TV18 Broadcast tumbles after weak Q1FY17 results

TV18 Broadcast has declared its first quarter results on Wednesday. The company’s revenue has declined by 22.84 per cent to Rs 211 crore in Q1FY17 as compared to previous financial year. Its EBITDA has experienced a loss of Rs 19 crore in Q1FY17 against EBITDA loss of Rs 22 crore in Q1FY16. TV18 Broadcast has posted net loss of Rs 14.58 crore in Q1FY17 while net profit of Rs 8.46 crore in Q1FY16.

On segmental revenue front, TV18 Broadcast has earned 96.88 per cent from media operations and remaining 3.12 per cent from film production and broadcasting during Q1FY17.

The share price of TV18 Broadcast has dropped by 13.83 per cent on bourses after declaration of Q1FY17 results; and is trading at Rs 41.75 on an intraday basis.

TV18 Broadcast is an India-based television (TV) broadcast network. The company offers telecommunication, broadcasting and information supply services. It operates through segments, including broadcasting & content and film production & distribution. TV18 Broadcast offers news channels, such as CNBC-TV18, CNBC Awaaz, CNBC-TV18 Prime HD, CNN-IBN, IBN7, and IBN-Lokmat, a Marathi regional news channel. It manages and broadcasts the channel, History TV18. The company offers regional channels, such as ETV Urdu, ETV Rajasthan, ETV Bihar/Jharkhand and ETV MP/Chhattisgarh, among others. It also operates digital commerce properties, such as HomeShop18 and bookmyshow.com.