TV18 has posted a net profit of Rs 10 crore in the fourth quarter of 2004-05, an increase of 90 per cent over the Rs 5.2 crore in the same period of the previous fiscal year. The company's Q4 revenues showed an increase of 87 per cent at Rs 31.9 crore, up from Rs 17.1 crore in Q4 of the previous fiscal.
A TV18 release also stated that as per unaudited figures, the company's annual net profit stood at Rs 31.4 crore for fiscal 2004-05, a 170 per cent increase from last year's Rs 11.6 crore. The annual revenue increased this fiscal to Rs 93.4 crore from Rs 53.7 crore last year.
The board declared a second interim dividend of 10 per cent (Re 1 face value), making a total interim dividend of 20 per cent for the year.
Said Raghav Bahl, Managing Director, Television Eighteen, "This quarter has been extraordinarily robust for the company, with strong revenues for CNBC-TV18. Awaaz too has shown rapid growth in viewership and is gaining ground every week."
The release claimed that TV18 has become India's largest business and consumer news network with the launch of Awaaz, which has "become the fastest growing channel today". Referring to TV18's much talked about collaboration with former NDTV Managing Editor Rajdeep Sardesai and CFO Sameer Manchanda, Bahl said, "We are also very excited by our foray into the general news space with a very competent and proven team including Rajdeep Sardesai and Sameer Manchanda, and hope to be a dominant player in this genre."