Moneycontrol Bureau
TV18 Broadcast's third quarter net profit grew by 16.8 percent to Rs 60.4 crore, supported by exceptional income and lower finance cost. Profit in the year-ago period was Rs 51.7 crore.
Consolidated revenue rose by 15.6 percent to Rs 607 crore during the quarter from Rs 525 crore in same quarter last fiscal. "Revenue from media operations increased to Rs 605.15 crore from Rs 503.6 crore while film production and distribution revenue declined to Rs 11.99 crore from Rs 35.53 crore on year-on-year basis," said the company in its filing.
Exceptional income included reversal of provision for doubtful advances to the extent of Rs 5.3 crore. In Q3FY15, finance cost dropped to Rs 10.14 crore from Rs 17.1 crore while tax cost increased to Rs 10.56 crore from Rs 3.08 crore year-on-year.
Meanwhile, the board of directors of the company today approved the appointment of Rohit Bansal as an additional non-executive director on the board.
At 14:06 hours IST, the stock was quoting at Rs 29.15, down Rs 0.15, or 0.51 percent on the BSE.
Disclaimer: Moneycontrol.com and TV18 Broadcast are both part of the Network 18 Group that owned by Reliance Industries.
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