TV18 Q3 net up 47% to Rs 120 million

MUMBAI: The Raghav Bahl – promoted Television Eighteen today registered a 47 per cent jump in net profit to Rs 120 million for the quarter ended 31 December 2005, triggered by a strong rise revenues. 
The Q3 revenue stood at RS 381.14 million, up 55 per cent from RS 246.05 million a year ago.
The operating profit at Rs 208.37 million signified an increase of 54 per cent as against the same corresponding period last year. The operating margins was maintained at 55 per cent year-on-year, while the earnings per share during Q3 were at Rs 5.69.
Commenting on the results, Television Eighteen MD Raghav Bahl said: “It has been a historical quarter for the company – CNBC-TV18 and Awaaz channels have posted record growth and we have seen CNN-IBN launch to a tremendous response from viewers. With CNN-IBN fast gaining traction in the general news space, it is only a matter of time before TV18 establishes itself as the undisputed leader in the news space in the country.”
Hindi business channel Awaaz’s revenues stood at approximately Rs 55 million in Q3, up from Rs 40 million in the last quarter. “The channel is fast approaching operating break-even,” the company says in a release. The group’s internet businesses also grew by almost 6 times year-on-year and made an announcement of entry into subscription model.
TV18 recently consolidated its media business to comply with the uplinking norms. “TV18 board of directors passed a detailed scheme for restructuring of ownership pattern to meet government of India guidelines,” informs the statement.