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IBN18 Broadcast June net profit at Rs5.90 cr

This article was posted on Jul 15, 2009 and is filed under Stock News

Mumbai: Media firm IBN18 Broadcast on Wednesday said its consolidated net profit for the quarter ended June stood at Rs5.90 crore in the current fiscal. However, the media firm had a net loss of Rs16.55 crore in the same period ended June 2008, IBN18 Broadcast said in a filing to the Bombay Stock Exchange.

As per the scheme of arrangement between BK Fincap Private, Jagran TV Pvt (now known as IBN18 Media & Software Ltd.) and the company for acquisition of IBN7 channel business from Jagran TV and the merger of BK Fincap into the company. Accordingly, the corresponding previous period numbers for the quarter ended June 30, 2008 are not comparable with the current period, the filing added.
Revenue stood at Rs106.67 crore for the quarter ended 30 June, 2009, however it had a revenue of Rs 30.10 crore in the same period last year.

source: Livemint

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