Television Eighteen has released its quarter results for 2006-07. While TV18 posts robust growth in business news, its revenues have increased by 48 per cent to Rs 719 million, profits have surged by 32 per cent to Rs 375 million, and pre-tax earnings in business news have jumped by 26 per cent.
Following the meeting of the Sub-committee of the Board of Directors, Raghav Bahl, Managing Director, TV18, said, “We are extremely happy with this quarter’s performance. Our channels are maintaining their pole position in the business news space and we continue to increase the width and depth of our offering via Newswire18. Web18 continues to show impressive revenue growth and has entered investment mode as we scale up our ambitions on the Internet.”
The Web18 revenues have grown by 75 per cent, and the highlights of this quarter’s results include revenues surging in news, Internet and software to Rs 803.8 million; Business News Operations maintaining a stronghold in the leadership position. CNBC-TV18 and CNBC-Awaaz together dominate the business news genre with over 73 per cent market share. The group also launched Newswire18, a real-time news and market data platform.