.

2. Consequent to non-exercise of conversion options by the holders by April 21, 2009, the outstanding FCCBs aggregating USD 3.79 mn. is due for redemption on April 29, 2009 . Interest due there on as on March 31, 2009 is provided in above financials.

3. During the year company has received income tax refund of Rs 5249 Lacs and the resultant interest income and excess provision is neither accounted for nor written back in this financials, pending final assessment for the relevant year.

4. Previous years figures in the quarterly results and revenue of education segment are for three quarters hence not comparable.

5. During the quarter Asia Today Limited (ATL) a subsidiary of the company has disinvested its entire 100% shareholding in Pan Asia Infrastructure Ltd (PAIL), which resulted in aggregate profit of Rs 1948 lacs, which is included in interest and other income.

6. During the year Asia Today Ltd (ATL) a subsidiary of the company has (i) divested its 48.44% holding in Broadcast South Asia Ltd (BSA) under a buyback arrangement for USD 30.9 mn. and (ii) has increased its 60% shareholding in its subsidiary Asia Business Broadcasting Limited (ABBML) to 100% by an additional investment of USD 56 mn.

7. Segment information has not been presented in the stand-alone financial statements, as the Company has presented segmental information on the basis of the consolidated accounts (as permitted by Accounting Standard 17).

8. The Statutory Auditors have carried out a ´Limited Review´ of the standalone financial results for the quarter and financial year ended March 31, 2009.

9. Previous year figures have been reclassified / regrouped wherever necessary.

10. The above results were reviewed by the Audit Committee on April 21, 2009 and approved by the Board of Directors in their meeting held on April 22, 2009.

Punit Goenka
Whole Time Director & CEO