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TV18
MD Raghav Bahl said, “We are extremely happy to declare this
quarter’s financial performance. Our news channels continue
to lead the business news genre. The revenues from all properties
are showing solid growth. Acquisition of Infomedia is underway
and should soon be completed. We have forged a JV with Jagran
Prakashan to launch a Hindi business newspaper and are also preparing
to enter the English business newspaper market”.
TV18
is planning to launch a Hindi and English business newspaper within
12 months. The English business daily is likely to have Financial
Times (which is splitting relationship with Business Standard)
as a partner.
In
the news operation segment, total revenue stood at Rs 1.09 billion
for the quarter ended 31 March 2008, up 53 per cent year-on-year.
Net profit of news operations stood at Rs 300.98 million (after
ESOP charge out).
During
the period, Web18’s total revenue stood at Rs 180.18 million,
up 112 per cent YoY. Web18 suffered a loss of Rs 146.55 million
for the quarter as against a loss of Rs 32.27 million in the last
fiscal.
For
Web18, which houses the internet properties, TV18 is planning
to list overseas in the calendar year.
As
reported earlier by Indiantelevision.com, Web18 is planning
to list in the US to raise funds for expansion. Web18 is looking
at diluting 10-15 per cent through an ADR (American Depository
Receipt) issue.
Total
revenue of Newswire18 stood at Rs 44.59 million for the last quarter
of FY08, up 26 per cent quarter on quarter basis. Newswire18’s
loss was Rs 31.69 million during the period.
For
the full year, TV18 has posted a net profit of Rs 416.84 million,
as against Rs 175.11 million a year ago. Total Revenue has climbed
from Rs 2.01 billion for the year ended March 31 2007 to Rs 3.65.billion
for the year ended 31 March 2008.
Shares
of TV18 rose 2.78 per cent to close Monday at Rs 344.35 on the
BSE.
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