The company had posted a consolidated profit of Rs.21.27 crore in the same period a year earlier.
Total income from operations rose to Rs.525.47 crore from Rs.512.43 crore, the company said in a BSE filing. Finance costs declined 46% to Rs.17.1 crore from Rs.31.45 crore. Expenses during the quarter declined to Rs.460.12 crore from Rs.474.99 crore.
The company reported its highest ever quarterly Operating Profit (EBITDA) at Rs.77.5 crore, up 61 per cent year-on-year with both the entertainment and news businesses turning in strong quarters.
On a consolidated basis, the company’s advertising revenues grew 3% year-on-year. While the news and infotainment advertising environment continued to be sluggish, entertainment led by Colors and MTV delivered strong double digit advertising growth.
Its net distribution Income continued its steady growth at Rs.43.6 crore, a rise of 145% year on year.
Entertainment operations at Viacom18, led by Colors delivered a healthy performance even as Motion Pictures saw losses in this quarter. Infotainment operations at A+E Networks I TV18 broke into positive territory and IndiaCast continued on its robust growth trajectory.
Chartically speaking, the scrip is trading above its 100D and 200D SMA and EMA. The MACD and other parameters are more or less in the buy mode. The scrip is expected to give decent return going from here; the immediate target for the scrip seems to be Rs.25.