Media firm TV18 Broadcast today reported an 8.1 per cent decline in consolidated net profit at Rs 15.87 crore for the quarter ending December mainly due to higher tax expenses.
The company had posted a net profit of Rs 17.27 crore during the same period previous fiscal, TV18 Broadcast said in a regulatory filing.
Total income during the quarter under review grew 8.88 per cent to Rs 277.37 crore as against Rs 254.73 crore in the October-December quarter previous fiscal.
"With the growth in regional and other niche channels, we are well positioned to continue growth in entertainment. We continue to invest in all aspects of the media business," TV18 Broadcast Chairman Adil Zainulbhai said.
Total expenses during the quarter stood at Rs 260.91 crore as against Rs 238.41 crore in the year ago period.
Total tax expenses during the period were Rs 19.23 crore compared to Rs 6.11 crore in the corresponding period previous fiscal.
TV18 Broadcast stock was trading 5.29 per cent down at Rs 61.75 on BSE.
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