 "TV18 Broadcast dips post Q1 results")
Shares of TV18 Broadcast dipped 15% to Rs 36 on the NSE, in an otherwise strong market, after the company reported a sharp 75% year-on-year (YoY) decline in consolidated operating profit at Rs 11.80 crore for the quarter ended June 30, 2015 (Q1 FY16). The company had posted an operating profit of Rs 47.70 crore in the same quarter a year ago.
Loss before tax and before exceptional and prior period items stood at Rs 4.2 crore in the June quarter against a profit of Rs 9.10 crore in the corresponding quarter of previous fiscal.
Operating revenues on a consolidated basis stood at Rs 597 crore in Q1 FY16, up by 13% YoY from Rs 528 crore in Q1 FY15, TV18 Broadcast said in an earnings release.
The stock hit a high of Rs 43.50 and has seen a combined 36.34 million shares changing hands on the counter on the NSE and BSE.
At 03:16 PM, the stock was down 12% at Rs 37 on the NSE.
Loss before tax and before exceptional and prior period items stood at Rs 4.2 crore in the June quarter against a profit of Rs 9.10 crore in the corresponding quarter of previous fiscal.
Operating revenues on a consolidated basis stood at Rs 597 crore in Q1 FY16, up by 13% YoY from Rs 528 crore in Q1 FY15, TV18 Broadcast said in an earnings release.
The stock hit a high of Rs 43.50 and has seen a combined 36.34 million shares changing hands on the counter on the NSE and BSE.
At 03:16 PM, the stock was down 12% at Rs 37 on the NSE.