For
Immediate Release Friday
January 30, 2009
Network18
Media & Investments Limited Q3 FY
2008-09
NETWORK18 MEDIA &
INVESTMENTS LIMITED (Group Holding Company)
§
Strong Growth
Posted Across Entertainment, Films, Internet, Homeshopping, Search/Directories
And Newswire Verticals; Tough Quarter For Business & General News
Operations
§
Homeshop18
Transactions Grow 24% (YoY); 24hr Channel Accelerates Sales Growth; Contributes
50% In Total Sales; Channel Sales Up 61% Sequentially
§
Sport18 Managed
Airtel Delhi Half Marathon; Also Marketed Volvo Ocean
§
E18 Completes A
Tour With Grammy Winners Jethro Tull & Anoushka Shankar
§
Network18's Q3
Consolidated Revenues Cross Rs 2250 mn; Grow More Than 21% (YoY)
(Note:
Viacom18 results are given separately; not formally consolidated yet)
§
Net Asset Value
At Rs 155.621 Per Share (vs CMP of Rs 88.452)
TELEVISION EIGHTEEN INDIA LIMITED (Listed Subsidiary of
Network18)
- Web18
Confidentially Submits A Draft Registration Statement For IPO Of American
Depositary Shares
(See
Enclosed Press Release)
- In.com
Surpasses More Than 400 Websites Worldwide (Source: Alexa.Com);
Becomes Second Largest Indian Portal (Source: Comscore December
2008)
- Web18
Is The Second Largest Indian Internet Destination (Source:
Comscore December 2008)
- Internet
Business Revenues Up 14.59% (QoQ)
- Weak
Operating Performance By Business News Channels In Exceptionally Tough
Quarter:
- Revenues
Down 23.95% (QoQ)
- Operating
Margins Drop To 23.66%
- Q4
Likely To Be Weak, Since Full Presentation Of
- Business
Channels Dominate The Genre With Over 2/3rd Market Share; Focus
On Cost Control And Efficiency
- Newswire18
Revenues Up 26.21% (QoQ) And 81.98% (YoY); Unit Sales Grow By 11%
Sequentially
- Infomedia18
Undergoes Major Business & Cost Overhaul
- Takes
One-Time Restructuring Charge Of Rs 72.5 mn
- Restructuring
To Bring Down Annual Operating Costs By Over Rs 200 mn In Next Two
Quarters
- Alibaba
Partnership Gaining Momentum; Local Search Business Set To Launch
- Additional Disclosures About
Related Investments/Operations
- Highlights About Portfolio Of
Operating Companies Invested Into By Media Venture Capital Trust
- Network18 Trust Brings Rs 270
mn Of Profits Into The Books
1) Mark to Market NAV (on the basis
of unaudited financials of the Quarter ended 31st Dec. 2008) certified by a
Category 1 merchant banker - SPA Merchant
Bankers Limited
2) Current Market Price – Closing
price of January 29, 2009 on National Stock Exchange
ibn18
BROADCAST LIMITED (Earlier
known as Global Broadcast News Limited - Listed Subsidiary of Network18)
§
"Colors"
Challenges Star Plus Leadership In The GEC Space; Hits Revenue Run-rate Of Rs
300 Cr+ Per Annum
- Colors Has The Highest Reach Among All GECs In
Hindi Speaking Markets
- Colors Occupies 11 Out Of The Top 15 Slots Of
Indian Television
- “Balika Vadhu” Is The Most Popular Show On
Indian Television
- “Jai Shri
§
Spectacular
Performance By Other Entertainment Channels
- MTV Revenues Up 28% (YoY); Leads Youth
Entertainment Genre With High Stickiness
- Nick Revenues Up 96% (YoY); Consolidates Its
Position As Number 2 Kids' Channel; Ahead
Of
Hungama And Pogo
- Vh1 Revenues Up 17% (YoY); Launches 4 New
Shows And Continues To Grow Sequentially
§
Viacom18’s
Management Accounts For Q3 Provided Separately
§
Tough
Quarter For News Channels:
- CNN-IBN Maintains Leadership Position Among
English News Channels
- IBN7 Maintains Strong Viewership In Prime Time
- IBN Lokmat Consolidates In
§
Studio18
Creates New Domestic Box Office Record With "Ghajini"
*IBN18 has acquired a 6.6% stake in Viacom 18 Media Private
Limited (Viacom18). IBN18 has the option to purchase an additional 43.40% stake
in Viacom18 resulting in an aggregate stake of 50% in the entity.
