TV18 Broadcast registers consolidated loss of Rs 53.5 crore for Q3

TV18 Broadcast has posted consolidated net loss at Rs 53.5 crore for the third quarter ended December 31, 2011 primarily due to expenditure on new launches. The company's consolidated net profit for the three months ended December 31, 2010 stood at Rs 19.8 crore.

The company’s revenues increased to Rs 342.8 crore during the third quarter of current fiscal. The same was at Rs 236.2 crore in year-ago period.

The profitability of the company took a hit during the quarter under review due to Rs 39 crore of one-time expense incurred in relation to the deferment of a Hindi movie channel by Viacom18. Another expense of Rs 20 crore was incurred with respect to launch costs of new channels -- Sonic, Comedy Central and Colors HD.

In addition, the company has taken write-offs at TIFC (The Indian Film Company) of Rs 14.6 crore.