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    TV18 Broadcast Q2 net jumps 15%

    earnings | IST

    TV18 Broadcast Q2 net jumps 15%

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    TV18 Broadcast said its total income for the given quarter stood at Rs 1,151 crore as against Rs 1,201 crore for the same period of last year and Rs 1,231 crore in the first quarter of current fiscal. 

    TV18 Broadcast reported a 15 percent jump in its consolidated net profit for the second quarter ended September 30, 2019, at Rs 46 crore.
    Net profit in the same quarter of last year stood at Rs 40 crore and at Rs 23 crore in the first quarter of current financial year.
    The company said its total income for the given quarter stood at Rs 1,151 crore as against Rs 1,201 crore for the same period of last year and Rs 1,231 crore in the first quarter of current fiscal.
    Total expenses dropped to Rs 1,104 crore versus Rs 1,146 crore in the corresponding period of last year.
    TV18 Broadcast, in a statement, said, subscriptions in the second quarter rose 43 percent but advertising environment continued to remain soft.
    The company said its pure earnings, or EBITDA margins, improved to 9.3 percent as against 9 percent, last year.
    Adil Zainulbhai, chairman, TV18, said, “The advertising environment continues to remain challenging; however, positivity in subscription income and cost optimizations through tie-ups and tech deployments have filled-in the gap.”
    On the revenue outlook, TV18 Broadcast said, "Ad-spends began to rise led by the advent of the festive season late in the quarter, and big-ticket programmes and events planned around the same. We are hopeful that Government policies aimed at stimulating demand shall aid the recovery as we head into H2."
    Disclaimer
    : Reliance Industries owns TV18 Broadcast and Network 18 which publishes CNBCTV18.com
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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