Interest income from IPO oversubscription propels TV 18' profit - Views on News from Equitymaster

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  • Apr 26, 2000 - Interest income from IPO oversubscription propels TV 18' profit

Interest income from IPO oversubscription propels TV 18' profit

Apr 26, 2000

TV 18 saw a 55 times oversubscription for its public issue. The interest income from the oversubscribed amount has propelled its profit numbers for the first half of the current year (the company's year ends in September). If one takes into account the post tax benefit of the interest the company seems well in line to achieve the net profit projections it made at the time of the public issue.

(Rs m) 1HFY00 Sept00(E)
Sales 147 302
Other Income 180  
Expenditure 80 158
Operating Profit (EBDIT) 67 144
Operating Profit Margin (%) 45% 48%
Interest 12 5
Depreciation 3 8
Profit before Tax 231 131
Other Adjustments    
Tax 70 17
Profit after Tax/(Loss) 161 114
Net profit margin (%) 109.8% 37.7%

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