TV18 Q2 registers consolidated revenues of Rs 302 cr

Consolidated revenues for the second quarter of the year 2011-12 stood at Rs. 425.4 crores, up 20%, compared to the corresponding quarter last year, 2010-11. The Digital Content and eCommerce Business grew to Rs. 57 crores for the quarter growing at 24% over the same quarter last year (on a proforma basis).

Announcing the results, Raghav Bahl, Managing Director, Network18 said that, "Network18 has turned in a steady performance despite the volatile and challenging macroeconomic environment. We continue to invest in building our businesses and are particularly pleased to see the rapid growth trajectory of our ecommerce business and the investor interest in this business."

Commenting on the results for the quarter, Haresh Chawla, Group CEO, said, "The quarter gone by was tough yet steady for our businesses. Advertising revenues may continue to see tepid growth for a few months more driven by domestic and global factors. We continue to profitably grow our existing core operations offset by investments we are making towards building out our portfolio of television channels and ecommerce properties to further consolidate our market position."

The network had successfully launched History channel in October 2011. Rs 5.7 crore of pre-operative expenses were incurred in the current quarter.