TV18 Broadcast Q2 net profit up over two-fold to Rs 115.55 crore

Media firm TV18 Broadcast Ltd on Tuesday reported an over two-fold increase in consolidated net profit to Rs 115.55 crore for the September quarter.

The company had posted a net profit of Rs 46.55 crore in the July-September period of the previous fiscal, TV18 Broadcast said in a regulatory filing.

However, its consolidated revenue from operations dipped 10.14 per cent to Rs 1,012.80 crore for the quarter under consideration, as against Rs 1,127.13 crore in the corresponding period a year ago.

Total expenses were at Rs 909.82 crore compared to Rs 1,104.13 crore earlier, down 17.59 per cent.

TV18 Broadcast Chairman Adil Zainulbhai said the company’s broadcasting businesses have recovered from the impact of the COVID-19 pandemic to a “very large degree”.