TV18 profit plunges 53%

Media firm TV18 Broadcast on Wednesday reported a 53 per cent drop in consolidated net profit to Rs 20.3 crore for the September quarter. The company had registered a net profit of Rs 43.2 crore in the same quarter of the previous financial year.

Total income from operations on consolidated basis during the quarter under review was up 9.90 per cent to Rs 608.53 crore as against Rs 553.67 crore in the year-ago period.

TV18 Broadcast's revenue from media operations segment was up 6.01 per cent to Rs 565.91 crore during the July-September quarter as against Rs 533.82 crore during the same quarter of 2014-15.

Revenue from film production and distribution segment jumped over twofold Rs 42.62 crore during the quarter under review as against Rs 19.85 crore in the year ago period.

Shares of TV18 Broadcast were trading at Rs 33.55, down 3.03 per cent in pre-close session on BSE.