Business Daily from THE HINDU group of publications
Saturday, Jul 29, 2006
Business Daily from THE HINDU group of publications Saturday, Jul 29, 2006 |
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Corporate Results
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Radio/TV TV18 Q1 net rises 47.3% to Rs 11.77 cr Our Bureau
Mumbai , July 28 Television Eighteen Group has posted a 47.3-per cent increase in net profit for the first quarter over the corresponding previous quarter. The net profit after deferred tax was at Rs 11.77 crore vis-à-vis Rs 7.98 crore. The company's operating profit stood at Rs 21.38 crore against Rs 13.64 crore. According to a press release, all the TV18 channels (CNBC, Awaaz, CNN-IBN and Channel 7 have recorded a 100 per cent growth in revenues over last year. The release claims that Channel 7, which was re-launched recently has already garnered a 11 per cent share in the Hindi news segment. "The TV18 Network has firmly established itself as the nation's largest and most credible news source on television and the Internet. The network has become the prime source of news for Indian audiences in times of crisis. We continue to build on the base of the over 70 million viewers we attract across the network's four news channels. "Our revenues continue to show robust growth and we expect to benefit significantly from the increase in distribution platforms for our services via DTH, broadband, digital cable and mobile," said Mr Raghav Behl, Managing Director, TV18. The TV18 share closed up at Rs 601.
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