Network18 Media and Investments announced its consolidated Q3 results on January 27, 2011. The company’s consolidated net profit increased to Rs 82.77 crore for the third quarter ended December 31, 2010, as against a net loss of Rs 54.51 crore for the same period last fiscal.
The company’s revenue stood at Rs 405.58 crore for the reported quarter as against Rs 370.11 crore for Q3 FY10. Network18 profit for the quarter included a one-time gain of Rs 95.14 crore from the acquisition of The Indian Film Company (TIFC).
The company’s revenues from Television18 India were recorded at Rs 147 crore, while IBN18 registered revenue of Rs 236 crore for the reported quarter. Revenues from Homeshop18, TIFC and others stood at Rs 52 crore.