Network18 Media and Investments
Limited:
Consolidated
Unaudited Financial Performance for the Quarter Ended 31st December
2008
Particulars |
Q3 2008-09 |
Q3 2007-08 |
Q2 2008-09 |
|
|
|
|
|
|
REVENUES: OPERATIONS |
2250.76 |
1860.90 |
2154.04 |
|
I : Revenues: Media Operations |
|
|
|
|
a) Television Eighteen India Ltd (As Published) |
|
|
|
|
1) News Operations |
614.47 |
913.95 |
808.23 |
|
2) Web18 |
174.96 |
176.21 |
152.68 |
|
3) Newswire18 |
64.63 |
35.51 |
51.20 |
|
4) Infomedia18 (As Published) |
450.86 |
0.00 |
290.48 |
|
b) ibn18 Broadcast Limited (As Published) |
744.40 |
387.55 |
307.68 |
|
c) Homeshop18 (Unlisted Subsidiary) |
75.84 |
16.31 |
50.29 |
|
d) Setpro18 (Unlisted Subsidiary) |
156.98 |
137.16 |
152.58 |
|
e) Events18 (Division) |
66.58 |
32.26 |
43.87 |
|
f) Studio18 (A Division up to 5th
Nov. 2007) |
0.00 |
5.02 |
0.00 |
|
g) Sport18 (Division) |
35.94 |
0.00 |
0.00 |
|
II : Revenues from
Investment Activities |
23.17 |
403.09 |
462.40 |
|
III : Less - Inter
Company Revenues |
(157.07) |
(246.16) |
(165.37) |
|
|
|
|
|
|
Operating Expense |
2616.83 |
1192.64 |
1918.38 |
|
Operating Profit |
(366.06) |
668.13 |
235.66 |
|
Operating Margin |
(16.26%) |
35.91% |
10.94% |
|
|
|
|
|
|
Net Outflow on Revenue
Share with CNBC & CNN |
(62.76) |
(80.00) |
(59.62) |
|
Interest/Income from
Investments |
354.25 |
80.30 |
99.96 |
|
Interest on
acquisition of long term investment |
0.00 |
0.00 |
0.00 |
|
Interest Expense |
(556.66) |
(206.58) |
(443.43) |
|
Interest (Net) |
(202.41) |
(126.28) |
(343.47) |
|
Depreciation |
(229.25) |
(90.07) |
(147.67) |
|
Non Recurring Income
/ Expenditure |
0.00 |
0.00 |
0.00 |
|
Prior Period and
Exceptional Items on account of Acquisition of Infomedia |
15.86 |
0.00 |
(33.86) |
|
|
|
|
|
|
Total Profit Before
Tax, Minority Interest and ESOP Charge Out |
(844.62) |
371.82 |
(348.96) |
|
Provision for Current
Tax/FBT |
(4.20) |
48.88 |
38.80 |
|
Profits After Tax (before minority
interest and ESOP Charge Out) |
(840.42) |
323.10 |
(387.76) |
|
Minority Interest |
(355.88) |
52.85 |
(330.74) |
|
Share in Losses of
Associates |
76.00 |
0.00 |
(33.23) |
|
Profits After Tax and
Minority Interest (before ESOP charge
out) |
(408.54) |
270.25 |
(90.25) |
|
ESOP charge out |
(32.97) |
(70.49) |
(38.09) |
|
Profits After Tax and
ESOP charge out |
(441.51) |
199.76 |
(128.34) |
|
Exchange Fluctuations |
(0.72) |
4.71 |
39.41 |
|
Profits After
Exchange Fluctuations |
(440.80) |
195.05 |
(167.75) |
|
Provision for
Deferred tax |
0.00 |
0.10 |
0.00 |
|
Net Profit After
Deferred Tax |
(440.80) |
194.95 |
(167.75) |
|
Paid up Equity Share
Capital |
308.96 |
257.41 |
308.94 |
|
EPS (Rs.) without
ESOP charge out |
(6.60) |
5.16 |
(2.10) |
|
EPS (Rs.) with ESOP
charge out |
(7.13) |
3.79 |
(2.71) |
Network18
Media and Investments Limited:
Standalone
Unaudited Financial Performance for the Quarter Ended 31st December
2008
Rs
mn.
