TV18 Broadcast has reported a strong second-quarter performance with profit coming in at Rs 141 crore versus Rs 75 crore in the same period a year before.
The reported consolidated revenue is up 29 percent to Rs 1,308 crore compared to the corresponding quarter last year, and consolidated operating profit (EBITDA) is up 47 percent to Rs 242 crore year-on-year.
The company management in its release to the Bombay Stock Exchange (BSE) has said that both the news as well as the entertainment businesses have further improved profitability after bouncing back in the previous quarter.
"The strong revenue growth is driven by viewership... This was the highest-ever Q2 revenue (ex-film)," read the statement.
It is noteworthy that the 18.5 percent operating margin is Despite a lingering impact of the second wave of COVID-19.
The share of the entertainment portfolio has also seen a healthy rise.
"The share of entertainment portfolio is up 90 bps at 11.8 percent versus the first quarter and is the highest in 7 years."
Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
First Published: IST