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TV18’s Q4 net profit from news biz zooms to Rs 61 crore
MUMBAI: TV18 Broadcast’s news business reported a fiscal fourth-quarter net profit of Rs 60.90 crore (Rs 609 million), up 247 per cent from the year-ago period. In the earlier year, net profit stood at Rs 17.55 crore (Rs 175.54 million).
However, the previous fourth-quarter earmarked for one-time exceptional expense of Rs 17.13 crore (Rs 171.3 million) towards severance pay.
In the quarter ended 31 March 2015, income from operations stood at Rs 176.47 crore (1.76 billion), up 16.9 per cent from Rs 151 crore (Rs 1.51 billion) a year ago.
Expenses, meanwhile, grew 5.15 per cent to Rs 121.24 crore (Rs 1.21 billion), from Rs 115.30 crore (Rs 1.15 billion) in the earlier year.
Marketing, distribution and promotion expense (mainly carriage) stood at Rs 22.26 crore (Rs 222.6 million), up from Rs 16.14 crore (Rs 161.38 million) a year ago. However, it decreased when compared to the trailing quarter. In the third quarter of FY15, this segment expense stood at Rs 25.77 crore (Rs 257.69 million).
Full fiscal performance
For the full fiscal, TV18’s net profit from the news business fell to Rs 14.63 crore (Rs 146.3 million), from Rs 59.55 crore (Rs 595.47 million) in FY14. The fiscal earmarked for one-time exceptional expense of Rs 121.35 crore (Rs 1.21 billion).
Revenue for the fiscal stood at Rs 605.61 crore (Rs 6.06 billion), up from Rs 516.05 crore (Rs 5.16 billion) a year ago.
Expenses were up marginally to Rs 467.43 crore (Rs 4.67 billion), from Rs 422.02 crore (Rs 4.22 billion) a year ago.