TV18 Broadcast Q1 revenue up 33%, operating profit up 42%

Network18’s consolidated revenues for the June quarter rose 33 percent year-on-year to Rs 527.7 crore, the company said in a release Tuesday.

Quarterly operating profit rose 42 percent to Rs 18.2 crore, with the company attributing it to sustained growth in the Entertainment operations-led by Colours-and in the News operations-helped by the general elections.

[caption id=“attachment_86349” align=“alignleft” width=“380”]  The Network 18 logo[/caption]

The company launched CNBC Bajar-India’s first Gujarati language business channel on July 1, 2014. The company reported a loss before tax of Rs 214.2 crore due to one time exceptional adjustment of Rs 223.3 crore.

“The adjustments made by way of exceptional items to the profit & loss account for the quarter ended June 30, 2014, is based on a review of the current and non-current assets of the company. These adjustments reflect the diminution in the value of certain tangible and intangible assets as well as write-offs and provisions for loans and advances and receivables. These adjustments, however, will not impact future operating profits and cash flow of the business of the company and its subsidiaries,” the release said.

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Disclaimer: Reliance Industries has acquired management control of Network18, which publishes Firstpost and Firstbiz