MUMBAI: News network TV18 has announced a net profit at Rs 193.2 million, for the quarter ended December 2006 as compared to Rs 399 million shown during the corresponding quarter in 2005, an increase of 51 per cent YoY.

TV18's consolidated revenues were up 67 per cent (YoY) at Rs 647.46 million.

Among the highlights of the quarter for TV18 were: scheme of arrangement completed; group company GBN's IPO gets huge investor response, while internet revenues continued to post robust growth, rising over 120 per cent from the corresponding quarter in 2005.

TV18 Consolidated Include revenues from CNBC-TV18, CNBC-Awaaz, moneycontrol.com, commoditiescontrol.com and various other Internet portals acquired by the company's subsidiaries during the year. Current quarter’s revenues and costs are strictly not comparable with the same quarter in the previous year, since revenues and costs of Awaaz are being included from last quarter onwards, the company stated in a footnote.