TV18 net up 65% at Rs 138.21 million

MUMBAI: Television Eighteen's consolidated net profit has shot up 65 per cent to Rs 138.21 million for the first quarter of this fiscal, as against Rs 83.51 in the year-ago period.

TV18's revenue has also seen a 55 per cent jump to stand at Rs 416.07 million. In the first quarter of FY06, the company's turnover was Rs 269.17 million. Early this year, TV18 had picked up a stake in Jagran TV, the managers of the Hindi news channel --Channel7.

Revenue from news operations rose to Rs 364.52 million, from Rs 257.31 million a year ago. TV18's internet business has crossed $1 million during this quarter. The new media assets include the recent acquistion of (Indian arm). The group plans to hive off its internet business this year.

TV18's operating profit has gone up 57 per cent to Rs 213.76 million, up from Rs 136.45 million. The company has maintained an operating margin of over 50 per cent.

TV18's restructuring scheme, which would make it compliant with the uplinking guidelines laid down by the government, has been approved by Delhi High Court.

"Our revenues continue to show robust growth and we expect to benefit significantly from the increase in distribution platforms for our services - via DTH, broadband, digital cable and mobile," Television Eighteen MD Raghav Bahl says:

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