TV18 Q2 standalone net at Rs 90 mn, revenue up 5%

MUMBAI: Television18, which runs leading business news channels CNBC-TV18 and CNBC Awaaz, has managed a second consecutive profitable quarter, signaling a rebound in the economy.

On a standalone basis, TV18 has posted a net profit (after tax and minority interest, before ESOP charge out) of Rs 60 million for the quarter ended 30 September, as compared to a net loss of Rs 330 million a year ago.

Recovering from the slow down, revenue from news operations saw a marginal 4.6 per cent increase to Rs 680 million, as against Rs 650 million in the corresponding quarter of FY‘10.

On a sequential basis, the company’s revenue has increased 6.25 per cent as compared to Rs 640 million in Q1.

Operating expenses were kept under check (down 19 per cent) at Rs 470 million in the quarter under review on Y-o-Y basis (as compared to Rs 580 million).

Meanwhile, the operating margin of the company jumped to 31 per cent in the quarter under review, compared to 11 per cent in the prior-year period. 
  On a consolidated basis, TV18, which also includes financials of Web18, Infomedia18 and Newswire18, has posted a net loss of Rs 140 million. For the same quarter of the previous year, net loss stood at Rs 560 million.

Total revenue from consolidated operations jumped 17 per cent to Rs 1.45 billion, as compared to Rs 1.24 billion a year ago. Expenses stood at Rs 1.33 billion, up 3.11 per cent.

The company announced that all its business have seen revenue growth – five per cent in News Operations, 21 per cent in Web18, 24 per cent in Newswire18 and 35 per cent in Infomedia18.

The company has also posted an operating profit of Rs 120 million, as against operatin loss of Rs 50 million. However, it said that profits “offset by continued investments” in Infomedia18 and Web18.

Web18, the subsidiary that houses all the websites of the group, posted a revenue of Rs 190 million (from Rs 160 million a year ago), while expenses remained almost flat at Rs 200 million (from Rs 210 million) during the quarter. The operating loss narrowed to Rs 10 million, from Rs 50 million in the year-ago period.

In Infomedia18, however, the net loss has increased to Rs 160 million, from Rs 40 million in the corresponding quarter of FY ’10. Revenue has increased to Rs 480 million, from Rs 350 million, while expenses climbed to Rs 570 million from Rs 420 million a year ago.

In Newswire18, revenue has grown to Rs 100 million, while expenses also stood at Rs 100 million, making it a no profit-no loss unit.

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