Television

TV18 net profit up 90 per cent to Rs 100.27 million

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MUMBAI: Raghav Bahl promoted Television Eighteen has posted a 90 per cent increase in consolidated net profit to Rs 100.27 million in the quarter ended 31 March 2005.

The company's revenues rose 87 per cent to Rs 319.84 million in Q4 '05 with news operations contributing Rs 310.96 million. The earnings from the entertainment, Internet and software operations were at Rs 8.8 million.

Explains Bahl, "This quarter has been extraordinarily robust for the company, with strong revenues for CNBC-TV18. Awaaz too has shown rapid growth in viewership and is gaining ground every week."

The consolidated results include TV18 India and its subsidiary companies TV18 Mauritius, Eighteen Entertainment India, E18 and MCD.

The company's consolidated total income for FY 2005 is Rs 934 million, up from Rs 537 million a year ago.

The company's operating profit at Rs 163.22 million was up 85 per cent year on year and its operating margin remains above 50 per cent year on year.

The board declared a second interim dividend of 10 per cent on the equity shares (Rs 1 per equity share) thereby making the total interim dividend equal to 20 per cent for the financial year 2004-05.

The TV18 Group recently announced its entry into the general news space in collaboration with Rajdeep Sardesai and Sameer Manchanda. Bahl says, "We are very excited by our foray into the general news space with a very competent and proven team and hope to be a dominant player in this genre."

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