TV18 Broadcast Q2 profit doubles to Rs 231 crore

TV18 Broadcast Ltd on Tuesday reported over two-fold increase in consolidated net profit at Rs 231.40 crore for the second quarter ended September 30, 2021.

The company had clocked a net profit of Rs 115.55 crore in the year-ago period, the media firm said in a regulatory filing.

Consolidated revenue from operations was up 29.14 per cent to Rs 1,307.90 crore in the quarter under review as against Rs 1,012.80 crore in the year-ago period.

“Consolidated EBITDA for the quarter grew 53 per cent YoY, operating margin at 18.2 per cent,” the company said in a post earning statement adding that both News and Entertainment businesses further improved profitability.

Total expenses in the quarter were at Rs 1,104 crore, up 21.34 per cent as against Rs 909.82 crore.

TV18 Broadcast Chairman Adil Zainulbhai said the quarter was quite remarkable, both from a macro as well as the company’s point of view.

The outlook, he said, is looking quite promising from a medium-term perspective and this is a good news for the consumer-facing businesses.

“With expansion into sports genre, we have taken a significant step towards scaling up our entertainment portfolio to the next level. This will help establish us as a truly integrated media company across broadcast, OTT and content studio business spanning general entertainment, news, movies and sports,” said Zainulbhai.

Shares of TV18 Broadcast on Tuesday settled at Rs 46.15 apiece on BSE, down 1.18 per cent.

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