India's TV18 Broadcast falls ahead of Sept. qtr results

Network18 Media & Investments

17/10/2022 09:57

** Shares of news broadcast company TV18 Broadcast Ltd
 TVEB.NS  fall as much as 2.7% to 35.85 rupees ahead of its
Sept. qtr results announcement on Tuesday
    ** TVEB's June qtr net profit had fallen 65.7% to 340
million Indian rupees ($4.13 million), while year-ago profit had
risen 87.6% to 1.41 billion Indian rupees ($17.12 million)
    ** Investors to keep an eye on co's operational costs and
employee benefits expenses that dragged June qtr margins
    ** Broadcaster said it owns 60 channels in India
    ** Network18 Media & Investments Ltd  NEFI.NS  owns 51.2%
stake in co as on June-end
    ** Nearly 4 mln shares change hands by 0850 GMT vs 30-day
avg of over 7.5 mln shares
    ** Stock down 17.8% so far this year, up to last close
($1 = 82.3650 Indian rupees)
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.Das@thomsonreuters.com;))