MUMBAI: Television18, the company that houses business news channels CNBC-TV18 and CNBC Awaaz, has posted a better third-quarter result due to an upswing in revenues.
For the three months ended December, TV18 has posted a standalone net profit (after tax and minority interest, before ESOP charge out) of Rs 120 million compared to a net loss of Rs 150 million in the previous year quarter. The company had posted a net profit of Rs 90 million in the trailing quarter.
Revenue from news operations at Rs 790 million stands 17.91 per cent higher than the year-ago period. For the trailing quarter, TV18‘s standalone revenue was at Rs 680 million.
Operating expenses for the quarter stood at Rs 560 million (from Rs 510 million a year ago). However, it is much higher than the trailing quarter, which was at Rs 470 million.
Meanwhile, TV18 improved its operating margins to 29 per cent from prior year’s 25 per cent.
On a consolidated basis, TV18, which also includes financials of Web18,
Infomedia18 and Newswire18, has posted a net profit (after tax and minority interest, before ESOP charge out) of Rs 80 million. For the same quarter of the previous year, the net loss stood at Rs 400 million.
Revenue from consolidated operations went up to Rs 1.47 billion as compared to Rs 1.29 billion a year ago. Expenses stood at Rs 1.27 billion, from Rs 1.20 billion in the earlier year.
Meanwhile, Web18, the subsidiary that houses all the websites of the group, has seen operational breakeven in the quarter under review. The revenue from operations grew to Rs 220 million, while expenses also remained at 220 million.
In Infomedia18, the net loss for the quarter stood at Rs 70 million, down from Rs 90 million in the corresponding quarter of previous fiscal.
Revenue jumped to Rs 360 million (from Rs 330 million), while expenses stood at Rs 410 million, from Rs 380 million a year ago.
In Newswire18, revenue rose to Rs 100 million, from Rs 80 million a year ago. The company did not disclose net profit (or loss) of the segment. The expenses were at Rs 90 million while operating profit was at Rs 20 million.
