Earnings: TV18 Broadcast Q3 profit rises 17 percent

New Delhi: TV18 Broadcast Ltd today reported a 16.83 percent increase in its consolidated net profit at Rs 60.37 crore for the third quarter ended 31 December 2014.

The company had reported a consolidated net profit of Rs 51.67 crore during the October-December quarter last fiscal. Total income from operations during the quarter rose 15.55 per cent to Rs 607.23 crore as against Rs 525.47 crore during the same period a year ago.

Overall expenses of the company stood at Rs 542.28 crore as compared to Rs 460.12 crore in the corresponding period last fiscal.

During the quarter, TV18 Broadcast’s revenue from media operations were at Rs 605.15 crore as compared with Rs 503.58 crore in the third quarter of the previous financial year. Revenue from film production and distribution in the quarter under review declined to Rs 11.99 crore as against Rs 35.53 crore in the same period a year ago.

Independent Media Trust, controlled by Reliance Industries, acquired controlling stakes in the company with effect from 7 July 2014.

Shares of TV18 Broadcast ended the day down 0.17 percent at 29.25 a piece on the BSE.

PTI

Disclosure: Network 18, which publishes Firstpost is part of the Reliance Group