One-time adjustment of Rs 1045.3 cr; Network18 - GEC and news segments grow in Q1-2015

BENGALURU:  Network18 Media and Investments Limited (Network18) said that it has made a one-time exceptional adjustment of Rs 1,045.3 crore in Q1-2015 and reported a loss of Rs 1,021.88 crore in the quarter ended 30 June 2014 as compared to a loss of Rs 4.12 crore in Q4-2014 and a profit of Rs 18.90 crore in Q1-2014. The company reported 27.3 per cent higher operating income at Rs 708.4 crore in Q1-2015, but 4.1 per cent lower than the Rs 738.32 crore in Q4-2014.

Network 18’s Media operations segment reported 28.8 per cent higher revenue at Rs 694.08 crore in Q1-2015 as compared to the Rs 538.81 crore in Q1-2014, but 4.3 per cent lower than the Rs 725.31 crore in Q4-2014. The segment reported higher operating loss of Rs 83.87 crore in Q1-2015 as compared to an operating loss of Rs 39.85 crore in Q1-2014 and an operating profit of 62.07 crore in Q4-2014. 

Note: 100,00,000 = 100 lakhs = 10 million = 1 crore.

Let us look at the other figures reported by Network 18 for Q1-2015

Network 18’s operating loss reduced 37 per cent from Rs 70.1 crore in the last year’s correspon ding quarter to Rs 43.9 crore in Q1-2015. The company attributes the improvement in operating loss to a strong growth delivered by its television operations from the general entertainment and new segments. 

Network 18’s film production and distribution segment reported 23.8 per cent drop in revenue in Q1-2015 at Rs 14.32 crore as compared to the Rs 18.79 crore in Q1-2014 and 2.27 times less than the Rs 35.53 crore in Q4-2014.

The company’s total expenditure in Q1-2015 at Rs 733.45 crore was 19.9 per cent more than the Rs 611.82 crore in Q1-2014 and one per cent more than the Rs 726.06 crore in Q4-2014. 

Network18’s programming cost has almost doubled (up 1.91 times) to Rs 169.54 crore (23.9 per cent of TIO) in Q1-2015 as compared to the Rs 88.87 crore (18.1 per cent of TIO) in Q1-2014 and was 26.7 per cent more than the Rs 133.82 crore (16 per cent of TIO) in Q4-2014. 

The company’s finance cost was down 2.6 per cent to Rs 30.88 crore in Q1-2015 as compared to the Rs 31.71 crore in Q1-2014 and was 3.7 per cent less than the Rs 32.08 crore in Q4-2014.

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