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TV18 net profit down to Rs 5.2 crore in Q2 FY17

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TV18 net profit down to Rs 5.2 crore in Q2 FY17

TV18 Network has declared its Q2 17 results and reported a consolidated net profit of Rs 5.2 crore for July-September quarter against Rs 17.8 crore in the same period last year.

During this period, EBITDA loss (earnings before interest, tax, depreciation and amortisation) stood at Rs 11 crore in the quarter ended September 2016 against loss of Rs 9.1 crore in corresponding period last fiscal. Other income increased marginally to Rs 10.24 crore from Rs 10.02 crore in the same period last year.

Consolidated revenue during the quarter increased 5.3 per cent to Rs 239.8 crore from Rs 227.7 crore in year-ago period. The company said consolidated revenue (including proportionate share of joint ventures considered for segment reports) for the quarter ended September 2016 stood at Rs 653.5 crore against Rs 608.5 crore in corresponding quarter last year. It is a growth of 10 per cent after factoring in the change in status of Prism TV Private Limited (regional entertainment channels).

Film Production and Distribution segment reported 79.8 per cent y-o-y drop in revenue at Rs 8.60 crore in Q2-17 as compared to Rs 42.62 crore. The segment reported operating loss of Rs 2.90 crore as against an operating profit of Rs 1.90 crore in the quarter ended September 30, 2015.

Voot, the OTT platform launched in Q1FY17, garnered more than 10 million app downloads with over 15 million monthly active users across mobile and web. Hindi movie channel Rishtey Cineplex, which launched in May 2016, strengthened its position during the quarter.

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