TV18 Q2 net up 42 % to Rs 100 million

NEW DELHI: The Raghav Bahl-promoted Television Eighteen today reported a 42 per cent surge in net profit to Rs. 99.94 million for the quarter ended 30 September, 2005, riding on a strong revenue growth of 55 per cent.

The Q2 revenue stood at Rs. 308.18 million, compared to Rs. 199.05 million in the corresponding period previous year.

The operating profit at Rs. 170.72 million signified an increase of 69 per cent against the same corresponding period last year. The operating margins remained above 55 per cent year-on-year, while the earnings per share during Q2 were at Rs 4.75.

According to Television Eighteen MD Raghav Bahl, "This quarter has been good for all our businesses, with every operation posting a strong sequential and year-on-year growth. While our flagship, CNBC-TV18, generated strong cash flows, our Internet businesses have begun contributing significantly to the bottomline."

In a statement Bahl said, Awaaz, the group's consumer affairs channel, is on track to achieve a cash break-even by next quarter.

"Our restructuring plan has been applauded by the financial community for its shareholder friendly consolidation of all values for TV18 shareholders. And, now we are excited about the prospects of IBN, which will truly make us the leader in the news space in the country," he added.

The statement said that the TV 18 group's co-branded general news channel, CNN iBN, in association with Time Warner Inc's Cable News Network, is all set for launch by the end of 2005. The group also announced a restructuring plan to meet government guidelines for news channels, consolidating all its businesses within the ownership of existing TV18 shareholders.

During July-September period, the Delhi operations hof TV 18 moved into a state-of-the-art 60,000 sq ft broadcast facility in Noida, on the outskirts of the Capital, from where CNN iBN is slated for launch.

The company also allotted 25,53,380 equity shares, at a price of Rs. 235.40, against warrants held by the TV 18 shareholders, adding slightly over Rs. 575 million to the cash reserves of the company. These warrants were allotted on a rights basis in November 2004.

(Rs 45=1 USD)

Latest Reads
Dream11 aims to increase user base with Hero ISL season 5: Vikrant Mudaliar

Hero Indian Super League (Hero ISL) season five is just around the corner and Dream11 being the official fantasy football partner and home to more than four crore fantasy sports fans is looking to capitalise on the championship buzz to expand its user base.

Television TV Channels Sports
Pet Tales with Mindshare's Ruchi Mathur

Animal Planet is celebrating the bond that humans share with animals through this heartwarming series called ‘Animal Planet Pet Tales’ on the special relationship that India’s top media executives share with their pets.  What’s your favorite pet movie? I don't really have a favourite pet story as...

Television TV Channels Factual @ Discovery
MN+ launches ‘Wings of Change’

MN+, the Gold Class of Hollywood movies, launches a specially curated property ‘Wings of Change’ to celebrate women who have created a paradigm shift in the world of cinema. Starting September 21, 11p.m on MN+, the eight-week property, ‘Wings of Change’ will feature movies starring some of the most...

Television TV Channels English Entertainment
Aaj Tak announces the launch of ‘Saare Jahaan Se Sachcha’

Launch Platform includes the first ever News Roadblock on Aaj tak Prime Time

Television TV Channels News Broadcasting
Teleshopping market sees growth ahead

Since the inception of television home shopping industry in India in the 90s, it has come a long way as compared to the time when the segment was associated with ‘magical’ products, impractical promises or dubbed English slots.

Television TV Channels Specialised and Niche
iTV Foundation organizes free day-long health camp in Karnal

Haryana Chief Minister Manohar Lal Khattar on Monday inaugurated iTV network foundation's free health camp which was held in Karnal, Haryana and lauded the initiative taken by the group. Speaking at the event, Manohar Lal Khattar said that their objective is to increase the number of doctors in the...

Television TV Channels News Broadcasting
Viacom18 dials up its kid’s ecosystem - extends the KidZania association to Mumbai

Viacom18, India’s fastest growing media & entertainment network is all set to extend its association with KidZania to Mumbai.

Television TV Channels Kids
Rajiv Mathrani joins Star Sports as chief marketing officer

Star Sports has appointed Rajiv Mathrani as its new chief marketing officer (CMO), a source close to the development has confirmed to

Television TV Channels Sports
IBF rejigs board; appoints VPs to steer key objectives

The board of directors of the Indian Broadcasting Foundation (IBF) has unanimously appointed Siddharth Jain, Rajat Sharma, Sudhanshu Vats and K Madhavan as the vice-presidents to broadbase and liaise with the government and other stakeholders for the sectoral growth.

Television TV Channels People

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories