TV18 Broadcast Q4 profit surges nearly five-fold to Rs 142 cr; revenue from operations up 21% to Rs 1,425 cr

New Delhi: Media firm TV18 Broadcast Ltd on Thursday reported nearly five-fold jump in consolidated net profit to Rs 141.83 crore for the March quarter of 2019-20 financial year. The company had posted a profit of Rs 29.90 crore for January-March 2018-19, TV18 Broadcast said in a regulatory filing. [caption id=“attachment_4421369” align=“alignleft” width=“380”] File image of the CNBC-TV18 logo. Image courtesy - Twitter at CNBCTV18Live[/caption] Revenue from operations was up 20.60 percent to Rs 1,424.93 crore for the latest quarter as against Rs 1,181.48 crore in the year-ago period. Total expenses were at Rs 1,254.89 crore as against Rs 1,193.50 crore earlier. The company said the outbreak of COVID-19 has no significant impact on its results. “The outbreak of coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group has evaluated impact of this pandemic on its business operations and based on its review and current indicators of future economic conditions, there is no significant impact on its financial results," the company said. On 17 February 2020, the TV18 Broadcast board had approved the scheme of amalgamation and arrangement between the company, Den Networks, Hathway, Network18 Media & Investments, Media18 Distribution, Web 18 and Digital18 Media, subject to necessary approvals. Its consolidated net profit for 2019-20 was at Rs 416.71 crore, up 98.05 percent from Rs 210.40 crore in 2018-19. TV18 Broadcast’s revenue from operations for the last financial year was up 4.69 percent to Rs 5,174.94 crore as against Rs 4,942.70 crore in the previous year. Shares of TV18 Broadcast settled at Rs 20.95 per scrip, up 2.20 percent, on the BSE. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)