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Last Updated : Jan 15, 2020 12:41 PM IST | Source: Moneycontrol.com

Network18 Q3 profit grows 92% to Rs 148 cr, EBITDA rises 3-fold

Operating expenses dipped 14.5 percent year-on-year to Rs 1,305 crore in Q3, due to fall in operational cost; marketing, distribution and promotional expenses; employee cost; and other expenses.

Network18 Media & Investments has reported a 92.2 percent year-on-year growth in consolidated profit on strong operating income.

Profit after tax increased to Rs 148 crore in Q3, from Rs 77 crore in corresponding period last fiscal. In fact, the company turned profitable for the quarter as it had registered a loss of Rs 25 crore in September quarter.

Operating revenue during the quarter fell 3.3 percent to Rs 1,474 crore compared to same period previous year.

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Consolidated operating earnings before interest, tax, depreciation and amortisation (EBITDA) shot up significantly to Rs 268 crore in Q3FY20, which was a 3-fold increase over Rs 88 crore in year-ago quarter due to lower expenses.

Operating expenses dipped 14.5 percent year-on-year to Rs 1,305 crore in Q3, due to fall in operational cost; marketing, distribution and promotional expenses; employee cost; and other expenses.

The stock was locked at the upper end of the 5 percent intra-day circuit filter at Rs 28.20 on the BSE. It has rallied 40 percent in last three months.

Disclaimer: Reliance Industries owns Network 18 which publishes Moneycontrol.com.
First Published on Jan 14, 2020 05:05 pm
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