TV18 Q2 Results: Net profit up over two-fold to Rs 115 crore
Chairman Adil Zainulbhai says company's broadcasting businesses have recovered from the impact of the COVID-19 pandemic to a "very large degree"
TV 18 Broadcast Limited on Tuesday declared its financial results for the quarter and half year ended 30th September 2020
The company reported a consolidated net profit of Rs 115 crore in the quarter ended September 30. The consolidated net profit of Rs 46 crore in the July-September quarter last fiscal.
The company’s consolidated revenue, however, dipped to Rs 1013 crore in the quarter this fiscal, compared to Rs 1127 in the July-September quarter last fiscal.
Total expenses were Rs 910 core compared to Rs 1104 a year ago.
Talking about the results, TV18 Broadcast Chairman Adil Zainulbhai said the company's broadcasting businesses have recovered from the impact of the COVID-19 pandemic to a "very large degree".
“TV18’s broadcasting businesses have recovered from the impact of the COVID-19 pandemic to a very large degree. Our proactive measures on cost-control have resulted in much-improved profitability across both News and Entertainment, despite certain market segments still suffering from pressures due to the Coronavirus. We have ensured business continuity through rejigging processes, innovatively revived alternative revenue streams, and focusing on aligning content distribution strategy with market opportunity. As we head into festive season, the underlying trends on both viewership and monetization are supportive,” Zainulbhai said.
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