Network18 Media and Investments on Monday reported a 23.4 per cent rise in revenues to Rs 2400 crore for 2012-13, driven by strong growth in its broadcast and digital businesses. The strong topline growth helped narrow operating losses 87 per cent to Rs 39 crore for the year. Net loss for the year declined to Rs 105.5 crore from Rs 392.7 crore the year before.
Revenues from the broadcast and motion picture businesses under TV18 Broadcast rose 20 per cent, to Rs 1699 crore, driven by a strong growth in advertising revenue and the net distribution income (subscription revenue minus carriage fee and commissions paid to cable operators, DTH providers) turning positive. (Click here for more details)
Digital content and eCommerce business grew to Rs 400.9 crore for the year, up 193 per cent year-on-year (adjusted for the sale of Newswire18). The segment reported revenues of Rs 110.4 crore for the quarter, a growth of 200 per cent over last year.
During the year, Network18 profitably sold its entire stake in Newswire18, divested its Yellow Pages and Askme businesses and diluted its majority stake in Bookmyshow. These transactions, in line with the strategy to exit non-core businesses, added Rs 180 crore to the annual profit and raised Rs 235 crore for the Network18 Group....
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05:33 PM, May 13, 2013
Network18 Group subsidiary TV18 Broadcast today reported a net profit of Rs 20.9 crore for the quarter ended March 31 as against a net loss of Rs 8.26 crore in the same period a year ago. Reported revenues for the television and motion pictures business (including IndiaCast) stood at Rs 474.7 crore for the quarter. For 2012-13, revenue stood at Rs 1,699.1 crore. It also swung into profit at operating...
03:55 PM, May 13, 2013
New Delhi: The Cabinet on Thursday approved amendments in a law for disqualifying MPs for holding an office of profit to exempt the chairpersons of the National Commission for Scheduled Castes and Scheduled Tribes from its purview, said official sources. The government will introduce a bill in Parliament to bring about the changes, said the sources. According to sources, Section 3 of the Parliament (Prevention of Disqualification) Act, 1959, as...
03:46 AM, May 10, 2013
New Delhi: Mortgage major HDFC on Wednesday said consolidated net profit increased by 17.2 per cent to Rs 2,083.12 crore for the quarter ended on March 31, 2013. Its consolidated net profit during the same quarter (January-March) a year ago stood at Rs 1,776.74 crore. Total income during the last quarter of 2012-13 increased to Rs 11,042.88 crore from Rs 9,278.11 crore in the same period of the previous fiscal,...
04:47 PM, May 08, 2013
New Delhi: Country's largest car maker Maruti Suzuki India on Thursday reported 79.4 per cent jump in its standalone net profit for the quarter ended March 31 at Rs 1,147.5 crore, mainly on the account of good sales of models like Ertiga, DZire and Swift. The company had registered a net profit of Rs 639.8 crore during the corresponding period in 2012, Maruti Suzuki India (MSI) said in a statement....
02:14 PM, Apr 26, 2013
New Delhi: Hit hard by rising interest burden and lower sales realisations, Jindal Steel and Power's (JSPL) consolidated net profit fell by nearly 35 per cent to Rs 760.27 crore for the quarter ended March 31, 2013. The company, headed by Naveen Jindal, had reported a net profit of Rs 1,167 crore in same quarter of FY'12. Net sales during the fourth quarter of 2012-13 reported a meagre growth of...
12:30 PM, Apr 26, 2013
Mumbai: Buoyed by strong growth in voice usage and data consumption, telecom operator Idea Cellular on Thursday posted 29 per cent jump in consolidated net profit at Rs 308.18 crore for the fourth quarter ended March 31, 2013. Given the strong performance, the company has announced a dividend for the first time in 16 years. The company's net profit stood at Rs 238.98 crore in the same period last fiscal....
09:56 AM, Apr 26, 2013
San Francisco: Apple Inc on Tuesday bowed to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade. The new expanded capital plan includes issuing debt for the first time to fund $100 billion in share repurchases and higher dividends until the end of 2015. That doubles the amount from a program set up last year and...
