TV18 Broadcast Q3 net profit up 40 pc at Rs 205 cr

Media firm TV18 Broadcast on Tuesday reported a 39.60 per cent rise in its consolidated net profit at Rs 205.16 crore for the quarter ended December 31, 2019.

The company had posted a net profit of Rs 146.96 crore for the corresponding period of the previous fiscal, TV18 Broadcast said in a regulatory filing.

Consolidated revenue from operations of the company stood at Rs 1,425.37 crore for the quarter under consideration, as against Rs 1,474.70 crore a year ago.

"Our emphasis on delivering value to the consumer, expanding the partner ecosystem and raising profitability were the primary milestones during the past quarter," TV18 Chairman Adil Zainulbhai said.

Amidst a difficult ad-environment and continued regulatory flux, the rise in rankings for flagship channels is a positive indicator for the future, he added.

"We are constantly adjusting our programming and business model for the continual technology, consumer and regulatory changes in the business," Zainulbhai said.

Shares of TV18 Broadcast Ltd were trading at Rs 27.20 per scrip on BSE, up 9.46 per cent from its previous close.