MUMBAI: TV Eighteen annual results for the year ended 31 March 2004 reports their net profit at Rs.130.73 million excluding forex gains/losses and deferred tax adjustment. Their revenue from operations is Rs 537.02 million breaking up into news operations generating Rs 518.33 million, entertainment operations generating Rs 6.55 million and Internet and software operations generating Rs 12.14 million. Operating profit was at Rs.229.19 million and operating margin at 42.68 per cent.     

Their earning per share (EPS) was Rs 8.76 excluding forex gains/losses & deferred tax adjustment. A point to note is that the financial performance for TV Eighteen has been measured for Television Eighteen Group on a consolidated basis. This includes TV 18 India and its subsidiary companies TV 18 Mauritius, Eighteen Entertainment India, E18 and MCD. Hence, this year the results were published after the JV with CNBC has been restructured. Accordingly, the current results are based on a substantially different structure of revenues and costs as compared to results published for previous year, therefore these figures cannot be made a base for comparison.