TV18 Broadcast’s Q1 profit slips into losses at Rs 154.54 cr 12/08/2014

TV18 Broadcast’s Q1 profit slips into losses at Rs 154.54 cr
12/08/2014 18:37
TV18 Broadcast Ltd on Tuesday has reported its consolidated net loss at Rs 154.54 crore for the first quarter ended June 30, 2014, on the back of one-time exceptional expense of Rs 223.28 crore.
“The consolidated net profit after tax (PAT) of the company stood at Rs 5.93 crore during the same period a year ago,” said TV18 Broadcast Ltd in a filing to the Bombay Stock Exchange on August 12, 2014.
Further, the consolidated total income of the company stood at Rs 533.56 crore during Q1 2014-15.
The standalone total income of Q1 last year was stood at Rs 403.17 crore, the company said.
Equator Trading Enterprises Pvt Ltd ("Equator") including its subsidiaries Panorama Television Pvt Ltd and Prism TV Pvt Ltd had become wholly owned subsidiary of the company w.e.f. January 22, 2014. Hence, the consolidated results of the current period include the results of these subsidiary companies. Eenadu Television Pvt Ltd had also become an associate w.e.f. January 22, 2014 and its results have been accounted as “Associate” under accounting standard 23 on Accounting for Investments in Associates in Consolidated Financial Statements. To this extent, the results of this period are not comparable with the corresponding previous period, the company said in a statement.
Meanwhile, shares of the company closed at Rs 29.95 a piece, up 0.84 per cent, from previous close on BSE.