TV18 Broadcast’s net profit falls 17.4% to Rs 311.5 crore in Dec quarter
19/01/2022
Mumba, jan 18: Media firm TV18 Broadcast Ltd on Tuesday reported a 17.4 per cent drop in its consolidated net profit to Rs 311.55 crore for the third quarter ended December 2021.
The company had posted a net profit of Rs 377.20 crore for the October-December period of the previous fiscal, TV18 Broadcast said in a regulatory filing. However, its consolidated revenue from operations during October-December 2021 jumped 15.15 per cent to Rs 1,567.08 crore, against Rs 1,360.95 crore in the year-ago period. TV18 Broadcast's Ebitda (earnings before interest, taxes, depreciation and amortisation) stood at Rs 355.59 crore, which is the "highest ever", the company said in a post-earnings statement.
"Not only did the news business sees a sharp improvement in profitability but the entertainment business also continued to deliver strong margins," it added. It continued revenue growth momentum during the quarter as it also reported its "highest-ever quarterly revenue" despite the pandemic-induced headwinds faced by the movie business, TV18 Broadcast said. TV18 Broadcast's total expenses in the December 2021 quarter stood at Rs 1,249.44 crore, a 14.24 per cent jump as against Rs 1,093.74 crore a year ago. Its Chairman Adil Zainulbhai said the company is "building a strong and sustainable media franchise", which not only delivers quality content to the Indian audience but also value to the shareholders.
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