Network18’s broadcasting subsidiary TV18 Broadcast has posted a net profit of Rs 72.29 crore for the quarter ended December 30, 2015 (Q3-FY16), compared to the net profit of Rs 20.26 crore from the preceding quarter. This represents a 256% increase. On a year-on-year basis, net profit increased 19.72% from Rs 60.38 crore profit in the same quarter last year. The company reported total operational revenues of Rs 692.4 crore for the quarter, up 13.80% from Rs 608.5 crore in the previous quarter and up 14.03% from Rs 607.2 crore in the same quarter last year. Media operations vs Film production Revenues from the media operations business increased by 20.48% to Rs 681.85 crore from Rs 565.91 crore in the previous quarter. Revenues form the media operations business also increased 12.60% on a year-on-year basis from Rs 605.15 crore. The revenues from TV18’s film production & distribution business declined 75.20% to 10.57 crore this quarter from Rs 42.62 crore in the preceding quarter. The business segment also saw a 11.84% decrease from Rs 11.99 crore in the same quarter last year. It’s worth noting that TV18 had stopped disclosing financial information pertaining to its news business and entertainment business from Q2-FY15. There is also no information on how IndiaCast or its infotainment business (AETN-18 India) performed during the quarter. Operational highlights In December, TV18 renewed its partnership with US-based broadcaster CNN International and has extended its collaboration on the former’s English news channel CNN-IBN. In the second term of the partnership, CNN-IBN will get access to CNN’s reporters and senior editors around the world to…
