Media firm Network18 Media and Investments today said its consolidated net profit has increased to Rs 82.77 crore for the quarter ended December 31, 2010.
This is against a net loss of Rs 54.51 crore for the same period last fiscal, Network18 said in a filing to the Bombay Stock Exchange (BSE).
Its revenue stood at Rs 405.58 crore for the reported quarter as against Rs 370.11 crore for Q3 FY10.
Network18 profits for the quarter include a one-time gain of Rs 95.14 crore from the acquisition of The Indian Film Company (TIFC), it added.
"Quarter III is traditionally a strong quarter for us and this year our various businesses performed well on all parameters –- advertising revenues, profit margins and market share. We expect this growth trajectory to be further strengthened over the next year by the expected uptick in our subscription revenues," Network18 Group CEO Haresh Chawla said.
The company's revenues from Television18 India stood at Rs 147 crore, while that of ibn18 stood at Rs 236 crore for the reported quarter. Revenues from Homeshop18, TIFC and others stood at Rs 52 crore.
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