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TV18 Net Profit At Rs 5.9 Cr For Q1-FY14; News Biz Down, Entertainment Biz Up

TV18 Broadcast Limited, the broadcasting subsidiary of Network18 reported a net profit of Rs 5.9 crore for the quarter ending June 30, 2013 (Q1-FY14), up from Rs 23.5 crore loss in the same quarter last year. The operating profit was at Rs 23.8 crore for the quarter, up from 15.2 crore in Q1-FY13. The company posted total revenues of Rs 396.2 crore for the quarter, up from Rs 293.7 crore in the same quarter last year. Note that this revenue includes the entire revenue generated from its broadcasting operations (news and entertainment operations), its infotainment operations (AETN18), 50% share of Viacom18, IBN Lokmat and 75% of its distribution operations through IndiaCast, a joint venture with Viacom18 and its motion pictures business. Loss In General News Ops; Profits Decline In Business News Ops Revenues from the news and infotainment business declined for the quarter: Rs 119 crore down from Rs 127 crore in the same quarter last year. The operating profit for the segment was at Rs 14.7 crore for the quarter, up from Rs 14 crore in the same quarter last year. General News: Revenue from TV18's general news operations declined year-on-year (YoY) to Rs 55.2 crore for the quarter, down from Rs 62.1 crore in Q1-FY13. The segment saw an operating loss of Rs 1.4 crore for the quarter, down from Rs 2.2 crore profit in Q1-FY13. The company attributed the loss to a lackluster advertising environment. TV18 currently operates general news channels like CNN IBN, IBN7 and IBN Lokmat. Business News: Revenues from TV18's business news operations…

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