TV18 Broadcast's revenue from operations in Q2 grew by 10.12 percent sequentially to Rs 1,198.33 crore compared to Rs 1,088.19 crore in June quarter.
TV18 Broadcast, one of India's largest television broadcasting networks, turned profitable for the quarter ended September 2018 on a sequential basis.
The company posted a consolidated profit for the quarter at Rs 40.36 crore against a loss of Rs 6.82 crore in the previous period.
Consolidated revenue from operations in Q2 grew by 10.12 percent sequentially to Rs 1,198.33 crore compared to Rs 1,088.19 crore in June quarter.
In September quarter 2017, TV18 had reported a profit at Rs 7.33 crore on revenue of Rs 227.23 crore.
The company said consequent to Viacom18 Media Private Limited and IndiaCast Media Distribution Private Limited becoming subsidiaries with effect from March 2018, the figures for the current quarter and half year are not comparable with those of the corresponding periods.
Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) jumped to Rs 107.8 crore from Rs 39.2 crore and margin expanded to 9 percent from 3.6 percent QoQ.
At 11:36 hours IST, the stock price was quoting at Rs 37.25, up Rs 2.15, or 6.13 percent on the BSE after strong sequential growth in earnings.
Disclaimer: TV18 Broadcast is a part of Network 18 which also publishes Moneycontrol.
