TV18 Broadcast share price jumps over 6% as operating profit quadruples
TV18 Broadcast Q1: Consolidated profits after tax jumped significantly to Rs 162 crore driven by the strong operating performance. In the year ago quarter, it was Rs 2 crore.
July 22, 2021 / 10:42 AM IST
TV18 Broadcast share price jumped over 6 percent intraday on July 22 a day after the company posted numbers for the quarter ended June 2021.
The company's operating profit quadrupled from a year ago for the quarter ended June 2021 driven by a concerted thrust on original content production in the entertainment segment and a resilient TV news business.
Its operating margin increased to 16.2 percent, its highest ever in the June quarter, compared to 5.7 percent a year ago.
Consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) increased to Rs 188 crore for the quarter ended June 2021 compared to Rs 44 crore a year ago.
The first quarter of FY21 was affected by COVID; however, a comparison with the June 2020 quarter also shows a 142 percent increase in operating profits.
The company reported consolidated revenue from operations of Rs 1,155 crore in Q1FY22, up 49 percent compared to Rs 776 crore in same quarter last fiscal year.
Consolidated profits after tax jumped significantly to Rs 162 crore driven by the strong operating performance. In the year ago quarter, it was Rs 2 crore.
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"News genre viewership jumped 28 percent QoQ led by the second wave and multiple state and elections. The salience and resilience of our fully-pay news-network shone through," TV18 said.
Entertainment viewership also grew 8 percent QoQ, some of which was contributed by sports. Pay-GEC viewership also grew in single digits across both Hindi and Regional as original programming continued unabated to a large extent, it added.
At 09:37 hrs TV18 Broadcast was quoting at Rs 41.95, up Rs 1.10, or 2.69 percent on the BSE.Disclaimer: TV18 Broadcast is a subsidiary of Network18 Media & Investments Ltd which publishes Moneycontrol.