News Broadcasting
TV18 registers Rs 15 m. net profit in Q1 2002
NEW DELHI: The Raghav Bahl-promoted Television Eighteen Ltd has recorded a net profit of Rs 15.25 million for the quarter ended June 30, 2002 as compared to Rs 11.25 million for the quarter ended June 30, 2001. The total income has increased from Rs 72.48 million in JQ-01 to Rs 78.07 million in JQ-02.
The Q1 operating profit has gone up to Rs 15.15 million from Rs.0.79 million on an year-on-year basis. The operating margin is up to 21.60 per cent from 1.27% Y-o-Y. The statement said that improved financial performance has been recorded despite the current quarter being seasonally the weakest quarter.
Revenues are up 12.71 per cent on an Y-o-Y basis, while the operating expenditure is down 10.48 per cent Y-o-Y.
According to a statement issued today the Television Eighteen Group (TVEG) has posted sustained revenue and profitability growth over the last five quarters. The consolidated net profit for the quarter ended June 30, 2002 is at Rs 4.18 million as compared to a net loss of Rs 8.19 million in the quarter ended June 30, 2001. Revenue from Operations has increased from Rs 62.22 million in JQ-01 to Rs 70.13 million in JQ-02.
Following the company’s board meeting earlier in the day, Raghav Bahl, Television Eighteen’s Managing Director said: “The company’s performance continues to improve – the operating margin has risen substantially as a result of growth in revenues and increased efficiency of operation. We expect this trend to continue in the coming quarters.”
The financial performance has been measured for Television Eighteen Group on a consolidated basis. This includes TV 18 India and its subsidiary companies TV 18 Mauritius, Eighteen Entertainment India and E18.
According to TV 18, as investors were informed, the company made a provision for the bad debts of M/s Home Trade after the Q4 ’02 results was declared in April. Accordingly, Q4 ’02 results have been re-compiled.
News Broadcasting
Mihir Bhatt appointed as chief content officer at News18 Studios
The media veteran brings two decades of experience across television, digital and radio to one of India’s biggest broadcast networks, Disney+ Hotstar, Discovery+
NEW DELHI: Network18 has a new strategist in the building. Mihir Bhatt, one of Indian media’s more versatile operators, has joined News18 Studios as chief content officer, stepping into a role that will see him shape content strategy, build multi-platform properties and drive brand partnerships across the network.
Bhatt brings more than two decades of experience spanning television, digital and radio, with a track record of doing something rare in Indian media: combining editorial ambition with hard commercial results. At Times Network, where he served as managing editor and chief business officer of Times Influence, he built one of the industry’s more respected content studios, launching marquee properties such as the India Economic Conclave, the Times Now Summit and Leaders of Tomorrow. He also pushed the network into premium OTT territory through tie-ups with Disney+ Hotstar and Discovery+.
His resume stretches well beyond the studio. Bhatt has led Global Investor Summits for multiple state governments, worked alongside the World Economic Forum and played a pivotal role in launching the Indian Pickleball League. Earlier, as editor of Zee Business, he pioneered investor education initiatives that are still cited as industry benchmarks.
At News18 Studios, Bhatt will report to chief executive S Shivakumar and will oversee the studios execution vertical alongside revenue verticals covering emerging markets and campaigns. Sidharth Saini, Hemanth Kumar and Nimar Sarkaria will work under him.
Rahul Joshi, managing director and editor-in-chief of Network18 Group, made the announcement in an internal communication. “Mihir’s ability to build enduring brands, foster strategic partnerships and navigate a rapidly evolving media landscape will be instrumental as we continue to strengthen our position and explore new avenues of growth in the Studios business,” Joshi said.
In a media industry lurching between disruption and reinvention, Network18 has bet on a man who has spent two decades thriving in exactly that chaos. Whether he can do it again, at greater scale, is the question worth watching.
