TV18 records US$97MN as Q3 net profit rises 16.83%

DetailsRebecca Hawkes | 15 January 2015

Indian network TV18 Broadcast Ltd has reported a 16.83% increase in consolidated net profit to INR6.037 billion (US$97 million) for the third quarter ending 31 December 2014.

The company's consolidated net profit in the corresponding period of 2013 was INR5.167 billion.

Total operational income rose 15.55% to INR60.723 billion in Q3 2014-15 from INR52.547 billion in the same quarter of financial year 2013-14.

Company expenses were recorded at INR54.228 billion for the quarter, compared with INR50.358 in the same period of the previous year.

TV18 said its business news channel CNBC-TV18 maintained a leading position for the genre with a market share of 55% in Q3 2015. Hindi business news channel CNBC Awaaz had a market share of 61% in the quarter, while its six-month-old Gujarati channel CNBC Bajar grew its viewer base by 182% on Q2. CNN-IBN was the second most popular English news channel with a 25% market share, said the company.

TV18's Hindi general entertainment channel Colors claimed second place with a market share of 19% in the quarter, ending 31 December 2014, while TV18 said its regional news and entertainment group of ETV branded channels also performed well.

The Reliance Industries-controlled Independent Media Trust acquired controlling shares in TV18 with effect from 7 July 2014.