TV18 Broadcast jumped 6.21% to Rs 49.60 after the broadcasting company posted an 86.67% increase in consolidated net profit to Rs 140 crore on a 29% rise in revenue from operations to Rs 1308 crore in Q2 FY22 over Q2 FY21.
On a sequential basis, the company's revenue from operations grew by 13.2% while its net profit rose by 41.3% in Q2 FY22 over Q1 FY22. Profit before tax jumped 26.5% quarter on quarter and nearly 71% year on year to Rs 230.91 crore in Q2 FY22.Adil Zainulbhai, chairman of TV18 said, This quarter has been quite remarkable, both from a macro as well as Company's point of view. The way the country came out of the grip of second wave of COVID was truly heartening, and equally reassuring was the full-swing return of economic growth. The outlook is looking quite promising from a medium-term perspective and this is good news for our consumer facing businesses. With expansion into sports genre, we have taken a significant step towards scaling up our entertainment portfolio to the next level. This will help establish us as a truly integrated media company across broadcast, OTT and content studio business spanning general entertainment, news, movies and sports.
The stock hit a 52-week high of Rs 52.5 in intraday today. The counter has surged 92.5% from its 52-week low of Rs 26.05 posted on 12 April 2021.
TV18 Broadcast, a subsidiary of Network18 manages its primary business of broadcasting. TV18 runs the largest news network in India, spanning business news, general news and regional news channels.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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