PTI

Mumbai: Media and entertainment company Television Eighteen Ltd on 29 July announced a net profit of Rs3.44 crore for the first quarter ended 30 June 2008, up 17.4% over the corresponding period a year ago.

The company had a net profit of Rs2.93 crore in the first quarter of 2007-08, Television Eighteen said in a filing to the Bombay Stock Exchange.

Total revenue of the company rose to Rs90.23 crore in the latest quarter, from Rs61.59 crore in the same period last year.

Television Eighteen also announced its audited financial results for the financial year 2007-08, as per which the consolidated net profit was down 82.72% at Rs5.57 crore for the year ended 31 March, 2008, as compared to Rs32.24 crore a year-ago.

Total revenue rose to Rs435.74 crore for 2008 from Rs258.55 crore, previous year.

On a standalone basis, the company reported a net profit of Rs30.48 crore for the year ended 31 March 2008, against Rs17.51 crore in 2007. Total revenue rose to Rs327.01 crore from Rs 201.74 crore.

The company’s shares were trading at Rs213.80, down 7.29% on the BSE in noon deals.