TV18 Broadcast Limited announced its results for the quarter ending June 30, 2012, today.

Key Highlights for Q1 2012-13
Steady quarter with consolidated revenues from continuing broadcasting operations (excluding motion pictures, discontinued operations and new launches) at Rs. 274.2 crores and an operating profit of Rs. 34.9 crores. On a reported basis, revenues stood at Rs. 3.46bn and our operating profit was Rs. 152mn.
Consolidated Revenues were up 8% from Rs. 265.9 crores against the corresponding quarter last year.

Our continuing broadcasting operations turned in a healthy profit of Rs. 34.9 crores during the quarter (excluding motion pictures, one- time expenses/revenues and losses towards our new launches and discontinued operations).
Our subscription revenues for the quarter stood at Rs. 53.2 crores, up 35% year-on-year and in line with our expectations. There is a sequential decline in this number as Q4FY2012 included a year-end distribution of profits from Sun18 Media Services.
Our new launches during last year - History TV18, Comedy Central, Sonic, Colors HD and CNBC TV18 Prime HD are redefining their categories with their innovations and audience engagement.
We incurred losses on our motion pictures business in the quarter under discussion primarily on account of „Department?. We expect the performance of „Gangs of Wasseypur? to reflect in the ensuing quarter.

Announcing the results, Raghav Bahl, Managing Director, Network18 said that, “After a strong phase of investment in building our portfolio of channels, TV18 has now entered a consolidation phase and we are focused on creating value for all our stakeholders. Even though the broader macroeconomic environment remains challenging and uncertain, the Indian broadcasting industry is enthused by the enormous opportunity that digitization presents. At TV18, we are confident that with our distribution venture - IndiaCast, we are well poised to claim our rightful share of the opportunity. After we complete our proposed strategic stake acquisition in ETV and the proposed twin rights issues (subject to regulatory approvals), we believe that our strong television footprint will propel us to the next phase of our growth.”
Commenting on the results for the quarter, Sai Kumar, Group CEO, said, and “Despite advertising sluggishness, our broadcast businesses, led notably by Colors, our News Network and History TV18, have continued to grow. We also aligned ourselves for digitization through the formation of the IndiaCast venture in broadcast and new media spaces with a mandate spanning domestic as well as international markets. The IndiaCast bouquet comprising of 49 channels across news, entertainment and regional genres is well-equipped to leverage the digital upside. We?re focused on maintaining strong operational performance, in spite of uncertain headwinds on the advertising front in the medium term.”