Particulars |
Q3 2008-09 |
Q3 2007-08 |
Q2 2008-09 |
|
|
|
|
|
|
REVENUES: OPERATIONS |
125.69 |
440.37 |
506.03 |
|
|
|
|
|
|
Operating Expense |
146.00 |
78.30 |
247.30 |
|
Operating Profit |
(20.31) |
362.07 |
258.73 |
|
Operating Margin |
(16.16%) |
82.22% |
51.13% |
|
|
|
|
|
|
Interest/Income from
Investments |
0.00 |
0.00 |
0.00 |
|
Interest Expense |
(113.31) |
(31.26) |
(146.98) |
|
Interest |
(113.31) |
(31.26) |
(146.98) |
|
Depreciation |
(1.35) |
(0.28) |
(0.90) |
|
Non Recurring Income
/ Expenditure |
0.00 |
0.00 |
21.64 |
|
|
|
|
|
|
|
|
|
|
|
Total Profit Before
Tax, Minority Interest and ESOP Charge Out |
(134.97) |
330.53 |
132.49 |
|
Provision for Current
Tax/FBT |
13.24 |
0.84 |
0.65 |
|
Profits After Tax |
(148.21) |
329.69 |
131.84 |
|
Minority Interest |
0.00 |
0.00 |
0.00 |
|
Share in Losses of
Associates |
0.00 |
0.00 |
0.00 |
|
Profits After
Tax (before ESOP charge out) |
(148.21) |
329.69 |
131.84 |
|
ESOP charge out |
0.00 |
(26.35) |
(0.71) |
|
Profits After Tax and
ESOP Charge Out |
(148.21) |
303.35 |
131.13 |
|
Exchange Fluctuations |
0.00 |
0.00 |
0.00 |
|
Profits After
Exchange Fluctuations |
(148.21) |
303.35 |
131.13 |
|
Provision for
Deferred Tax |
0.00 |
0.00 |
0.00 |
|
Net Profit After
Deferred Tax |
(148.21) |
303.35 |
131.13 |
|
Paid up Equity Share
Capital |
308.96 |
257.41 |
308.94 |
|
EPS (Rs.) without
ESOP charge out |
(2.40) |
6.40 |
2.13 |
|
EPS (Rs.) with ESOP
charge out |
(2.40) |
5.89 |
2.12 |
Television
Eighteen India Limited:
Consolidated
Unaudited Financial Performance for the Quarter ended 31st December
2008
Rs. mn.
|
|
|
|
|
|
Total
Revenues (Part I, II, III and IV) |
1304.92 |
1125.68 |
1302.60 |
Part I: News Operations
Rs. mn.
|
Particulars |
Q3 2008-09 |
Q3 2007-08 |
Q2 2008-09 |
|
|
|
|
|
|
REVENUES:
OPERATIONS |
614.47 |
913.95 |
808.23 |
|
|
|
|
|
|
Operating
Expense |
469.09 |
453.35 |
488.19 |
|
Operating
Profit |
145.39 |
460.60 |
320.04 |
|
Operating
Margin |
23.66% |
50.40% |
39.60% |
|
|
|
|
|
|
Other
Income (refer note 1) |
270.00 |
0.00 |
0.00 |
|
Net
Outflow on Revenue Share with CNBC |
(47.15) |
(56.44) |
(45.04) |
|
Interest/Income
from Investments |
52.37 |
68.98 |
128.56 |
|
Interest
Expense (refer note 2) |
(324.58) |
(134.43) |
(221.11) |
|
Interest
(Net) |
(272.21) |
(65.45) |
(92.54) |
|
Depreciation
|
(54.24) |
(51.89) |
(55.49) |
|
|
|
|
|
|
Total
Profit Before Tax, Minority Interest and ESOP Charge Out |
41.78 |
286.83 |
126.96 |
|
Non
Recurring Income |
7.40 |
0.00 |
0.00 |
|
Total
Profit Before Tax, Minority Interest, ESOP Charge Out But After Non Recurring
Income |
49.18 |
286.83 |
126.96 |
|
Provision
for Current Tax/FBT |
(23.53) |
35.65 |
23.47 |
|
Profits
After Tax (before
minority interest and ESOP charge out) |
72.71 |
251.18 |
103.49 |
|
Minority
Interest |
0.00 |
0.00 |
0.00 |
|
Profits
after tax and minority interest (before
ESOP charge out) |
72.71 |
251.18 |
103.49 |
|
ESOP
Charge Out |
27.38 |
40.96 |
