TV18 Broadcast shares plunged over 7 per cent intraday after the company reported 71 per cent fall in consolidated net profit at Rs 5.15 crore for the quarter ended September 30, 2016 against net profit of Rs 17.78 crore in the corresponding quarter a year ago. At 3.01 pm, shares of TV18 Broadcast were trading 7.04 per cent down at Rs 43.60. The scrip opened the day at Rs 46.95 and has touched a high and low of Rs 48.20 and Rs 42.70, respectively, in trade so far. Later, the scrip closed 6.82 per cent down at Rs 43.70.
The company had reported a net loss of Rs 14.13 crore in the sequential quarter ended June 30, 2016.
Consolidated total income from operations of the company increased by 5.33 per cent to Rs 239.83 crore for the quarter under review as compared to Rs 227.68 crore in the same quarter last fiscal. Total expenditure of the company climbed to Rs 262.57 crore from Rs 245.69 crore during the same period.
On a standalone basis, bottomline figures of TV18 Broadcast jumped to Rs 18.96 crore, up 146 per cent, against Rs 7.70 crore in the same quarter last year.
In the past one year, shares of TV18 Broadcast have risen 35.55 per cent to Rs 46.90, whereas BSE Sensex gained 2.97 per cent during the same period.