TV18 Broadcast Ltd Tuesday reported a consolidated net profit of Rs 23.17 crore in the first quarter ended June 30.
The company had reported a net loss of Rs 6.82 crore in the April-June 2018 quarter, TV18 Broadcast said in a BSE filing.
Its revenue from operations was up 10.04 per cent to Rs 1,197.51 crore as against Rs 1,088.19 crore in the corresponding period of the previous financial year.
"(First quarter) revenues grew 10 per cent year-on-year amidst a weak advertising environment, led by election advertising and strong growth in subscription income post implementation of new tariff order (NTO)," the company said in a statement.
Its total expenses stood at Rs 1,199.66 crore, up 9.06 per cent as compared with Rs 1,099.90 crore in the year-ago quarter.
TV18 Chairman Adil Zainulbhai said, "Our channel brands have witnessed a strong uptake in the new tariff regime which places the consumer even more at the centre of the broadcasting business model."
Shares of TV18 Broadcast Ltd on Tuesday settled at Rs 23.20 on the BSE, down 1.28 per cent from the previous close.
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