GBN reports maiden profit at over Rs 2 cr

NEW DELHI: Global Broadcast News Ltd, which operates news and current affairs channel CNN-IBN, on Monday reported its maiden profit at Rs 2.07 crore for the quarter ended March 31.

The revenues stood at Rs 29.06 crore during the quarter, a company statement said here. The channel has captured a market share of over 34 per cent among the Indian English news channels, it said.

"The last quarter has seen GBN turn into black and that too within fifteen months of launch of CNN-IBN," GBN Joint Managing Director Sameer Manchanda said.

The number of advertisers on CNN-IBN increased to 250 for the year ended March 31, 2007.

The channel's news portal IBNLive.com receives over 1.5 million average page views a day and has a user base of over four million unique visitors a month, the statement said.

GBN is part of the leading news and information network Television Eighteen Group (TV18), which owns and operates channels such as CNBC TV18, CNBC AWAAZ and IBN-7.