27.43 |
|
Profits
After Tax and ESOP Charge Out |
45.33 |
210.21 |
76.06 |
|
Exchange
Fluctuations (refer note 3) |
(0.87) |
2.00 |
33.28 |
|
Profits
After Exchange Fluctuations |
46.20 |
208.22 |
42.78 |
|
Provision
For Deferred Tax |
0.00 |
0.00 |
0.00 |
|
Net
Profit After Deferred Tax |
46.20 |
208.22 |
42.78 |
|
Paid
up Equity Share Capital |
599.39 |
579.83 |
599.39 |
|
EPS
(Rs.) without ESOP Charge Out |
0.61 |
2.15 |
0.59 |
|
EPS
(Rs.) with ESOP Charge Out |
0.39 |
1.80 |
0.36 |
1) Pursuant to the Scheme of Arrangement between TV18, SGA News and Network18 in 2006, as approved by the Hon’ble High Court of Delhi, 5,269,533 shares of Network18, originally held by the Promoter, were transferred to a Trust. The Trust has sold some of the shares and transferred a net gain of Rs. 270 mn to the Company i.e. TV18 and the same has been included in the revenues shown above. The Trust still holds a gain of Rs. 315.9 mn and also holds 3,503,824 equity shares and some derivative positions in their books of accounts, which is held for the benefit of TV18.
2)
Interest Expense includes one time upfront charges paid to various lenders
amounting to Rs 90.5 mn.
3) The exchange fluctuation for the current quarter includes a net exchange fluctuation gain of Rs 10.41 mn and provision for mark to market losses on exchange derivatives of Rs.9.54 mn. Mark to market losses amounting to Rs.77.5 mn pertaining to earlier quarters have been included in the YTD figures.
Television
Eighteen India Limited:
Consolidated
Unaudited Financial Performance for the Quarter ended 31st December
2008
Part II: Web18 Rs. mn.
|
Particulars |
Q3 2008-09 |
Q3 2007-08 |
Q2 2008-09 |
|
|
|
|
|
|
REVENUES:
OPERATIONS |
174.96 |
176.21 |
152.68 |
|
|
|
|
|
|
Operating
Expense |
349.31 |
248.04 |
342.48 |
|
Operating
Profit |
(174.35) |
(71.83) |
(189.80) |
|
|
|
|
|
|
Interest/Income
from Investments |
0.41 |
0.94 |
0.77 |
|
Interest
Expense |
4.92 |
(4.10) |
(6.87) |
|
Interest
(Net) |
5.33 |
(3.16) |
(6.10) |
|
Depreciation
|
(42.03) |
(16.07) |
(46.36) |
|
|
|
|
|
|
Total
Profit Before Tax and Minority Interest and ESOP Charge Out |
(211.05) |
(91.06) |
(242.27) |
|
Provision
for Current Tax/FBT |
1.35 |
5.66 |
5.80 |
|
Profits
After Tax (before
minority interest and ESOP charge out) |
(212.40) |
(96.72) |
(248.07) |
|
Minority
Interest |
1.68 |
(3.52) |
(10.03) |
|
Profit
After Tax and Minority Interest |
(214.08) |
(93.21) |
(238.04) |
|
ESOP
Charge Out |
(1.16) |
0.00 |
8.37 |
|
Profits
After Tax and ESOP Charge Out |
(212.92) |
(93.21) |
(246.41) |
|
Exchange
Fluctuations |
(0.73) |
2.51 |
0.73 |
|
Profits
After Exchange Fluctuations |
(212.19) |
(95.72) |
(247.14) |
|
Provision
For Deferred Tax |
0.00 |
0.00 |
0.00 |
|
Net
Profit After Deferred Tax |
(212.19) |
(95.72) |
(247.14) |
Television Eighteen India Limited:
Consolidated Unaudited Financial Performance for the
Quarter ended 31st December 2008
Part III: Newswire18
Rs mn.
