TV18 Q1 sets trend for double-digit growth

MUMBAI: Television18 (TV18), which runs a clutch of business news channels, has posted a standalone net profit of Rs 50 million, reversing the year ago net loss of Rs 280 million, as the Indian economy has recovered from a slowdown and the financial sector has rebounded.

Revenue from news operations at Rs 640 million stands 13 per cent higher than the prior-year period. This, though, is less than the trailing quarter when TV18's standalone revenue was at Rs 840 million due to the advertising gains from the Budget.

Operating profit at Rs 160 million was higher than Rs 60 million posted in the first quarter of FY'10. TV18 also improved its operating margins to 24 per cent from prior year’s 11 per cent.

Operating expenses, including the revenue it shares with CNBC, stood at Rs 490 million, down from Rs 510 million in the comparative quarter.

On the consolidated front, TV18 posted a revenue of Rs 1.2 billion, up 12 per cent, while expenses stood at Rs 1.12 billion, from Rs 1.07 billion in the earlier year.

Web18, the subsidiary that houses all the websites of the group, has curtailed its operating loss to Rs 30 million, as against Rs 40 million a year ago. Revenue from operations grew 26 per cent to Rs 180 million, while expenses were at Rs 210 million (from Rs 180 million).

In Infomedia18, the net loss for the quarter increased to Rs 80 million, from Rs 20 million in the corresponding quarter of FY’10. Revenue, however, remained flat at Rs 290 million, while expenses increased to Rs 350 million (from Rs 310 million).

In Newswire18, revenue rose to Rs 90 million, from Rs 70 million a year ago. The company posted an operating profit of Rs 10 million.

As on 30 June, TV18 has reduced its net debt to Rs 2.24 billion.

Latest Reads
Keshet hires kids content veteran Nicola Andrews to lead acquisitions & sales

Keshet International (KI) has appointed Nicola Andrews, a kid’s content expert with more than 20 years’ experience, to lead its recently announced kid’s division. Nicola joins KI as Senior Sales & Commercial Director, Kids, based in London, reporting to Keren Shahar, COO KI and President of...

Television TV Channels Kids
Ireland clears Fox' proposed acquisition of Sky

MUMBAI: 21st Century Fox has welcomed the decision by the Republic of Ireland’s Minister for Communications, Climate Action and Environment to clear the company’s acquisition of the outstanding shares of Sky that the company does not already own, ruling that the proposed transaction will not...

Television TV Channels News Broadcasting
Movies HD in Star Maa's refreshed identity with new programmes

MUMBAI: Star Maa, the Telugu GEC of Star Network, is rechristening its network channels under the Star Maa umbrella. On 25 June, the brands Maa Music, Maa Gold and Maa Movies were respectively rebranded as Star Maa Music, Star Maa Gold & Star Maa Movies. Apart from the refreshed movies channel...

Television TV Channels Regional
ZEEL to globally strengthen its 'largest Indian entertainment' brand identity, says Amit Goenka

Internet is significantly changing the way we consume entertainment -- AR and VR are becoming commonplace. Over 60% of the world’s population is ‘digitally connected’ today. Content companies and advertisers are swiftly adapting to the new reality and redefining their strategies to stay on the top...

Television TV Channels GECs
BBC Pashto adds arts to its TV offer

MUMBAI: The BBC Pashto flagship TV programme, BBC Naray Da Wakht (BBC World Right Now), is launching a weekly arts supplement. From 1 July 2017, the weekly slot, Hunary Shabay (Art Moments), will focus on art and literary news from Afghanistan, Pakistan and from around the world. BBC Pashto is...

Television TV Channels News Broadcasting
Zee News' Vasindra Mishra joins Network18

Vasindra Mishra has joined Network18 as a consulting editor.

Television TV Channels News Broadcasting
Vivo wins IPL title rights for Rs 21.9 bn

Vivo has won the bid for IPL for 2018-2022 for Rs 21.9 billion -- which is a 554 per cent hike over the previous contract. Oppo, with Rs 14.3 bn-bid, Motorola, Xaiomi, and Intex were the other bidders.

Television TV Channels Sports
Network18 launches Amplify18 with Parekh as AGM

MUMBAI: Network18, a diversified media conglomerate, has announced the launch of Amplify18. The entertainment, lifestyle & brand amplification entity of Network18, Amplify18 will leverage the group’s pan-national television network along with the strong digital network to drive visibility,...

Television TV Channels News Broadcasting
58% watched DD English news as per 4-wk average, pubcasters' overhaul under way

MUMBAI: Even as the new Prasar Bharati CEO Shashi Vempati plans pubcasters' overhaul, Doordarshan News has reportedly beaten all private English channels, according to BARC data. Screams by star news anchors notwithstanding, English news channels hardly reach around four million in a population of...

Television TV Channels Terrestrial

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories