MUMBAI: The Board of Directors of Raj Television Network has approved the opening of subsidiary or branch offices in US and European markets and other Asian Countries.

The board has also authorised the Raj TV MD M Rajhendharan to explore the various opportunities and avenues for fund raising plans to cater to the ambitious growth plans of the company.

Raj Television Network has posted a standalone net profit of Rs 32.4 million for the quarter ended 31 December compared to Rs 20.5 million in the same quarter of previous fiscal.

The company?s net income from operations during the quarter was Rs 174.6 million compared to Rs 139.4 million. Expenditure rose to Rs 133.8 million from Rs 113.6 million due to jump in cost of revenues.