TV18 Broadcast Q4 Operating Revenue Jumps 41% Yoy; Net Loss At Rs 1.1 Crore

TV18

Consolidated operating revenue grew by 41 percent to Rs 1,540 crore in Q4FY18, compared to Rs 1,092 crore in corresponding period last fiscal.

TV18 Broadcast, a part of the Reliance Industries-owned Network18 Group, has reported a net loss of Rs 1.1 crore for the quarter ended March.

The company had reported a consolidated net profit of Rs 6 crore for the March quarter last year.

Consolidated operating revenue grew by 41 percent year-on-year to Rs 1,540 crore in the March quarter.

Operating earnings before interest, tax, depreciation and amortisation (EBITDA) shot up 40 percent YoY to Rs 61 crore.

During the fiscal year gone by, TV18 reported operating revenue of Rs 4,813 crore, up 16 percent from its figure for FY17.

Operating EBITDA for the year jumped to Rs 240 crore, 41 percent higher than the corresponding figure for FY17.

The results declared by the company on Tuesday are annualised results after consolidating Viacom18’s and Indiacast’s financials, with effect from March 1.

In February this year, TV18 Broadcast increased its equity interest in Viacom18 Media Private Limited from 50 percent to 51 percent by acquiring in cash 1 percent of equity shares held by MTV Asia Ventures (India) Pte Ltd, Mauritius for Rs 129.75 crore.

It consequently obtained operational control of Viacom18.

Accordingly, the company consolidated Viacom18 as a subsidiary from March 1. Consequent to this acquisition, IndiaCast Media Distribution Private Limited (IndiaCast), which was hitherto a joint venture of the company, was accounted as a subsidiary with effect from March 1.

At 13:18 hours IST, the stock was trading at Rs 64.85, down 3.57 percent on BSE.

Related posts