The company had posted a net profit of Rs 141.83 crore for the January-March period of the previous fiscal, TV18 Broadcast said in a regulatory filing.
However, its consolidated revenue from operations was down 5.4 per cent to Rs 1,347.94 crore for the quarter under consideration, as against Rs 1,424.93 crore of the corresponding quarter a year ago.
TV18 Broadcast’s total expenses were at Rs 1,113.32 crore as against Rs 1,254.89 crore, down 11.3 per cent.
For FY 2020-21, TV18 Broadcast’s net profit was up 78.95 per cent to Rs 745.71 crore as against Rs 416.71 crore a year ago.
Its consolidated revenue from operations last fiscal was at Rs 4,497.62 crore, down 13.1 per cent. It was Rs 5,174.94 crore in FY 2019-20.
Commenting on the results, TV18 Broadcast Chairman Adil Zainulbhai said the group has successfully dealt with the challenges posed by the COVID pandemic, and posted much improved profitability in a difficult year.
“Our brands have continued to grow in strength and salience during this period. This bears testament to our business process resilience and innovation in adversity; factors which have proved critical and will continue to remain of prime importance as we navigate any future challenges,” he said.
Shares of TV18 Broadcast Ltd on Tuesday settled at Rs 27.55 on BSE, up 0.73 per cent.