|
Particulars
|
Q3 2008-09 |
Q3 2007-08 |
Q2 2008-09 |
|
|
|
|
|
|
REVENUES: OPERATIONS |
64.63 |
35.51 |
51.20 |
|
|
|
|
|
|
Operating Expense |
75.73 |
52.34 |
78.96 |
|
Operating Profit |
(11.10) |
(16.82) |
(27.75) |
|
Operating Margin |
(17.18%) |
(47.37%) |
(54.20%) |
|
|
|
|
|
|
Interest/Income from Investments |
0.00 |
0.00 |
0.00 |
|
Interest Expense |
(9.80) |
(6.30) |
(6.87) |
|
Interest (Net) |
(9.80) |
(6.30) |
(6.87) |
|
Depreciation
|
(10.43) |
(4.56) |
(5.30) |
|
|
|
|
|
|
Total Profit Before Tax and Minority Interest
|
(31.33) |
(27.68) |
(39.93) |
|
|
|
|
|
|
Provision for Current Tax/FBT |
0.58 |
0.27 |
0.33 |
|
Profits After Tax (before minority interest)
|
(31.91) |
(27.95) |
(40.26) |
|
Minority Interest |
0.00 |
0.00 |
0.00 |
|
Profits After Tax and Minority Interest |
(31.91) |
(27.95) |
(40.26) |
|
Exchange Fluctuations |
0.00 |
0.00 |
0.00 |
|
Profits After Exchange Fluctuations |
(31.91) |
(27.95) |
|
|
Provision For Deferred Tax |
0.00 |
0.00 |
0.00 |
|
Net Profit After Deferred Tax |
(31.91) |
(27.95) |
(40.26) |
Television Eighteen India Limited:
Consolidated Unaudited Financial Performance for the
Quarter ended 31st December 2008
Part IV: Infomedia18
Rs mn.
|
Particulars |
Q3
2008-09 |
Q2
2008-09 |
|
|
|
|
|
REVENUES:
OPERATIONS |
450.86
|
290.48
|
|
|
|
|
|
Operating
Expense |
493.71
|
299.62
|
|
Operating
Profit |
(42.85) |
(9.14) |
|
Operating
Margin |
(9.50%) |
(3.15%) |
|
|
|
|
|
Interest/Income
from Investments |
16.55
|
4.69 |
|
Interest
Expense |
(25.31) |
(17.02) |
|
Interest
(Net) |
(8.76) |
(12.33) |
|
Depreciation
|
(19.53) |
(8.09) |
|
|
|
|
|
Total
Profit Before Tax and Minority Interest |
(71.13) |
(29.56) |
|
Non
Recurring Income |
(72.50) |
|
|
Total
Profit Before Tax, Minority Interest |
(143.63) |
(29.56) |
|
|
|
|
|
Provision
for Current Tax/FBT |
(9.21) |
0.63 |
|
Profits
after tax (before minority interest) |
(134.43) |
(30.19) |
|
Minority
Interest |
(30.68) |
(29.09) |
|
Profits
after tax and minority interest |
(103.75) |
(1.10) |
|
Exchange
Fluctuations |
0.00 |
0.00 |
|
Profits
after Exchange Fluctuations |
(103.75) |
(1.10) |
|
Provision
for Deferred Tax |
0.00 |
0.00 |
|
Net
Profit after Deferred Tax |
(103.75) |
(1.10) |
Television Eighteen India
Limited:
Group’s Consolidated Unaudited Financial Performance
for the Quarter ended 31st December 2008
|
Particulars |
Q3
2008-09 |
Q3
2007-08 |
Q2
2008-09 |
|
|
|
|
|
|
|
|
REVENUES: OPERATIONS |
1304.92 |
1125.68 |
1302.60 |
|
|
|
|
|
|
|
|
Operating Expense |
1378.55 |
753.73 |
1209.25 |
|
|
Operating Profit |
(73.63) |
371.95 |
93.34 |
|
|
Operating Margin |
(5.64%) |
33.04% |
7.17% |
|
|
|
|
|
|
|
|
Other Income |
270.00 |
0.00 |
0.00 |
|
|
Net Outflow on Revenue Share
with CNBC |
(47.15) |
(56.44) |
(45.04) |
|
|
Interest/Income from
Investments |
69.32 |
69.92 |
134.03 |
|
|
Interest Expense |
(354.77) |
(144.84) |
(251.87) |
|
|
Interest (Net) |
(285.45) |
(74.92) |
(117.85) |
|
|
Depreciation |
(126.23) |
(72.51) |
(115.25) |
|
|
|
|
|
|
|
|
Total Profit Before Tax,
Minority Interest and ESOP Charge Out |
(262.45) |
168.09 |
(184.80) |
|
|
Non Recurring Income |
(74.38) |
0.00 |
(33.86) |
|
|
Total Profit Before Tax,
Minority Interest, ESOP Charge Out But After Non Recurring Income |
(336.83) |
168.09 |
(218.65) |
|
|
Provision for Current Tax/FBT |
(30.80) |
41.59 |
30.23 |
|
|
Profits After Tax (before minority interest and
ESOP charge out) |
(306.03) |
126.50 |
(248.88) |
|
|
Minority Interest |
(28.99) |
(3.52) |
(39.12) |
|
|
Profits After Tax and
Minority Interest (before ESOP charge out) |
(277.04) |
130.02 |
(209.77) |
