TV18 Broadcast reports 49% yoy growth in operating revenue to Rs1,155cr; Stock surges 3%

Company's operating margin increased to 16.2%, its highest ever in the June quarter, compared to 5.7% on the last year.

Jul 22, 2021 12:07 IST India Infoline News Service

TV18 Broadcast Limited has announced its results for the quarter ended June 30, 2021.

The media firm’s EBITDA rises 323% yoy to Rs188cr during the quarter. It was Rs44cr during the same period last year.

Company's operating margin increased to 16.2%, its highest ever in the June quarter, compared to 5.7% on the last year.

The company has reported consolidated revenue from operations of Rs1,155cr in Q1FY22, up 49% compared to Rs776cr in same quarter last financial year.

Adil Zainulbhai, Chairman of TV18, said, “The second wave of COVID-19 could have been the dominant theme for the industry and indeed for us during the quarter but it wasn’t.

Led by the many learnings from the past year and a responsibility to serve the Indian audience, we have been able to continue our businesses relentlessly and profitably.

While advertising hit a speed-breaker (primarily in entertainment), growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment. We continue to invest to ramp up offerings on our class-leading digital platforms. At the same time, we are selectively creating segmented offerings to enhance our TV portfolio in a capital-efficient manner.”

At around 12:30 PM, TV18 Broadcast was trading at Rs41.95 apiece up by Rs1.1 or 2.69% on the Sensex.

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