TV18 Broadcast posts Q1 net profit of Rs 162 cr

Media firm TV18 Broadcast Ltd on Tuesday reported a consolidated net profit of Rs 162.44 crore for the first quarter ended June 2021.The company had posted a net profit of Rs 1.88 crore for the April-June period of the previous fiscal, TV18 Broadcast said in a regulatory filing.Its revenue from operations rose 48.85 per cent to Rs 1,154.98 crore as against Rs 775.93 crore in the corresponding quarter a year ago.

Media firm TV18 Broadcast Ltd on Tuesday reported a consolidated net profit of Rs 162.44 crore for the first quarter ended June 2021.

The company had posted a net profit of Rs 1.88 crore for the April-June period of the previous fiscal, TV18 Broadcast said in a regulatory filing.

Its revenue from operations rose 48.85 per cent to Rs 1,154.98 crore as against Rs 775.93 crore in the corresponding quarter a year ago. TV18 Broadcast Chairman Adil Zainulbhai said led by the many learnings from the past year and a responsibility to serve the Indian audience, the company has been able to continue its businesses relentlessly and profitably.

''While advertising hit a speed-breaker (primarily in entertainment), growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment,'' he added.

TV18 Broadcast's total expenses were at Rs 1,006.07 crore, up 25.88 per cent from Rs 799.20 crore in the year-ago period.

On the outlook, Zainulbhai said, ''We continue to invest to ramp up offerings on our class-leading digital platforms. At the same time, we are selectively creating segmented offerings to enhance our TV portfolio in a capital-efficient manner.'' Shares of TV18 Broadcast Ltd on Tuesday settled at Rs 40.85 on BSE, down 1.21 per cent from the previous close.