TV18, Balaji scrips shine on strong Q1 results

MUMBAI: This is a result investors may have been waiting for. Television Eighteen put up a robust first quarter performance, pulling the scrip up by Rs 13 to close today in the BSE at Rs 605 in a market that slipped 61 points after four days of continuous rise.

On the television front, TV18 has doubled its revenues over the year-ago period while net profit has jumped 65 per cent to Rs 138.21 million. The company now has four channels - two in the business space and two general news channels.

The Group's internet business is also poised for a scale up, having crossed $1 million (Rs 46.75 million) in the quarter. TV18 is eyeing acquisitions and will soon re-launch and The company has already announced plans to hive off the internet business which will make it attractive for strategic investors.

"The scrip could lift up further, based on these results. The valuation of the internet business will also be interesting," a market analyst says.

Balaji Telefilms, which announced its first quarter results yesterday, is the other media scrip which climbed 4.34 per cent to close the day at Rs 109.45 in the BSE. Analysts say this was on the back of a 39 per cent jump in the TV content producer's net profit to close the quarter at Rs 173.77 million.

The market is yet to be enthused by UTV's deal with Walt Disney Company, shedding marginally in the BSE to close 1.8 per cent down at Rs 168.65. The global media major had bought out Hungama TV and taken a 14.9 per cent stake in UTV for a total consideration of $44.5 million (approximately Rs 2 billion).

"The scrip will gain value once Disney chalks out a joint plan with UTV. It is not clear yet where Disney wants to take UTV forward," says a market analyst.

Among the other media stocks to fall are Zee Telefilms (2.24 per cent to Rs 257.20) and NDTV (from Rs 156.2 to Rs 155.30). TV Today almost stayed flat to close at Rs 76.60.

Latest Reads
Sony Pictures Networks India gears up for the India tour of Australia with engaging programming initiatives

For the year ending high-octane cricket series between India and Australia, Sony Pictures Networks India (SPN), will be undertaking several initiatives to enhance the viewing experience and increase engagement with cricket enthusiasts across the nation.

Television TV Channels Sports
Sony Entertainment Television appoints Sagnik Mukherjee as AVP marketing

Sagnik Mukherjee is set to join Sony Entertainment Television as associate vice president marketing, a source close to the development confirmed to

Television TV Channels People
Viacom18 COO Raj Nayak quits

Colors' Big Boss has quit, according to media reports. We are talking about Viacom18 COO Raj Nayak, who is the brain behind the most popular reality show Big Boss.

Television TV Channels GECs
Monuments Turn Red, As National Geographic Raises an Alarm for Planet Conservation

Glaciers are melting, sea levels are rising, pollution in various parts of the world is at its peak, and tonnes of plastic waste is in the oceans.

Television TV Channels English Entertainment
Sony BBC Earth hosts the extraordinary Natural History Producer and Global Storyteller, Jonny Keeling, in India

Sony BBC Earth, India’s No. 1 factual entertainment channel and home to the most iconic and premium content, continues to deliver to its promise of making the viewers ‘feel alive’.

Television TV Channels Factual @ Discovery
‘Ab Jungle meinhoga Dangal’ with the Hindi Television Premiere of Jumanji: Welcome to the Jungleon November 24th at 8pm only on &pictures

Ever wonder how it feels to be inside a game and play the character you choose? In the brand-new adventure Jumanji: Welcome to the Jungle, the tables are turned as four teenagers in detention are sucked into the world of Jumanji.

Television TV Channels Movie Channels
Broadcasters see regional adex space growing

Now that the Hindi fervour has died down, broadcasters and advertisers have latched on to the regional segment. It's no wonder that the adex in the space is expected to grow as well. According to the global ad growth forecast of GroupM, India’s adex is expected to grow at 14.2 per cent compared to...

Television TV Channels Regional
Bodhi Tree focusing on three verticals to scale up business

Over the top (OTT) services have given a big boost to production houses in the country  Bodhi Tree Multimedia, started by Mautik Tolia and Sukesh Motwani five years ago, only concentrated on general entertainment programs on TV initially. Following the change in the overall entertainment industry,...

Television Production House Fiction
Mumbai Team franchisee owner unable to meet financial obligations towards Zee Maharashtra Kushti Dangal

Mr. Pranav Rajesh Dake, owner of Zee Maharashtra Kushti Dangal’s Mumbai team – Mumbai Astra has regrettably been unable to meet the financial obligations towards Zee Maharashtra Kushti Dangal (ZMKD), its players and technicians.

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories