Television

TV18 eases financial pain in Q3, eyes turnaround

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2017/01/11/tv18_0.jpg?itok=7c_eU0JT

MUMBAI: Television18 has eased its financial pain in the fiscal third-quarter due to some upswing in revenues while costs are kept under strict control.

For the three months ended December, TV18 has posted a standalone net loss (after tax and minority interest, before ESOP charge out) of Rs 146.64 million, narrowing it from Rs 246.95 million in the previous quarter.

The company, which operates leading business news channels CNBC TV18 and CNBC Awaaz, had posted a net profit of Rs 72.71 million in the earlier year.

Revenue from news operations at Rs 674.02 million stands 9.69 per cent higher than the year-ago period. For the trailing quarter, TV18's standalone revenue was at Rs 647.43 million.

"The fourth quarter revenue should be higher than the trailing quarter due to the Budget. When the market fully recovers, TV18 should be in a position to grab the lion's share of the growth as it has managed to protect its ratings share even after the launch of ET Now," says a media analyst who tracks the news broadcasting business.

Operating expenses for the quarter stood at Rs 469.59 million (from Rs 469.09 million a year ago). We have brought down the operating cost to Rs 450-460 million. "We do not expect that to increase. We are watching that number like a hawk," TV18 managing director Raghav Bahl told analysts.

TV18 also improved its operating margins to 30.33 per cent from prior year’s 23.66 per cent. The company said that the “high operating margins” are likely to be maintained.

During the quarter, TV18 cut 12 per cent of its permanent staff and merged the broadcast operations of its two business news channels in a bid to take corrective measures at a time when the ad market was going through a slump. The company has taken a one time restructuring charge Of Rs 45 million on account of rationalisation of its workforce.

On a consolidated basis, TV18, which also includes financials of Web18, Infomedia18 and Newswire18, has posted a net loss (after tax and minority interest, before ESOP charge out) of Rs 373.03 million. For the same quarter of the previous year, the net loss stood at Rs 306.03 million.

Revenue from consolidated operations fell marginally to Rs 1.29 billion compared to Rs 1.30 billion a year ago. Expenses stood at Rs 1.16 billion, from Rs 1.39 billion in the earlier year.

“We are happy to share that we continue to build on the turnaround in operations that started a couple of quarters back. Business news channels have returned to healthy operating margins along with drastically reducing net losses. Web18 revenues are showing strong traction as we endeavour to keep costs under control. EBITDA break-even should be achieved shortly. Newswire18 continues to strengthen revenues and operating margins. Informedia18 revenues should start growing in forthcoming quarters as new launches are being well received by customers,” says Bahl.

Web18, the subsidiary that houses all the websites of the group, has curtailed its net loss to Rs 123.25 million, as against Rs 214.08 million a year ago. Revenue from operations grew 12.56 per cent to Rs 196.93 million, while expenses dropped 35.62 per cent to Rs 224.90 million in the quarter.

In Infomedia18, the net loss for the quarter stood at Rs 92.32 million, down from Rs 103.75 million in the corresponding quarter of FY ’09. Revenue, however, decreased to Rs 334.35 million from Rs 450.86 million, while expenses were at Rs 384.37 million, down from Rs 493.71 million a year ago.

In Newswire18, revenue rose to Rs 83.77 million, from Rs 64.63 million a year ago. Net loss has narrowed to Rs 9.82 million compared to Rs 31.91 million in the third quarter of FY'09.

TV18 expects to return to black soon as the market recovers. The company plans to bring down its high interest payout by reducing the net debt from Rs 6 billion to Rs 2 billion in FY'11.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/ch.jpg?itok=72XY1Jyh
Movies Now & DD Sports top respective genres: Chrome

The English movies genre emerged as the most benefitted genre with 2.8 per cent in six metros with Movies Now topping the chart with 48.3 per cent opportunity to see (OTS) in week 32, Chrome Data Analytics & Media reported.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/jay.jpg?itok=nNs8G7bM
Boxing Federation of India set to extend pro-league bid submission date (updated)

MUMBAI: The BFI has announced the extended date of submitting the bid documents as 11 September 2017. The tender documents are available on its website. Previously the last date for submitting the bid documents was 16 August. The BFI is looking at licensing the league for 10 years.  " BFI...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/Vishal%20Gurnani.jpg?itok=SiOULiSQ
Bhojpuri GEC Dishum launched, targets 65 mln C&S homes

MUMBAI: It's hoping to make a big impact on Indians love for everything Bhojpuri. Mumbai-based Dishum Broadcasting flagged off the free-to-air Bhojpuri TV GEC  Dishum just as India entered its seventy-first year of becoming independent. Branded Bhojpuri Dhamaka- Dishum, it is expected to have the...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/Kalanithi-Maran.jpg?itok=0LrB94av
Sun TV gets 'buy' rating from ICICI & Edelweiss

MUMBAI: Leading brokerages in India have recommended a 'buy' rating for Sun TV, the television channel consistently leading across genres for weeks as per BARC India ratings. ICICI Direct has recommended 'buy' rating with a target price of Rs 830 in its research report dated 14 August, and...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/Rajkummar.jpg?itok=dQ3Uok06
Rajkummar wins award for Trapped, 'Shab' Australian premiere on 18 Aug

NEW DELHI: Actor Rajkummar Rao won WESTPAC Special Mention Best Actor Jury award at the Indian Film Festival of Melbourne for the survival drama Trapped released this year. Rajkummar won huge critical acclaim for the thriller helmed by award-winning filmmaker Vikramaditya Motwane. The movie was...

Television TV Shows Awards
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/15/ajitanjumsupriyaprasadbea800x800.jpg?itok=MYQpAH3i
BEA elects Supriya Prasad as president; Ajit Anjum as general secretary

MUMBAI: There’s change at the top at the apex body - The Broadcast Editors' Association (BEA) - that represents the editorial interests of the Indian news broadcasting industry. Aaj Tak and India Today managing editor Supriya Prasad was elected its president while Ajit Anjum was elected general...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/14/DD-800x800_1.jpg?itok=VgGjE_EG
I-Day: Carry DD News with sign interpretation, channels advised

All television channels have been asked to carry the signals of Doordarshan News/DD Bharati with sign language interpretation for the benefit of differently-abled persons and make the event accessible to them.

Television TV Channels Terrestrial
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/14/viru_0.jpg?itok=ARVHBfkp
I-Day programmes & initiatives

EsselWorld is all set to celebrate 71 years of India’s Independence by giving a tribute to the Indian Army. On 15th August, 2017, the park will contribute 10% of the ticket value collected from the sale of combined EsselWorld and Water Kingdom tickets, valued at Rs. 1,299/-, towards the welfare of...

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/16/grb.jpg?itok=6Vr_Jr-O
GRB sells crime docus to Caribbean, Poland, Denmark & U.K. broadcasters

GRB Entertainment announced sales of several of its top crime documentaries to broadcasters in the Caribbean, Poland, Denmark, and the U.K.

Television TV Channels English Entertainment

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories