TV18 Q1 FY15 revenues up 33% YoY at Rs 527.7 crore
TV18 Broadcast has reported 42 per cent growth in its operating profit to Rs 18.2 crore, driven by sustained growth in the Entertainment operations, led by Colors and growth in the News operations
TV18 Broadcast has reported growth in operating profitability for the first quarter ending June 30, 2014. Consolidated quarterly operating revenues were up 33 per cent YoY at Rs 527.7 crore.
Reported quarterly operating profit was up 42 per cent to Rs 18.2 crore, driven by sustained growth in the Entertainment operations; led by Colors and growth in the News operations aided by the General Elections. The company launched its Gujarati language business channel, CNBC Bajar, on July 1, 2014.
Consolidated PBT before exceptional items stood at Rs 9.11 crore in Q1 FY15.
Loss before tax for the quarter ended June 30, 2014 was reported at Rs 214.2 crore after considering one-time exceptional adjustments of Rs 223.3 crore. The adjustments made by way of exceptional items to the P&L account for Q1 FY15 is based on a review of the current and non-current assets of the company. These adjustments reflect the diminution in the value of certain tangible and intangible assets as well as write-offs and provisions for loans and advances and receivables. These adjustments, however, will not impact future operating profits and cash flow of the business of the company and its subsidiaries.
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