India's TV18 Broadcast down after reporting Q2 loss

TV18 Broadcast

25/10/2023 07:29

** Shares of TV18 Broadcast  TVEB.NS  fall as much as 3% to
41.45 rupees, lowest level since Aug. 14
    ** Stock on track for third consecutive session of losses,
if trends hold 
    ** Co reports consol net loss of 289.2 mln rupees ($3.48
mln) vs profit of 56.9 mln rupees a year earlier 
    ** Total expenses up 39.7% at 20.76 bln rupees, dragged by
operational costs that surged 57.7% and employee costs which
rose 23.2%
    ** Rev from ops rises 21.8% to 17.94 bln rupees 
    ** Share price trading below 50-day and 100-day moving
averages
    ** Stock currently down 2.2% trimming YTD gains to 12.8 

($1 = 83.1400 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))