Television

Q3-2014 : Network18 EBIDTA rises almost six-fold y-o-y

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BENGALURU:  Network18 Media & Investments Limited (Network18) announced operating profit of Rs 61 crore in Q3-2014 which was almost six times the operating profit of Rs 10.6 crore in Q3-2013 and more than triple the operating profit of Rs 20.1 crore in the immediate trailing quarter.

Note: Proforma results are assuming financial consolidation of ETV News (100 per cent) and ETV Entertainment (50 per cent). On 22 Jan 2014, post receipt of required regulatory approvals, TV18 completed the acquisition of the ETV channels – 100 per cent of ETV News, 50 per cent of ETV Entertainment and 24.5 per cent of ETV Telugu.

Revenue for the quarter grew by 4.33 per cent to Rs 727.6 crore in Q3-2014 from Rs 697.4 crore in the corresponding quarter of last year and 8.63 per cent more than the Rs 669.8 crore during Q2-2014.

Proforma reported revenues on a consolidated basis stood at Rs 595.9 crore for the quarter, up five per cent over prior year. Proforma Operating Profit (EBITDA) came in at Rs 94.5 crore (up 79 per cent y-o-y) led by a strong performance in ETV News says the company.

Its Digital Content and Commerce business showed growth along with more than halving of operational loss, saw a growth of 25.25 per cent to Rs 149.8 crore in the current quarter from Rs 119.6 crore in Q3-2013 and by 20 per cent from the Rs 124.8 crore in the immediate trailing quarter. The operational loss reported by this segment at Rs (14.1) crore was less than half (45 per cent) the loss of Rs 31.3 crore reported in Q3-2013, but was 51.6 per cent more than the loss of Rs (9.3) crore in Q2-2014.

Let us look at the other figures reported by Network18:

Network18’s Television and Motion Pictures segment reported (mainly TV 18) reported revenue of Rs 525.5 crore in Q3-2013, which was 2.6 per cent more than the Rs 512.4 crore in Q3-2013 and 8.75 per cent more than the Rs 483.2 crore in Q2-2014. This segment reported an operating profit of Rs 77.5 crore in Q3-2014, up 61.12 per cent as compared to the Rs 48.1 crore in the corresponding period of last year. Q-o-q, its EBIDTA was almost double (1.96 times) the Rs 39.6 crore in Q2-2014.

Revenue from its other segment, Allied Businesses saw a drop of (28) per cent to Rs 58.1 per cent in Q3-2014 from Rs 80.7 crore in Q3-2013 and a fall of (12.8) per cent from Rs 66.6 crore in Q2-2014. Loss from this segment fell 34 per cent to Rs 6 crore in Q3-2014 from Rs 9.1 crore in Q3-2013 and fell by 36.8 per cent from Rs 9.5 crore in Q2-2014.

Network18’s net loss for the quarter for Q3-2014 was Rs (11.72) crore as compared to a profit of Rs 6.85 crore in the corresponding quarter of last fiscal and less than a third (29.4 per cent)  of the Rs (39.84) crore reported during the immediate trailing quarter.

Total expense for Q3-2014 at Rs 687.59 crore was (3.2) per cent lower than the Rs 710.27 crore in Q3-2013 and 2.6 per cent more than the Rs 670.1 crore in Q2-2014.

Network18 paid (1.8) per cent less towards programming cost in Q3-2014 at Rs 155.94 crore a compared to the Rs 158.83 crore in Q3-2013 and 8.4 per cent Rs 143.84 crore in Q2-2014.

Distribution, advertising and business promotion expense for Q3-2014 at Rs 221.27 crore  was (11) per cent less than the Rs 228.53 crore in Q3-2013 and (5.4) per cent less than the Rs 233.77 crore in Q2-2014.

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