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Media firm TV18 Broadcast today reported a decline of 71.03 per cent in consolidated net profit to Rs 5.15 crore for the second quarter ended on September 30, 2016.
The company had registered a net profit of Rs 17.78 crore in the July-September quarter in the previous fiscal, TV18 Broadcast said in a BSE filing.
However, its total consolidated income during the quarter under review was up 5.33 per cent to Rs 239.82 crore as against Rs 227.68 crore of the corresponding quarter of the last fiscal.
Total expenses during the quarter were up 6.86 per cent at Rs 262.56 crore as against Rs 245.69 crore.
Commenting on the outlook, TV18 Broadcast Chairman Adil Zainulbhai said: "We are positive that our aggressive investments into upgrading and expanding our bouquet across information as well as entertainment shall boost revenue growth and drive profitability in due course".
Shares of TV18 Broadcast today settled at Rs 43.70 on BSE, down 6.82 per cent from previous close.