TV18 Q2 net Rs 239 million; to expand broadcast operations

MUMBAI: Raghav Bahl's Television Eighteen, the owner of business news channel CNBC-TV18, has reported a net profit of Rs 23.9 million for the July-September quarter. This is before providing for foreign exchange losses. The company today informed the Bombay Stock Exchange that it plans to raise money through a rights issue to expand its broadcasting operations

After deducting forex losses, the TV18's bottomline is Rs 18.2 million. In the same quarter last year, the company had logged a loss of Rs 1.6 million without forex losses and Rs 9.8 million after forex losses. Importantly, operating margins are up at 37.58 per cent from 22.09 per cent. The net sales of the company rose 25.54 per cent to Rs 109.1 million from Rs 86.9 million.

The company's board today approved raising of money through a rights issue. The company had raised money through a rights issue in February 2003. In between, it had also raised money through zero coupon debt. quoted Bahl as saying the money being raised will be used for expansion. "The cash requirements of current operations, the channel, are nil. This channel is funding itself. The company has got cash on the books to completely look after the requirements of the existing channel. We are looking at a rights issue, which our board has approved this morning, is purely for expansion of our broadcast operations and our broadcast properties. After fairly good success of the channel, CNBC-TV18, there are clearly good opportunities available in this space and related spaces. The market is expanding," Bahl was quoted as saying.

Latest Reads
A+E Networks | TV18 launches FYI TV18 HD

AETN18, the joint venture between A+E Networks and Network18 has planned to launch the high definition (HD) version of the contemporary lifestyle entertainment channel—FYITV18 on 18 October 2018.

Television TV Channels Specialised and Niche
Tata Communication, European Tour show how VR can transform golf

The European Tour and Tata Communications have completed the world’s first test of live 360° video in 8K Ultra High Definition – the highest resolution in digital television on 16 October 2018.

Television TV Channels Sports
Kids most benefited genre in Chrome DM week 41

MUMBAI: With a growth of 0.72 per cent as compared to last week (40), the kids genre marked the highest opportunity to see (OTS) among all categories in week 41 of Chrome Data Analytics & Media. In the kids genre, Nickelodeon gained the highest OTS with 91 per cent in All India 1 Lakh+ market....

Television TV Channels Viewership
Prepare for three months of fireworks as COLORS SUPER premieres Bigg Boss Kannada – Season 6

Television viewing has never been the same, since the introduction of reality programming kingpin

Television TV Channels Regional
Star Bharat brings Kaal Bhairav Rahasya 2 with a new mystery

India has had age old history associated with myths legends folklore and one of the biggest myth has been that of the curses.

Television TV Channels GECs
Industry Honchos Uday Kotak, Rajnish Kumar and Kalpana Morparia come together to identify the winners of IBLA 2019

CNBC-TV18’s most-awaited marquee property, The India Business Leaders Awards will be conducting a jury meet along with an informative and insightful panel discussion on Today at Trident BKC, Mumbai, 2:30 pm.

Television TV Channels News Broadcasting
News18 India Unveils Two New Shows- “Ye Desh Hai Humara” and “Akhada”

Ahead of the upcoming assembly elections in 5 states including MP & Rajasthan and general elections next year

Television TV Channels News Broadcasting
Zee Telugu Announces World Television Premiere of Allu Arjun starrer Naa Peru Surya

Filling this weekend with patriotism, action and drama, Zee Telugu is here with a world television premiere movie of a young man discovering himself while finding the right balance between serving his country and overcoming the hurdles thrown at him due to the power struggles in place.

Television TV Channels Regional
BTVI endeavors to increase financial literacy across India through Money Mantra

Business Television India (BTVI), India’s Premier English Business News Channel, introduces a multicity initiative - Money Mantra which is an effort to expand the financial awareness and literacy by bringing together, personal financial experts and mutual fund experts close to the common man and...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories