Television

Q1-2016: Network18, TV18 report y-o-y revenue growth

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BENGALURU: Network18 Media & Investments Limited (Network18) reported 12 per cent growth in consolidated income from operations (TIO) to Rs 793.65 crore in the quarter ended 30 June, 2015 (Q1-2016) as compared to the Rs 708.39 crore in Q1-2015. TIO in Q1-2016 was however 5.7 per cent lower than the Rs 841.43 crore in Q4-2015. 

The company reported a consolidated loss of Rs 5.96 crore in the current quarter as compared to the massive onetime adjustment loss of Rs 1156.50 crore after the Mukesh Ambani led Reliance Industries Limited took over the company. Network18 had reported a profit after tax (PAT) of Rs 45.33 crore in Q4-2015.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

The company?s Media Operations segment, TV18 Broadcast Ltd, in which Network18 has holdings, reported a 3.5 per cent growth in revenue to Rs 718.79 crore in Q1-2016 from Rs 694.08 crore in Q1-2015, but reported a decline of 13.7 per cent from the Rs 832.63 crore in the immediate trailing quarter. The segment reported a lower operating loss of Rs 15.80 crore in the current quarter as compared to an operating loss of Rs 83.72 crore in Q1-2015 and an operating profit of Rs 58.64 crore in Q4-2015.

Network18?s Film Production and Distribution (Film) segment reported more than threefold increase (3.67 times) in revenue to Rs 52.61 crore in Q1-2016 as compared to the Rs 14.32 crore in Q1-2015 and an almost eleven fold increase from the Rs 4.8 crore in Q4-2015. The film segment reported an operating profit of Rs 1.34 crore in Q1-2016 as compared to a loss of Rs 0.95 crore in Q1-2015 and a loss of Rs 2.44 crore in Q4-2015.

The company?s Earnings before interest, taxes, depreciation and amortisation (EBIDTA, includes other income) in Q1-2016 at Rs 49.1 crore (6.2 per cent margin) was almost double (1.99 times) the Rs 24.7 crore (3.5 per cent margin) in Q1-2015, but was less than half again as much (49.3 per cent) of the Rs 99.6 crore in Q4-2015.

Network18 reported 10.7 per cent increase in total expenditure to Rs 811.9 crore (102.3 per cent of income from operations) in Q1-2016 as compared to the Rs 733.5 crore (103.5 per cent of income from operations) in Q1-2015 and 2.9 per cent more than the Rs 789 crore (93.8 per cent of income from operations) in Q4-2015.

Network18 employee benefit expense in Q1-2016 at Rs 159.8 crore (20.1 per cent of income from operations) was 8.9 per cent more than the Rs 146.8 crore (20.7 per cent of income from operations) in Q1-2015 and was 11.3 per cent more than the Rs 143.6 crore (17.1 per cent of income from operations) in Q4-2015.

Network18 programming cost in Q1-2016 at Rs 206.3 crore (26 per cent of income from operations) was 21.7 per cent more than the Rs 169.5 crore (23.9 per cent of income from operations) in Q1-2015 and was almost flat (0.8 per cent lower) than the Rs 208 crore (24.7 per cent of income from operations) in the immediate trailing quarter.

TV18 Broadcast Limited

TV18 reported a 13.1 per cent growth in consolidated income from operations to Rs 596.7 crore in Q1-2015 as compared to the Rs 527.7 crore in Q1-2015, but a 5.2 per cent decline as compared to the Rs 629.7 crore in Q4-2015. TV18 reported a loss of Rs 4.2 crore in the current quarter as compared to the onetime adjustment loss of Rs 214.2 crore in Q1-2015 and a profit of Rs 86.3 crore in the immediate trailing quarter.

TV18?s EBIDTA (including other income) in Q1-2016 at Rs 20 crore (3.4 per cent margin) was a little more than one third (37.4 per cent) of the Rs 53.5 crore (10.1 per cent margin) and less than one-fifth (15.6 times) the Rs 111.3 crore (17.7 per cent margin) in Q4-2015.

TV18?s total expenditure in Q1-2016 increased 17 per cent to Rs 595.9 crore (99.9 per cent of income from operations) from Rs 509.5 crore (96.6 per cent of income from operations) and increased 7.4 per cent from Rs 555.1 crore (88.2 per cent of income from operations) in Q4-2015. 

A major expenditure increase was TV18?s marketing, distribution and promotional expense in Q1-2016 by 33 per cent to Rs 135.9 crore (22.8 per cent of income from operations) from Rs 102.2 crore (19.4 per cent of income from operations) in Q1-2015 and an increase of 19.7 per cent as compared to the Rs 113.5 crore (18 per cent of income from operations) in the immediate trailing quarter.

Click here to read unaudited financial of Network 18

Click here to read investor presentation of TV18

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