Network18 Media & Investments Q3 net profit at Rs 11.43 cr

Network18 Media & Investments today reported a consolidated net profit of Rs 11.43 crore in the third quarter ended December 31, 2017.
The company had posted a consolidated net loss of Rs 77.82 crore in the year-ago period, Network18 Media & Investments said in a BSE filing.
Total income during the quarter under review stood at Rs 439.23 crore as against Rs 353.42
crore in the same quarter previous year, it added.
During the quarter, advertising growth returned led by recovery in ad-environment and a favourable base from mid- November, it said. However, certain segments were still to see full recovery.

"Tailwinds of strong financial markets, upcoming union budget, state elections and continued revival in consumer spending are positives," it added.

Network18 Chairman Adil Zainulbhai said the company has made a lot of progress in strengthening its digital properties, and growing position in TV in news and entertainment.
"We will continue to invest across broadcasting and digital," he added.
Shares of Network18 Media & Investments were trading at Rs 56.85 apiece, down 6.73 per cent from the previous close on BSE.