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TV 18: Tu(r)ning around

Nov 5, 2003

Television Eighteen (TV18), India's premier business news broadcaster and a leading media content provider, continued to improve its performance in 2QFY04, with the topline growing by a smart 26%. Also, the bottomline, which was at a loss of Rs 10 m in the corresponding quarter last year, was at Rs 18 m in 2QFY04. Improvement in efficiencies helped operating margins show a marked improvement from 22% to 33% YoY.

  Consolidated
(Rs m) 2QFY03 2QFY04 Change 1HFY03 1HFY04 Change
Net Sales 87 109 25.5% 157 197 25.5%
Expenditure 68 73 7.9% 123 130 6.1%
Operating Profit (EBDIT) 19 36 87.7% 34 67 94.7%
Operating Profit Margin (%) 22.1% 33.0%   21.9% 33.9%  
Interest 6 2 -65.9% 14 5 -67.2%
Depreciation 7 10 37.4% 15 17 16.9%
Profit before Tax 6 24   6 45  
Extraordinary Items (15) (6)   (8) (15)  
Tax 1 -   3 -  
Profit after Tax/(Loss) (10) 18   (6) 30  
Net profit margin (%) -11.5% 16.7%   -3.7% 15.2%  
No. of Shares (m) 11.6 11.7   11.6 11.7  
Diluted Earnings per share*   6.2     5.1  
P/E ratio         29.5  
(* annualised)            

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