|
|
ESOP charge out |
26.22 |
40.96 |
35.80 |
|
|
Profits After Tax and ESOP
Charge Out |
(303.26) |
89.05 |
(245.57) |
|
|
Exchange Fluctuations |
(1.60) |
4.51 |
34.01 |
|
|
Profits After Exchange
Fluctuations |
(301.66) |
84.55 |
(279.58) |
|
|
Paid up Equity Share Capital |
599.39 |
579.83 |
599.39 |
|
|
EPS (Rs.) without ESOP Charge
Out |
(2.30) |
1.08 |
(2.03) |
|
|
EPS (Rs.) with ESOP Charge
Out |
(2.52) |
0.73 |
(2.33) |
MEDIA VENTURE
CAPITAL TRUST
- The total contribution by TV18 to the Group's
Private Equity Investments (via Media Venture Capital Trust, or MVCT)
stands at Rs 107 cr (as on December 31, 2008). Out of this, Rs 60 cr was
committed in the previous financial year, and is shown on the Balance
Sheet for FY 2007/08. An additional Rs 47 cr has been contributed in the
current year.
- The shareholding of MVCT in these companies is
a mix of structured instruments with the final shareholding dependent upon
ESOP vesting, employee/entrepreneur earn-outs, performance metrics,
forward valuations and industry benchmarks. The final percentages are
expected to range between 10 and 49%.
- The combined YTD revenues of the companies
(excluding DEN) were Rs. 63 Crores. Stargaze commenced revenue operations
in July, Greycells18 went pay in August and Ubona in Oct. The YOY growth
rates for companies that have been in operation since last year range
between 67% and 161%.
- Financials of individual businesses are not
being disclosed due to competitive considerations and early life cycle
stage of the companies.
|
|
Name |
Description |
Industry Segment |
Date of Investment |
Number of Employees |
|
1 |
24X7 Learning Solutions Private Limited |
-
-
Have launched a fast growing franchise in the employability space
(Skillbridge) that is helping students at colleges in Tier II and Tier III
towns become employable -
Key Clients include Aditya
Birla Group, ONGC, Pepsi, HSBC & Essar Group |
Education |
Oct-07 |
105 |
|
2 |
Colosceum Media Private Limited |
-
Award winning new age content production house focused on TV and
digital media -
Led by experienced team of industry veterans -
Produced 5 shows already and
have a strong $10m+ revenue pipeline within 12 months of launch -
Shows have secured high
ratings for leading television channels - Doordarshan, Star One, MTV and
Colors |
Content Production |
Jan-08 |
35 |
|
3 |
DEN Networks Limited |
-
-
Leadership team comprises professionals with several years of
experience across the media and channel distribution -
Have a 50:50 Joint Venture
with STAR to distribute television channels across platforms such as cable,
DTH, IPTV and MMDS |
Cable Networks |
Oct-07 |
500 |
|
4 |
Greycells18 Media Private Limited |
-
Pioneer in the delivery of quality educational content over mass
media - TV, Internet & Mobile -
Launched the Topper Integrated Learning System for classes IX-XII
available on DTH and Internet -
Diversified revenue sources
include retail sales, institutional sales and licensing of content |
Education |
Jun-07 |
47 |
|
|
Name |
Description |
Industry Segment |
Date of Investment |
Number of Employees |
|
||
|
5 |
Stargaze Entertainment Private Limited |
-
Setting up a pan -
Business model leverages strong synergies with Network18's film
production and distribution units delivering strong competitive position -
Screen count being rapidly scaled up with over 5 projects in
development currently |
Film Exhibition |
Feb-08 |
40 |
|||
|
6 |
Tangerine Digital Entertainment Private Limited |
-
Pioneering media services company that provides a breadth of
solutions including digital media services, media workflow and content
