TV 18 declares good numbers, heavy profit booking witnessed

Media firm TV 18 Broadcast (TV 18) announced its nine month ending quarterly results on Friday. The operating revenue and net profit of company surged by 14 per cent and 29.66 per cent year on year (YoY) respectively.

TV18 Broadcast Ltd. is a broadcast network which offers telecommunication; broadcasting; and information supply services. It operates through segments, including broadcasting and content, and film production and distribution. The broadcasting and content segment consists of television content and airtime sales.

On financial front the consolidated net revenue from operations of TV 18 reached Rs 692 crores in Q3FY16 compared to Rs 607 crores in Q3FY15, an increase of 14 per cent year on year (YoY). The EBITDA stood at Rs 104 crores this quarter compared to Rs 79.38 crores in Q3FY15, an increase of 30.86 per cent YoY. The EBITDA margin of company stood at 15 per cent this quarter compared to 13.07 per cent in Q3FY15. The net profit stood at Rs 78.29 crores in Q3FY16, compared to Rs 60.38 crores in Q3FY15,an increase of 29.66 per cent YoY. The other income of company increased by 197 per cent this quarter from Q2FY15. From 4 crores it became 11 crores this quarter.

The nine month ending consolidated net revenue from operations increased by 12.37 per cent and reached Rs 1898 crores compared to Rs 1689 crores for the corresponding review period last year. The EBITDA stood at Rs 1744.42 crores, an increase of 16 per cent. The net profit for nine month period stood at Rs 9851 crores, compared to a loss of Rs 5094 crores, for the corresponding review period last year. The 9M FY16 was significantly influenced by advertisement income on account of the General Elections and the Union Budget.

However the scrip fell 10 per cent after the results to Rs 41, as investors started booking profits in the overall falling market.