TV18 Broadcast Q1 net profit down 92% to Rs 1.88 crore in first quarter

Media firm TV18 Broadcast Ltd on Wednesday reported a 91.88 per cent decline in consolidated net profit at Rs 1.88 crore for the first quarter ended June 2020.

The company had posted a net profit of Rs 23.17 crore in April-June quarter of previous fiscal, TV18 Broadcast said in a regulatory filing.

Its revenue from operations fell 35.20 per cent to Rs 775.93 crore during the quarter under review as against Rs 1,197.51 crore in the corresponding quarter a year ago.

Total expenses stood at Rs 799.20 crore in June quarter, down 33.38 per cent from Rs 1,199.66 crore in the year-ago quarter.

Shares of TV18 Broadcast Ltd were trading 8.32 per cent lower at Rs 35.80 on the BSE during the afternoon trade on Wednesday.