production -
-
Tangerine has built up strong client relationships with many of the
biggest names in the broadcasting space - STAR TV, ESPN, Sony Pictures etc |
Media Services |
Jul-06 |
92 |
|||
|
7 |
Ubona Technologies Private Limited |
-
Have developed proprietary speech recognition technology to recognize
South Asian languages and accents -
Working with leading consumer brands and services to voice enable
their offerings -
Key clients include Tata Sky,
Airtel and Book My Show |
Technology |
Aug-08 |
10 |
|||
|
8 |
Wespro Digital Private Limited |
-
Leading national consumer electronics brand with a comprehensive
product portfolio -
Leveraging nationwide reach and rapid growth of televised shopping
network, Homeshop18 to build a national brand -
Leverages multiple distribution channels across the online and
offline media to reach out to its target segment |
Consumer Electronics |
Dec-07 |
30 |
|||
|
9 |
Webchutney Studio Private Limited |
-
-
Ranked as -
Strong portfolio of creative, design services and customized,
proprietary solutions for industry verticals -
Key clients include Bharti Group, Unilever, HP, Microsoft and P&G |
Digital Media |
Oct-07 |
120 |
|||
ibn18 Broadcast Limited:
Unaudited Consolidated (for
CNN-IBN, IBN7 & IBN Lokmat) Financial Performance for the
Quarter
ended 31st December 2008
Rs mn.
|
Particulars |
Q3 2008-09 |
Q3 2007-08 |
|
|
|
|
|
REVENUES |
744.40 |
387.55 |
|
|
|
|
|
Operating Expense |
936.07 |
284.47 |
|
Operating Profit |
(191.67) |
103.08 |
|
Operating Margin |
(-25.75%) |
26.60% |
|
|
|
|
|
Extra-ordinary Income/(Expense) |
90.00 |
(18.13) |
|
|
|
|
|
Net Outflow on Revenue Share with CNN |
(15.61) |
(23.49) |
|
Interest/Income from Investments |
9.15 |
8.48 |
|
Interest Expense |
(79.89) |
(30.41) |
|
Interest (Net) |
(70.74) |
(21.92) |
|
Depreciation |
(91.83) |
(16.15) |
|
|
|
|
|
Total Profit Before Tax and ESOP Charge Out |
(279.85) (refer
note 2 below) |
23.4 |
|
|
|
|
|
Provision for Current Tax/FBT |
7.51 |
2.1 |
|
Profits After Tax (before ESOP charge out) |
(287.36) |
21.3 |
|
Share in losses of Associates |
76.00 |
0 |
|
Profits After Tax, Minority Interest and Share in Loss of
Associate (before ESOP charge out) |
(211.36) |
21.3 |
|
ESOP charge out |
6.75 |
3.22 |
|
Profits After Tax and ESOP Charge Out |
(218.11) |
18.08 |
|
Exchange Fluctuations |
0.88 |
0.2 |
|
Profits After Exchange Fluctuations |
(218.99) |
17.88 |
|
Paid up Equity Share Capital |
300.69 |
267.28 |
|
EPS (Rs.) without ESOP charge out |
(1.54) |
0.79 |
|
EPS (Rs.) with ESOP charge out |
(1.53) |
0.67 |
1) The Scheme of Arrangement between B.K. Fincap Private Limited (BK Fincap), Jagran TV Private Limited (JTV), and ibn18 for acquisition of
"IBN 7" channel business from JTV and the merger of BK Fincap into ibn18 with effect from 1 October, 2007 and 2 October, 2007 respectively has been approved by the Hon'ble Delhi High Court and Hon'ble Allahabad High Court, during the year. The copy of the order approving the scheme has been received from the Hon'ble Delhi High Court and filed with Registrar of Companies (ROC) on 22 November 2008.
2)
Accordingly, the figures for the quarter ended December 31, 2008 are inclusive
of the operations of the merged division of JTV and BK Fincap for the period
1.4.2008 to 31.12.2008 and include revenues and expenses of the merged
entities. The net loss of ibn18 is, therefore inclusive of Rs.248.9 mn relating
to aforesaid period of said merged division of JTV and BK Fincap. Accordingly,
the figures for the corresponding previous period are not strictly comparable.
