News Broadcasting
TV18 Q3 net profit up 42 % at Rs 208 million
MUMBAI: Television 18 India Ltd declared its third quarter results for the period ended 31 december 2007. Net profit for the quarter (after deferred tax) was Rs 208.22 million, up 42.3 per cent from the Rs 146.31 million achieved in the corresponding quarter a year ago.
TV18’s Total Q3 Revenues surge to Rs 1.12 bn; UP 74 per cnt YoY and up 27 per cent QoQ.
Business news revenues were up 57 per cent (YoY), according to a statement issued by the company on the unaudited results. Business News operating margin was back at 50 per cent. Internet revenues were up 161 per cent (YoY), while newswire18 revenues were up 44 per cent (QoQ).
Meanwhile, Infomedia (subsidiary-under-acquisition) revenues stood at Rs 410 million;
Highlights:
• TV18 forays into print medium with acquisition of Infomedia.
• Announces a Strategic tie-up with Forbes to launch business magazine.
• Web18 revenues show promising growth. Moneycontrol stays ahead of ndtv.com and wsj.com for the entire quarter.
TV18 MD Raghav Bahl said: “We are happy to announce the financial results for this quarter. We are excited about our entry in the print space through the acquisition of Infomedia. Both news channels are maintaining their dominant positions in relevant markets. Web18 revenues have started showing strong growth. Newswire18 is continuously adding new clients to its list.”
