Television

TV 18 net profit up 29% at Rs 80 million

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MUMBAI: The Raghav Bhal promoted Television Eighteen has recorded a net profit of Rs 80.05 million for the quarter ended 30 June 2005. The group has posted a revenue growth of 57 per cent while its net profit registered a growth of 29 per cent.

The results show a 55 per cent gain in revenues to Rs 266.10 million for the quarter ended 30 June. The operating profit for the quarter stood at Rs 135.37 million, registering a year-over-year gain of 57 per cent.

The operating margin remains above the 50 per cent mark. The results show the company's net profit up by 29 per cent. It stood at Rs 80.05 million to corresponding quarter's Rs 62.09 million.

Following the company's board meeting, Television Eighteen managing director Raghav Bahl said: "This quarter has been very heartening for Awaaz, which has emerged as the fastest growing news channel in the country. We have been seeing an average growth rate of 20 per cent on a week-on-week basis in viewership for Awaaz for the last two months - this is a validation of our expectation that there was a huge latent demand for consumer and business news in Hindi. We hope to see this trend continue which would make Awaaz one of the most profitable news channels soon."

The group launched the Hindi consumer channel, Awaaz on 17 January.

TV 18 scrip opened at Rs 347.30 and closed for the day at Rs 354.35.

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