TV-18 Q3 net profit up 55%, 62% revenue growth

MUMBAI: Raghav Bahl promoted Television Eighteen has posted a consolidated net profit of Rs 82.5 million (excluding Forex gains/losses and deferred tax adjustment) in the quarter ended 31 December, 2004, which is up 55 per cent year on year. The company's operating profit stood at Rs 135 million, which is up 83 per cent year on year.

Also the company has grossed revenues of Rs 246 million during the same period as opposed to Rs 151.92 million in Q3 2003. Thus, the company saw a revenue increase of 62 per cent year on year.

The TV18 group launched it's Hindi business channel Awaaz on 13 January, 2005 and also began content supply to a channel focused on the NRI community in the US – South Asia World (SAW).

On the other hand, CNBC-TV18 completed five years this year and has a 45 per cent market share of adult male viewership for the English news category.

Following a meeting of the company’s Board of Directors, Television Eighteen managing director Raghav Bahl, who was re-appointed as MD of the company for five years with effect from 1 April, 2005 to 31 March, 2010, said, "CNBC-TV18 has completed five very successful years in India. We expect our influence and reach to grow exponentially with the launch of our Hindi language consumer channel - Awaaz. We have also commenced supply of our content to overseas Indians and expect these moves to contribute positively to the company’s operational performance."

The company also informed the Bombay Stock Exchange (BSE) today that the company's board had approved the launch of the fixed deposit scheme. The borrowing limit of the company has been increased from Rs 1000 million to Rs 5000 million and the increase in limit for creation of charge has been increased from Rs 2000 million to Rs 5000 million.

The company also informed the BSE that it was delisting its shares from the Delhi Stock Exchange Association.

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