TV18 Broadcast shares zoom 16.5 pc after Dec quarter results

Shares of TV18 Broadcast on Tuesday zoomed 16.5 per cent after the company reported a 39.60 per cent rise in consolidated net profit for the December 2019 quarter. The scrip jumped 14.89 per cent to close at Rs 28.55 on the BSE. During the trade, it advanced 19.11 per cent to Rs 29.60. On the NSE, it climbed 16.49 per cent to close at Rs 28.95.

A total of 22.78 lakh shares were traded on the BSE and over three crore units exchanged hands on the NSE.

Media firm TV18 Broadcast on Tuesday reported a 39.60 per cent rise in consolidated net profit at Rs 205.16 crore for the quarter ended on December 31, 2019.

The company had posted a net profit of Rs 146.96 crore for the corresponding period of the previous fiscal, TV18 Broadcast said in a regulatory filing.

Consolidated revenue from operations stood at Rs 1,425.37 crore for the quarter under consideration, as against Rs 1,474.70 crore a year ago.

"Our emphasis on delivering value to the consumer, expanding the partner ecosystem and raising profitability were the primary milestones during the past quarter," TV18 Chairman Adil Zainulbhai said.