TV18 Broadcast Q4 profit surges to Rs 142 cr

Media firm TV18 Broadcast Ltd on Thursday reported nearly five-fold jump in consolidated net profit to Rs 141.83 crore for the March quarter of 2019-20 financial year.

The company had posted a profit of Rs 29.90 crore for January-March 2018-19, TV18 Broadcast said in a regulatory filing.

Revenue from operations was up 20.60 per cent to Rs 1,424.93 crorefor the latest as against Rs 1,181.48 crore in the year-ago period.

Total expenses were at Rs 1,254.89 crore as against Rs 1,193.50 crore earlier.

The company said the outbreak of COVID-19 has no significant impact on its results.

The outbreak of Coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group has evaluated impact of this pandemic on its business operations and based on its review and current indicators of future economic conditions, there is no significant impact on its financial results," the company said.

On February 17, 2020, the TV18 Broadcast board had approved the scheme of amalgamation and arrangement between the company, Den Networks, Hathway, Network1 8 Media & Investments, Media18 Distribution, Web 18 and Digital18 Media, subject to necessary approvals.

Its consolidated net profit for 2019-20 was at Rs 416.71 crore, up 98.05 per cent from Rs 210.40 crore in 2018-19.

TV18 Broadcast's revenue from operations for the last financial year was up4.69per cent to Rs 5,174.94 crore as against Rs 4,942.70 crore in the previous year.

Shares of TV18 Broadcast settled at Rs 20.95 per scrip, up 2.20 per cent, on the BSE.