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MUMBAI:
Network18 has posted a consolidated net profit of Rs 406.79
million for the fourth quarter of FY'08, up 161 per cent year
on year (YoY) from Rs 155.8 million.
During
the period, the company’s revenue grew 90 per cent YoY to stand at Rs 2.32
billion. Revenue of IBN18 (erstwhile Global Broadcast News) was Rs 435.5 million
while HomeShop18 fetched Rs 13.53 million (revenue).
All
Network18's smaller businesses, with Rs 500 million as revenue
base, have an average growth of 100 per cent. Businesses,
which are more than Rs 1 billion, have grown between 50 and
100 per cent.
Network
18 MD Raghav Bahl said, “We are really happy to share
this quarter’s financial performance of the Group. Both
listed subsidiaries of Network18 have posted robust growth
in revenues and profits. All news channels are maintaining
their dominant positions in their respective markets. Web18
is showing a phenomenal traction and a couple of very strong
portals are set for launch there.
"The
HomeShop business has taken off. The Indian Film Company’s film operations
have catapulted it to a leadership position in India’s film industry. We
are now excited about our 3-pronged entry into business news publishing. Finally,
we are working closely with the Infomedia management to take the company to the
next stage of digital growth.”
For
the full fiscal, Network18 has posted a consolidated profit
of Rs 520 million while the group's revenues stood at Rs 6.57
billion.
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