TV18 Broadcast's Q1 net profit at Rs.9 crore

Media and entertainment major TV18 Broadcast on Wednesday reported a net profit of Rs.8.86 crore for the quarter ended June 30, 2015, from a net loss of Rs.109.06 crore for the corresponding period of last fiscal.

According to the company, its board of directors appointed Adil Zainulbhai, as its chairman in place of Manoj Mohanka.

Mohanka, however, will continue to serve as a non-executive independent director on the board. Other members of the board include non-executive director Rohit Bansal and Raghav Bahl.

Meanwhile, the company's total income during the quarter under review fell by 6.63 percent to Rs.132.15 crore from Rs.141.55 crore for the similar quarter ended June 30, 2014.

The company further reported a consolidated net loss which stood at Rs.0.04 crore for the quarter ended June 30, 2015, from a net loss of Rs.154.54 crore during the corresponding period of last fiscal.

The total income during the period under review increased by 13.37 percent to Rs.604.92 crore from Rs.533.56 crore for the similar quarter ended June 30, 2014.

The company's scrip at the Bombay Stock Exchange (BSE) fell by 12.31 percent or 5.20 points at Rs.37.05 from its previous close of Rs.42.25 per equity share.