BENGALURU: Mukesh Dhirubhai Ambani’s media arm, Network18 reported improved numbers for the quarter ended 31 December 2018 (Q3 2019, quarter under review) as compared to the corresponding year ago quarter Q3 2018). The company reported 13 percent y-o-y growth in consolidated revenue for Q3 2019 at Rs 1,475 crore as compared to Rs 1,267 crore in Q3 2018. Network18 reported profit after taxes of Rs 138 crore for Q3 2018. Consolidated operating EBITA increased 18 percent y-o-y to Rs 88 crore in Q3 2019 from Rs 75 crore in Q3 2018.
Network18’s numbers comprise of numbers from its publically listed subsidiary TV 18 Broadcast Limited (TV18) and from NW18 Web digital, print and others.
TV 18 props Network 18 numbers
TV 18 consolidated revenue of Rs 1,474 crore in Q3 2019 was 22 per cent higher y-o-y than Rs 1,211 crore in Q3 2018. TV 18 consolidated operating EBIDTA for Q3 2019 increased 41 percent y-o-y to Rs 115 crore from Rs 82 crore in Q3 2018
Revenue growth in Q3 2019 was across all revenue streams. The company’s operating revenue from Business and General news (TV 18 standalone) increased 16 per cent y-o-y to Rs 290 crore from Rs 251 crore. The segment’s operating EBIDTA more than doubled (increased 130 percent) y-o-y in Q3 2019 to Rs 47 crore from Rs 20 crore.
National News (Business and General) revenue increased 12 percent in Q3 2019 y-o-y to Rs 220 crore from Rs 196 crore. National News (Business and General) operating EBITDA increased 13 percent y-o-y to 56 crore from Rs 49 crore. National News. Regional News ex-Lokmat operating revenue during the quarter under review increased 27 percent y-o-y to Rs 70 crore from Rs 55 crore. The segment reported a substantially lower loss of Rs 9 crore for Q3 2019 as compared to Rs 29 crore for Q3 2018.The Entertainment segment (Viacom 18, AETN18 and Indiacast) saw a 23 percent y-o-y increase in revenue to Rs 1,185 crore in Q3 2019 from Rs 960 crore. Operating profit of the Entertainment segment increased 11 percent y-o-y to Rs 68 core from Rs 61 core.
NW18 Web digital, print and others numbers continue decline
In Q2 2018, NW18 Web digital, print and others (NW18) revenue declined. The decline continued with a 13 per cent y-o-y fall in Q3 2019 to Rs 49 crore from Rs 56 crore in Q3 2018. NW18 operating EBIDTA was higher loss of Rs 27 crore as compared to a loss of Rs 7 crore in Q3 2018.
Company speak
Chairman of Network18, Adil Zainulbhai said: “Regional content consumption continues to see robust growth across all parts of the media industry that we play in, whether broadcasting or digital; and straddling news, entertainment and film. We continue to invest in digital with an eye on the future. We are extending our powerful brands across geographies, business models and mediums, to create the most compelling portfolio of properties in the opportunity-laden Indian media sector.”
Notes
Viacom18 and Indiacast became subsidiaries of TV18 from 28 February 2018 and have been consolidated into TV18/Network18 financials from 1 March 2018. HomeShop18 has ceased to be a subsidiary of Network18 from 15 February 2018 as a result of its acquisition of ShopCJ through a share-swap.
