TV18 Broadcast Ltd has posted a consolidated net profit of Rs 5.93 crore for the first quarter ended June 30, 2013. The company had a consolidated net loss of Rs 23.45 crore in the same period of the previous fiscal, TV18 Broadcast said in a filing to the BSE today.

Consolidated income from operations stood at Rs 403.17 crore during the April-June quarter compared with Rs 356 crore in the same period of the previous fiscal.

Consolidated revenue from media operations was Rs 383.39 crore against Rs 329.96 crore and consolidated revenue from film production and distribution also increased to Rs 18.79 crore from Rs 16.92 crore.

According to the company, its advertising revenue grew 6 per cent to Rs 227.5 crore from Rs 215.6 crore.

“The macroeconomic environment continues to be challenging and growth prospects remain uncertain. Given this backdrop, our broadcasting operations turned in a steady performance aided by the rollout of digitisation in 42 cities,” Network18 Managing Director Raghav Bahl said.

He further added: “However, there were pockets of weakness and we are committed to improving segments that are not meeting expectations.”

TV18 Broadcast Group CEO B. Saikumar said the company’s motion pictures has seen losses this quarter and the management is confident of stemming them in the immediate term.

“While our news and infotainment businesses have seen distinct softness in advertising, our entertainment businesses led by Colors have performed well on this front. Net distribution revenues from IndiaCast are on a strong growth trajectory and we continue to be enthused by its growth potential,” Saikumar added.

The company’s shares closed at Rs 18.650 on the BSE, down 6.05 per cent from previous close.

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