Viacom18 Media Private Limited
Management Accounts for the Quarter ended 31st
December 2008
Rs mn.
|
Particulars |
Q3 2008-09 |
|
|
|
|
REVENUES |
1252.79 |
|
|
|
|
Operating Expense |
1909.88 |
|
Operating Profit |
(657.08) |
|
|
|
|
Interest/Income from Investments |
(25.14) |
|
Interest Expense |
2.19 |
|
Interest (Net) |
(27.34) |
|
Depreciation |
10.06 |
|
Extraordinary Items |
23.32 |
|
|
|
|
Total Profit Before Tax |
(671.16) |
|
Provision for Current Tax/FBT |
7.60 |
|
Profits After Tax and ESOP Charge Out |
(678.76) |
|
Exchange Fluctuations |
(5.21) |
|
Profits After Exchange Fluctuations |
(673.55) |
|
Provision for Deferred tax |
0.00 |
|
Net Profit After Deferred Tax |
(673.55) |
*Reversal of old provisions no
longer required and hence written back.
Following the meeting of the of the Board of Directors,
Raghav Bahl, Network18’s Managing Director said:
"The Oct-Dec quarter saw the
benefits of Network18's "diversified media" strategy come into bold
relief. Our entertainment operations - especially Colors and the filmed
entertainment business - saw a spectacular growth, bucking any signs of a
slowdown. HomeShop18 also posted a robust increase across operating parameters.
However, our general and business news channels were hit by a declining revenue
environment, which has hopefully bottomed out. Our Internet properties held on
to their revenue base, while smaller operations like Newswire18 were buoyant.
Infomedia18 also showed the first signs of a bounce after its operations were
restructured to achieve cost efficiencies.
We are confident that Network18
will increase its market share during these tough times, essentially because of
the leadership enjoyed by most of our media properties - a bouquet which
includes leading entertainment channels, general and business news channels,
filmed entertainment operations, Internet portals, and directories/publications
businesses."
For further information on Business and Operations contact: For
further information on financials contact:
Haresh
Chawla, Group CEO,
Network18 R D
Tel # 022-40019186; Fax # 022-66618984; Tel
# 0120-4341700; Fax # 0120-4324110;
e-mail: haresh.chawla@network18online.com e-mail: rds.bawa@network18online.com
Further information on the company is available on its
website www.network18online.com
Network 18 Media & Investments Limited and Television
Eighteen India Limited Announce that their Subsidiary, Web 18 Holdings Limited,
has confidentially Submitted Draft Registration Statement for IPO
MUMBAI,
India – Network 18 Media & Investments Limited (BSE: 532798, NSE: Network18),
one of India’s leading media conglomerates, and its subsidiary Television
Eighteen India Limited (BSE: 532299, NSE: TV-18), have made a joint
announcement stating that their subsidiary entity Web 18 Holdings Limited, a
leading Internet company, has submitted on a confidential basis to the U.S.
Securities and Exchange Commission a draft registration statement for a
proposed initial public offering of American depositary shares, or ADSs,
representing ordinary shares of Web 18.
The
initial public offering is expected to commence as market conditions permit,
and is subject to Web 18’s filing publicly with the U.S. SEC a registration
statement and completing the
This announcement is not intended to, and does not,
constitute an offer of any securities for sale.
ABOUT NETWORK 18 MEDIA &
INVESTMENTS LIMITED (Network18)
Network18[BSE: 532798,NSE:
Network18] is one of India's leading full play media conglomerates with
interests in television, print, internet, filmed entertainment, mobile content
and allied businesses. Through its
holding in Television Eighteen India Ltd (TV18) [BSE: 532299, NSE: TV-18],
Network18 operates
ABOUT TELEVISION EIGHTEEN INDIA
LIMITED (TV18)
TV18
[BSE: 532299, NSE: TV-18], a subsidiary of Network18 operates India’s leading
business news television channels, CNBC-TV18 and CNBC Awaaz. It also runs one
of India’s largest Internet players - Web18, as well as one of India’s leading
real time financial information and news terminals - Newswire18. TV18 has
recently expanded into print with the acquisition of Infomedia, India's leading
player in the B2B publishing and printing operations space, and announced a
collaboration with Forbes media for the launch of a business magazine in India.
TV18’s well known internet portals include – www.in.com, www.moneycontrol.com, www.commoditiescontrol.com, www.poweryourtrade.com,
www.jobstreet.com,
www.compareindia.com,
www.cricketnext.com,
www.tech2.com,
www.easymf.com,
www.indiaearnings.com, www.newswire18.com,
www.ibnlive.com, www.buzz18.com and www.bookmyshow.com.