TV18 Broadcast announces Q3 results

21 Jan,2013

By A Correspondent

 

TV18 Business (both News and Entertainment) show a strong growth trajectory this quarter. Reported revenues for the television and motion pictures business (including IndiaCast) stood at Rs.512.4 crore for the quarter. The reported operating profit for the quarter was Rs. 48.1 crore. The company turned in a profit of Rs.21.3 crore after tax.

 

TV 18’S continuing broadcasting and motion pictures operations turned in a strong performance with a profit of Rs.58.1 crore during the quarter excluding one-time expenses/revenues and losses towards new launches and discontinued operations. The Net Distribution Income turned positive while Advertising Revenues grew 10 percent YOY.

 

Announcing the results, Raghav Bahl, Managing Director, Network18 said, “I am delighted to inform our investors and stakeholders that TV18 has returned to profitability this quarter. Our Net Distribution Income has finally broken into positive territory and our recast balance sheet has helped us rationalize our interest payouts. We are now entering an exciting phase in our journey as we strengthen our existing operations and consolidate our regional acquisition.”

 

Commenting on the results for the quarter, B. Saikumar, Group CEO, said, “We are extremely pleased that all our broadcast operations grew their margins despite softness in the advertising environment. IndiaCast has hit a positive trajectory and stays with its focus of correcting the group’s distribution revenues upwards and adding more brands and partners to its stable. The News Network will further consolidate its leadership position with the addition of ETV News to the stable. The brands across mass entertainment, English and Factual Entertainment, Kids, Music continue to grow and hold leadership positions. Importantly, all our programming initiatives in prime time and the weekend have paid off rather well on Colors and we hope to replicate this success in the regional ETV entertainment bouquet as well by investing in content and audiences.”

 

Business News Operations reported a strong quarter with margins expanding almost threefold as compared to the same quarter last year. General News Operations broke into positive territory with 10 percent margins. Q3FY13 revenues for Viacom 18 grew to Rs. 473.5 crore, a growth of 50 percent over the same  quarter last year.

 

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