TV18 Broadcast Limited, a unit of Network18 group, on Tuesday reported consolidated net profit of Rs 147 crore for the third quarter ended December 31, 2018.

TV18, which operates channels like CNBC-TV18, CNBC Awaaz, CNN-News18, posted a 41 percent rise in consolidated operating profit to Rs 115 crore in the quarter, despite continuing investments into recent launches -- Colors Tamil and Colors Kannada Cinema, the company said.

Consolidated operating revenue rose 22 percent to Rs 1,475 crore in the third quarter of the current financial year.

“Operating revenue rose 22 percent Y-o-Y led by advertising tailwinds, successful movies like “Andhadhun”, and healthy growth in subscription income. Operating leverage drove profitability, especially led by continued strong performance of regional channels across both our news and entertainment portfolios,” the company said.

The figures for the current quarter are not comparable with those of the corresponding period consequent to Viacom18 Media and IndiaCast Media Distribution becoming subsidiaries with effect from March 1, 2018, the company said in a regulatory filing.

The subscription revenue for the group rose 13 percent yearly. At 12.48 PM, shares of the company were up 1.46 percent to Rs 38.10 on the Bombay Stock Exchange.

Disclosure:

Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

First Published:Jan 15, 2019 1:30 PM IST