TV18 BROADCAST Announces Quarterly Results (2QFY19); Net Profit Up 402.3%

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TV18 BROADCAST Announces Quarterly Results (2QFY19); Net Profit Up 402.3%
Tue, 16 Oct

TV18 BROADCAST has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

TV18 BROADCAST Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,27210,88211,98310.1%427.4%
Other incomeRs m777532-57.5%-59.0%
TurnoverRs m2,35010,95712,0159.7%411.3%
ExpensesRs m2,27310,48910,9054.0%379.7%
Gross profitRs m2483931,078174.4%334.1%
DepreciationRs m1523263301.3%117.2%
InterestRs m4918422622.7%360.2%
Profit before taxRs m125-43554344.3%
TaxRs m6099230131.4%281.9%
Profit after taxRs m65-142325402.3%
Gross profit margin%10.93.69.0
Effective tax rate%48.2-233.441.4
Net profit margin%2.7-1.32.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 427.4% on a year-on-year (YoY) basis. The expenses were up by 379.7% YoY during the same period.
  • The company's operating profit increased by 334.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.0% in 2QFY19 as against 10.9% in 2QFY18.
  • Depreciation charges and finance costs increased by 117.2% YoY and 360.2% YoY, respectively.
  • Other income declined by 59.0% YoY during the quarter.
  • Net profit for the quarter increased by 402.3% YoY. Net profit margins during the quarter declined from 2.7% in 2QFY18 to 2.7% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.0% QoQ during the same period.
  • The company's operating profit increased by 174.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.0% in 2QFY19 as against 3.6% in 1QFY18.
  • Net profit for the quarter increased by 329.0% QoQ, while net profit margins increased from -1.3% in 1QFY18 to 2.7% in 2QFY19.

To see how TV18 BROADCAST has performed over the last eight quarters, please visit here.

TV18 BROADCAST Share Price Performance

Over the last one year, TV18 BROADCAST share price has moved up from Rs 40.5 to Rs 39.7, registering a Loss of Rs 0.8 or around 1.9%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,279.6 (up 0.2%). Over the last one year it has moved up from 5,953.0 to 7,279.6, a gain of 1,327 points (up 22.3%).

Overall, the S&P BSE SENSEX is up 7.6% over the year.

Current Valuations

At the current price of Rs 39.7, the price to earnings (P/E) ratio of TV18 BROADCAST stands at 244.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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For the quarter ended September 2019, TV18 BROADCAST has posted a net profit of Rs 366 m (up 12.8% YoY). Sales on the other hand came in at Rs 11 bn (down 5.9% YoY). Read on for a complete analysis of TV18 BROADCAST's quarterly results.

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