Network 18, the holding company of the TV18 group and TV18 that operates its two business news channels, CNBC TV 18 and CNBC Awaaz, has shown impressive figures in its first quarter financial results. It has registered an operating profit of Rs 84.21 million with an operating margin of 8.71 per cent.
The operating profit rose by 56 per cent on a YoY basis with the business news operations, while the revenues are up by 44 per cent at Rs 579.23 million. Newswire 18’s revenues increased by more than 70 per cent on a QoQ basis. Its total revenues have surged to Rs 681.57 million, while its business news operations have maintained their number one position in its genre. CNBC TV 18 and CNBC Awaaz have together led the business news genre with over two-thirds of the market share.
Following the meeting of the Sub-Committee of the Board of Directors, Raghav Bahl, Managing Director, TV18, said, “We are thrilled with this quarter’s performance. While our channels are scaling new heights in the business news space, the Internet properties under Web18 have begun to post robust revenues. Newswire18 has expanded its network and is ahead of its business plan.” Bahl also lauded the overall performance of the Group’s holding company Network 18.