Global Broadcast News (GBN) Ltd has posted a net profit of Rs 1.78 crore for the third quarter ended December 31, 2007 as compared to a loss of Rs 9.01 crore during the corresponding quarter of the last fiscal.
EBIDTA is at Rs 10 crore as compared to a loss of Rs 3.8 crore in Q3 FY08. GBN’s revenues grew from Rs 25.2 crore to Rs 38.7 crore YoY. The operating profit stood at Rs 10.3 crore for Q3 FY08 as compared to Rs 3.8 crore during the same quarter of the previous fiscal.
Following a meeting of the Board of Directors, Sameer Manchanda, Joint Managing Director, Global Broadcast News, said, “This quarter, GBN acquired interest in the non-news (Entertainment) space through Viacom18, which will make GBN a fully integrated broadcasting player with leading brands across genres. CNN-IBN and IBN7 are leading brands in news, MTV and Vh1 hold leadership positions in music, Nickelodeon is rated as one of the most sticky kid’s channel, while Studio18 distributed two of the most successful films of 2007. This quarter, CNN-IBN received two of the most prestigious television awards (Indian Telly Awards and Indian Television Academy Awards) for the ‘Best English News Channel’.”
Studio18, also a Viacom18 division, began distribution operations with films like ‘Jab We Met’ and ‘Welcome’. Aggressive investments had been made in regional news channels, the Group’s first Marathi news channel is set to be launched in the next quarter.