India's TV18 Broadcast falls as qtrly profit slumps

TV18 Broadcast

17/01/2023 06:42

** Shares of TV18 Broadcast Ltd  TVEB.NS  fall as much as
3.2% to 35.85 rupees, their biggest intraday pct loss since Dec.
23
    ** The operator of CNBC Awaaz television channel on Tuesday
said qtrly net profit fell ~80% to 416.4 million rupees ($5.09
million) due to a surge in expenses, mainly operational costs
    ** Rev from ops for the Dec-qtr was 17.68 billion rupees, up
12.8%
    ** About 3.9 mln shares change hands by 11:45 a.m. IST vs
30-day avg of 7.4 mln shares
    ** Stock down 17.4% last year
    ($1 = 81.7900 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))