Television Eighteen Q1 net up 17% at Rs 3 cr

MUMBAI: Media and entertainment company Television Eighteen on Tuesday announced a net profit of Rs 3.44 crore for the first quarter ended June 30, a 17.40 per cent growth over the corresponding period a year-ago.
   
The company had a net profit of Rs 2.93 crore in the first quarter of FY'08, Television Eighteen said in a filing to the Bombay Stock Exchange.
    
Total revenue of the company rose to Rs 90.23 crore in the latest quarter, from Rs 61.59 crore in the same period last year.
    
Television Eighteen also announced its audited financial results for the financial year 2007-08, as per which the consolidated net profit was at Rs 5.57 crore for the year ended March 31, 2008, as compared to Rs 32.24 crore a year-ago.
    
Total revenue increased to Rs 435.74 crore for the year ended March 31, 2008 from Rs 258.55 crore in the previous year.
    
On a standalone basis, the company reported a net profit of Rs 30.48 crore for the year ended March 31, 2008, against Rs 17.51 crore in FY'07. Total revenue increased to Rs 327.01 crore for the year ended March 31, from Rs 201.74 crore last year.
    
Shares of Television Eighteen were trading at Rs 213.80, down 7.29 per cent on the BSE in noon trade.