Shares of TV18 Broadcast are trading flat with a positive bias as the company reported a PAT of Rs2cr for Q1FY20 compared to a loss of Rs27cr in the same quarter a year ago.
The company’s revenue rose 41% yoy to Rs323cr in the June quarter this year.
Expenses rose 23% yoy to Rs310cr in the June 2019 quarter vs. Rs252cr in the quarter ended Jun’18 as the marketing, distribution, and promotional expenses almost doubled.
TV18 is a subsidiary of Network18 Media & Investments Ltd and owns marquee brands, namely, CNBC-TV18, CNN News18, Colors, MTV, Nickelodeon and others. Recently, it has launched Colors Tamil in its regional entertainment portfolio, which has already garnered ~5% viewership share. Viacom18 Media launched channels for Hindi movies, music and also its OTT platform VOOT. Company’s regional news cluster has the highest reach in the country, with 48cr audience tuning into the network in Q2FY19.
TV18 Broadcast Ltd is currently trading at Rs23.55 up by Rs0.05 or 0.21% from its previous closing of Rs23.50 on the BSE.
The scrip opened at Rs24.75 and has touched a high and low of Rs24.75 and Rs22.85 respectively. So far 46,57,159 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs4,028.75cr.―India Infoline