Latest News | TV18 Broadcast Posts Q1 Net Profit of Rs 162 Cr

New Delhi, Jul 20 (PTI) Media firm TV18 Broadcast Ltd on Tuesday reported a consolidated net profit of Rs 162.44 crore for the first quarter ended June 2021.

The company had posted a net profit of Rs 1.88 crore for the April-June period of the previous fiscal, TV18 Broadcast said in a regulatory filing.

Its revenue from operations rose 48.85 per cent to Rs 1,154.98 crore as against Rs 775.93 crore in the corresponding quarter a year ago.

TV18 Broadcast Chairman Adil Zainulbhai said led by the many learnings from the past year and a responsibility to serve the Indian audience, the company has been able to continue its businesses relentlessly and profitably.

"While advertising hit a speed-breaker (primarily in entertainment), growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment," he added.

TV18 Broadcast's total expenses were at Rs 1,006.07 crore, up 25.88 per cent from Rs 799.20 crore in the year-ago period.

On the outlook, Zainulbhai said, "We continue to invest to ramp up offerings on our class-leading digital platforms. At the same time, we are selectively creating segmented offerings to enhance our TV portfolio in a capital-efficient manner."

Shares of TV18 Broadcast Ltd on Tuesday settled at Rs 40.85 on BSE, down 1.21 per cent from the previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)