09:44 AM, Apr 24, 2013
New York: Apple is opening the doors to its bank vault, saying it will distribute $100 billion in cash to its shareholders by the end of 2015. At the same time, the company said revenue for the current quarter could fall from the year before, which would be the first decline in many years. Apple CEO Tim Cook also suggested that the company won't release any new products until the...
08:37 AM, Apr 24, 2013
Mumbai: HDFC Bank Ltd, India's No.3 lender by loan value, met forecasts with a 30 per cent rise in quarterly profit on Tuesday led by higher loan growth, fee income and stable asset quality. Mumbai-based HDFC Bank, which has posted profit growth of more than 30 per cent every year for the last decade, said its net profit rose to Rs 18.9 billion in the quarter ended in March from...
03:50 PM, Apr 23, 2013
New York: US stocks fell in a broad market selloff on Wednesday, led by a sharp drop in Apple shares on worries about slowing demand for its products and weaker-than-expected results from Bank of America that battered the financial sector. Apple Inc slid 5.5 per cent to $402.80 after falling below $400 for the first time since December 2011. A key supplier, chipmaker Cirrus Logic , gave a disappointing revenue...
04:23 AM, Apr 18, 2013
Bangalore: HCL Technologies Ltd, India's fourth-biggest software services provider, beat analysts' estimates with a 73 per cent rise in quarterly profit after winning orders and keeping a lid on hiring. Net profit rose to Rs 10.4 billion for the fiscal third-quarter ended on March 31 from Rs 6 billion in the year-earlier period, said HCL Technologies, whose customers include Finnish mobile phone maker Nokia Oyj. That compared with the average...
09:59 AM, Apr 17, 2013
New Delhi: Bharat Heavy Electricals Ltd (BHEL), India's state-run top power equipment maker, reported on Monday an 8 per cent fall in provisional net profit for the fiscal year ended on March 31. India's power sector has been badly hit by shortages of coal and gas supplies, delays in environmental approvals for power and mining projects and drying up of funding - severely denting the demand for equipment. Provisional net...
01:25 PM, Apr 08, 2013
Shares rallied on Tuesday after a sedate start, with investors appearing to have regained their appetite for midcap stocks. The BSE Sensex finished above the psychological 19,000-mark, up 176 points over its previous close. The Nifty rose 43 points to close at 5748. ...
09:42 AM, Apr 02, 2013
Coca-Cola says it's cutting 750 jobs in the US as it continues to streamline its business. The world's biggest beverage maker says the jobs cuts will be across the board and that affected individuals will be notified in coming weeks. The cuts represent roughly 1 per cent of the company's workforce of 75,000 in North America. ...
02:13 AM, Mar 22, 2013
CNBC TV18 has emerged as the clear winner as far as the race for the leadership position for business channels coverage of the Union Budget is concerned. Despite its bevy of competitors, CNBC TV18 has managed to stay ahead and remain the head of the pack. ...
04:34 PM, Mar 08, 2013
Unhappy with the government's new drug pricing policy that will "reduce their profits" and "create hassles", 10,000 chemists across Delhi on Tuesday threatened to go on a strike March 15 if their demands were not met. ...
09:11 PM, Mar 05, 2013
State Bank of India, the country's biggest lender, reported a 4 per cent gain in quarterly net profit, the smallest increase in more than a year, as higher provisions for bad loans and slower loan demand hurt growth. ...
01:07 PM, Feb 14, 2013
Jet Airways on February 1 reported a net profit of Rs 85 crore for the quarter ended in December 2012. The Naresh Goyal-owned company had reported a net loss of Rs 101.22 crore in the October-December quarter ended on December 31, 2011, Jet Airways said in a filing to the BSE. ...
04:46 PM, Feb 01, 2013
State-run power producer NTPC on Monday reported nearly 22 per cent jump in net profit at Rs 2,596.76 crore in the third quarter ended December, 2012. ...
03:36 PM, Jan 21, 2013
