TV18 Q4 net up 25%, plans English biz newspaper launch within a year

MUMBAI:TV18 has posted a net profit of Rs 189.52 million for the quarter ended 31 March 2008, up 25.51 per cent as against Rs 150.99 million from the corresponding quarter of the last fiscal.

During the period, total revenue has seen a growth to Rs 1.11 billion, from Rs 680.8 million.

The company’s consolidated revenue has surged 64 per cent, on a year-on-year (YoY) basis, to stand at Rs 1.32 billion.

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, 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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