The media company, which also owns stakes in Viacom18, saw its operating revenue increase by 20% year-on-year to Rs 1866 crore, driven by the news business, movie studios, and sports verticals. Viacom18 owns and operates 38 TV channels besides the JioCinema streaming platform. It also runs 20 news channels across multiple languages in addition to digital news properties
Both TV18 Broadcast and Network18 Media stocks soared up to 10 percent. Other media shares such as DB Corp, PVR Inox, Dish TV, Sun TV were also up in the range of 1-5 percent.
Network18 Q1: The company said its TV News network delivered strong growth in revenues driven by leadership in key markets as its channels continue to be number one in the Hindi, English and Business news genres