TV18 Posts Robust Growth in Business News, Revenues up 48% & Profits surge 32% to Rs.375 mn YoY

TV18 Posts Robust Growth in Business News

Revenues up 48% to Rs 719 mn YOY,

Profits surge 32% to Rs 375 mn YOY

Pre-Tax Earnings in Business News Jump 26% YOY

Web18 in Investment Mode; Revenues grow 75% YOY

Quarterly EPS Rs.4.80*

Highlights:

• TV18’s Total Q4 Revenues (News and Internet & Software) surge to Rs 803.8 mn.
• TV18’s Business News Operations maintains its stronghold on the leadership position. CNBC-TV18 and CNBC-Awaaz together dominate the Business News genre with over 73% market share.
• Moneycontrol.com continues to dominate financial information on the web.
• Ibnlive.com becomes India’s largest General News Portal. Reach and Pageviews ahead of ndtv.com
• Newswire18 launched; first Indian real-time news and market data platform.

Following the meeting of the Sub-Committee of the Board of Directors, Raghav Bahl, Television Eighteen’s Managing Director said: "We are extremely happy with this Quarter’s performance. Our channels are maintaining their pole position in the Business News space and we continue to increase the width and depth of our offering via Newswire18. Web18 continues to show impressive revenue growth and has entered investment mode as we scale up our ambitions on the Internet".

The stock closed the day at Rs.754.80, up by Rs.27.20 or 3.74%. The total traded quantity was 134037 at an average price of Rs.753.09 resuling in a turnover of Rs.1009.42 Lakhs. The stock hit an intraday high of Rs.768 and low of Rs.718.10.

Source : Equity Bulls

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