|
TV
18 has posted a net profit of Rs 76.19 million on a turnover of
Rs 579.23 million from its news operations for the first quarter
ended 30 June 2007.
In
the year-ago period, revenue was at Rs 402.12 million while net
profit stood at Rs 36.86 million. The company runs business channels
CNBC-TV18 and CNBC-Awaaz.
Though
revenue from internet and software operations jumped to Rs 93.41
million from Rs 51.54 million, TV 18 incurred a net loss of Rs 25.53
million as against a profit of Rs 21.29 million in the corresponding
period of the previous year.
"The
investment losses of Web 18 are minimised by strong revenues of
existing portals," the company said in an official release.
Web 18 has commenced conversion to US GAAP standards.
Newswire
18's revenue stood at Rs 8.93 million while net loss was at Rs 49.92
million for the quarter. TV 18 acquired Crisil MarketWire (CMW)
from Crisil Ltd and rechristened it as Newswire 18.
Commenting on the performance TV18 MD Raghav Bahl said,: "We
are thrilled with this Quarter's performance. While our channels
are scaling new heights in the business news space, the internet
properties under Web18 have started posting robust revenues. Newswire18
has expanded its network and is ahead of its business plan."
|