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TV18’s Q3 news biz net up 35.8% to Rs 45.51 cr

MUMBAI: TV18’s news broadcasting business has posted a net profit of Rs 45.51 crore (Rs 455.15 million) during the quarter ended 31 December 2015, marking a 35.8 per cent jump over its net profit of Rs 33.52 crore (Rs 335.18 million) during the corresponding quarter of the previous fiscal.

Total income from operations in the news segment stood at Rs 170.26 crore (Rs 1.70 billion) in the fiscal third quarter, up 13.9 per cent from Rs 149.52 crore (1.5 billion) a year ago.

Expenses, meanwhile, saw a moderate 6.4 per cent increase to Rs 127.12 crore (Rs 1.27 billion), as against Rs 119.47 crore (Rs 1.2 billion) in the earlier year.

Marketing, distribution and promotional expenses (mainly carriage) marginally fell on a quarter-on-quarter as well as year-on-year basis. It dropped from Rs 25.77 crore (Rs 257.7 million) in Q3FY15 to Rs 23.21 crore (Rs 232.06 million) in the quarter under review. In the trailing quarter (Q2FY16), it stood at Rs 24.21 crore (Rs 242.1 million).

The month of December saw CNN-IBN celebrate its 10th anniversary. On this special occasion, the channel did a host of special shows along with special commemorative promos capturing the channel’s highpoints during the last 10 years.

The channel was also recognised for its programming and content, and bagged three awards at the Ramnath Goenka Excellence in Journalism Awards.