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New Delhi, July 27 Television Eighteen has reported a 31 per cent decline in net profit at Rs 2.93 crore for the first quarter ended June 30, as against Rs 4.27 crore reported during the corresponding quarter the previous year.

Net sales for the quarter were however up 63 per cent at Rs 52.30 crore (Rs 32.06 crore). The company’s expenditure also increased to Rs 40.28 crore (Rs 19.76 crore). Revenues from business news were up 44 per cent to Rs 57.92 crore.

“We are thrilled with this quarter’s performance. While our channels are scaling new heights in the business news space, the Internet properties under Web18 have started posting robust revenues. Newswire18 has expanded its network and is ahead of its business plan,” said Mr Raghav Bahl, Managing Editor, Television Eighteen in a statement from the company.

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