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MUMBAI:
TV18 has posted a consolidated net loss of Rs 85.55 million
(after ESOP charge out) for the quarter ended 30 June, 2008
as against profit of Rs 740000 in the year ago period.
The
company's income has increased 36 per cent to Rs 929.29 million,
from Rs 681.58 million in the year ago period.
TV18
MD Raghav Bahl said, “We are happy to share this quarter’s
performance. Our flagship business news channels are firmly
placed at leadership positions, leaving any other network
in the genre far behind. Our new initiatives are performing
well. Web18 today holds some of the most valuable portals
in India and is maintaining robust revenue growth. Newswire18’s
revenues have displayed solid traction, having launched new
product line for value clients and rapidly expanding its customer
base”.
News operations of the company, which include CNBC TV18 and
CNBC Awaz, earned a net profit (after Esop charge out) of
Rs 97.31 million in the first quarter of the fiscal as against
Rs 76.20 million year-on-year.
Revenue
from news operations has surged 30 per cent to Rs 753.35 million,
from Rs 579.24 million in the year ago period.
In
the first quarter of the fiscal, Web18's net loss (after Esop
charge out) was Rs 76.57 million. However revenue jumped 41
per cent to stand at Rs 131.58 million, from Rs 93.41 million
year-on-year.
Newswire18's
net loss stood at Rs 38.04 million in the first quarter. Revenue
from Newswire18 has seen a growth of 400 per cent to stand
at Rs 44.99 million, from Rs 8.94 million in the year ago
period.
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