TV 18 net at Rs 21.34 million for June Quarter

MUMBAI: TV Eighteen has posted a net profit of Rs 21.34 million for the first quarter of this fiscal. The TV 18 group includes TV 18 India and its subsidiary companies TV 18 Mauritius, Eighteen Entertainment India, E18 and MCD.

The scrip opened today on the National Stock Exchange at Rs 105, gained 4.55 per cent and ended the day at Rs 108. On the Bombay Stock Exchange, the scrip opened the day at Rs 102.35, gained 4.98 per cent and was last traded at Rs 107.45.

The figures for TV Eighteen show a 25 per cent year on year (yoy) growth in revenues that went up from Rs 70.13 million to Rs 88 million. Out of this consolidated figure of Rs 88 million, revenue from news operations accounts for Rs 86.86 million.

The operating profit is up by 104 per cent yoy at Rs 30.82 million from Rs 15.14 million while operating margin is 35.03 per cent.

Revenues up by 25 per cent yoy (at Rs 88 million from Rs 70.13 million)

Operating profit up by 104 per cent yoy (at Rs 30.82 million from Rs 15.14 million)

Operating margin at 35.03 per cent vis-?-vis 21.59 per cent yoy

Net profit at Rs 21.34 million * from a loss of Rs 2.25 million * yoy

Earnings per share (EPS) at Rs 1.83*

* Excluding exchange fluctuations.

Television Eighteen managing director Raghav Bahl comments, "Q1 is a seasonally weak quarter for the company but we are happy to report robust performance as a result of our continued focus on managing costs."

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