news channel CNN IBN was launched in December 2005, while Hindi
news channel IBN7 is the rebranded version of Channel 7, which was
acquired by Network18 in 2006 from Jagran group.
business news operations - CNBC 18 and CNBC Awaaz - continued to
be TV18 Broadcasts crown jewel with revenues of Rs 718 million
in the first quarter of 2012-13, up from Rs 681 million a year earlier.
Operating profit from business news operations increased to Rs 208
million in the first quarter from Rs 175 million in the earlier
operating margin for business news improved to 29 per cent from
26 per cent. TV18 Broadcasts operating profit for the overall
news business in the first quarter rose 27 per cent to Rs 232 million.
MD Raghav Bahl said, After a strong phase of investment in
building our portfolio of channels, TV18 has now entered a consolidation
phase and we are focused on creating value for all our stakeholders.
Even though the broader macroeconomic environment remains challenging
and uncertain, the Indian broadcasting industry is enthused by the
enormous opportunity that digitisation presents.
TV18, we are confident that with our distribution venture - IndiaCast,
we are well poised to claim our rightful share of the opportunity.
After we complete our proposed strategic stake acquisition in ETV
and the proposed twin rights issues (subject to regulatory approvals),
we believe that our strong television footprint will propel us to
the next phase of our growth.
though its general news business reported an operating profit, TV18
Broadcast reported a net loss of Rs 78 million in the first quarter
against a net profit of Rs 235 million a year earlier, as its interest
cost rose to Rs 291 million (from Rs 210 million). TV18 Broadcast
was helped in reporting net profit in the first quarter of the previous
fiscal by high other income of Rs 337 million compared to Rs 41
million in the quarter ended 30 June 2012.
the exit quarter of the previous fiscal, TV18 Broadcast had reported
a net loss of Rs 83 million.
Broadcasts revenue from news business rose 7.20 per cent to
Rs 1.36 billion in the first quarter from Rs 1.27 billion a year
earlier. The companys income from operations stood at 1.22
billion, up 5.17 per cent.
expenses for the news business saw a minor jump to Rs 1.14 billion
from Rs 1.09 billion a year earlier due to rise in staff costs to
Rs 380 million from Rs 320 million. Marketing, distribution and
promotional expenses, however, fell to Rs 333 million from Rs 373
million a year ago.