Media firm TV18 Broadcast today reported a 89.87 per cent decline in consolidated net profit to Rs 8.39 crore for the fourth quarter ended March 31, 2017.
The company had registered a net profit of Rs 82.85 crore in the January-March quarter a year ago, TV18 Broadcast said in a BSE filing.
Its total income from operations during the quarter fell marginally by 1.5 per cent to Rs 297.67 crore compared to Rs 302.21 crore in the corresponding quarter of previous fiscal.
TV18 Broadcast's total expenses during the quarter was up at Rs 275.46 crore as against Rs 223.71 crore.
For FY 2016-17, the company's consolidated net profit slipped 90.18 per cent to Rs 19.07 crore as against Rs 194.38 crore in FY16.
Its total income from operations during the fiscal under review rose 6.62 per cent to Rs 1,022.74 crore compared to Rs 959.23 crore.
"Last year has been a period of flux for the media industry, and a tale of two-halves. Despite headwinds in the later part of the year, we have continued to grow," TV18 Broadcast Chairman Adil Zainulbhai said.
Shares of TV18 Broadcast fell 3.15 per cent to Rs 41.50 on BSE.
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