India's TV18 Broadcast rises on record quarterly revenue

TV18 Broadcast

18/01/2022 09:57

** News channel operator's shares  TVEB.NS  rise as much as
4.3% to an over one-month high of 50.85 rupees 
    ** TV18 Broadcast's Dec-qtr consolidated revenue from
operations jumped over 15% to a record 15.67 bln rupees ($210.12
million)  urn:newsml:reuters.com:*:nFWN2TY0BF
    ** Consolidated net profit dipped slightly to 2 bln rupees
from 2.14 bln rupees last yr
    ** In Q3, not only did news business see a sharp improvement
in profitability but entertainment business also continued to
deliver strong margins - TV18
    ** Operating margin for the news segment improved to 27.2%
from 18.7%
    ** Revenue growth helped regional news portfolio deliver its
first profitable quarter
    ** Including session's gains, TVEB stock is up ~7% for the
year


($1 = 74.5775 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))