BackTV18 posts group earnings of Rs19 cr
TV18 posts group earnings of Rs19 cr
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New Delhi: Television Eighteen India Ltd, the nation’s third-biggest news broadcaster by market value, on Monday said it posted a fiscal fourth-quarter profit of Rs19 crore.
Net sales at Television Eighteen, which runs the CNBC-TV18 news channel, stood at Rs80.4 crore in the three months to 31 March, the broadcaster said in a release to the National Stock Exchange.
Details of the company’s performance in the corresponding quarter of the previous year weren’t immediately available.
Meanwhile, Network 18, the holding company of Television Eighteen, will invest $10 million (Rs41 crore) in a film company to be listed on London’s Alternative Investment Market (AIM). The $110-million Indian Film Company will have the first rights for all productions of Studio 18, the motion picture unit of Network 18, the Television Eighteen Group said in a statement. Raghav Bahl, founder of Television Eighteen Group, plans to raise £55 million ($109 million) in an IPO of shares of Indian Film Company, the Sunday Times said, citing Bahl.
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