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Film business boosts TV18 revenue

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BENGALURU: Indian news, entertainment and film company TV18 Broadcast Ltd (TV18) reported triple the revenue from its film business for the year ended 31 March 2018 (FY 2017-18, the year under review) as compared with the previous fiscal. Consequently, the company’s consolidated operating revenue increased by 70 per cent in FY 2017-18 as against FY 2016-017. TV18's operating revenue, including GST for the year under review, was Rs 1,665 crore vis-a-vis Rs 979 crore. It may be noted that GST was not applicable in FY 2016-17. Revenue for the film business for the year under review was Rs 450 crore as compared with Rs 150 crore in the previous year. The numbers have been rounded off to the nearest Rs crore.

The company has turned the corner only recently. Profit after tax increased by 33 per cent to Rs 8 crore in FY 2017-18 in comparison with Rs 6 crore in the year before. The company reported total comprehensive income of Rs 9 crore for FY 2017-18 as against loss of Rs 2 crore in the previous year. Operating profit increased by 87.1 per cent to Rs 58 crore during the year under review as compared with Rs 31 crore in FY 2016-17.

Network18 chairman Adil Zainulbhai said, “We continue to invest into filling whitespaces, and creating the most compelling bouquet for the Indian consumer. This complements the strong performance of our flagships.”

Based on its current structure of ownership, TV18 has restated its consolidated numbers. Consolidated restated revenue increased by 16 per cent in FY 2017-18 to Rs 4,813 crore from Rs 4,142 crore. Consolidated operating EBIDTA in FY 2017-18 increased by 41 per cent to Rs 240 crore from Rs 170 crore in FY 2016-17.

Majority of TV18’s income comes from its entertainment business, which comprises Viacom18 and Indiacast. The company says in its earnings press release that entertainment income grew by 10 per cent in FY 2017-18 to Rs 3,781 crore from Rs 3,160 crore. Operating EBIDTA of the entertainment business increased by 43 per cent in FY 2017-18 to Rs 198 crore from Rs 139 crore in FY 2016-17.

TV18’s standalone business comprises business and general news. Standalone income increased by 10 per cent during FY 2017-18 to Rs 735 crore from Rs 667 crore. Standalone operating EBIDTA declined by 29 per cent in FY 2017-18 to Rs 157 crore from Rs 122 crore in the previous year.

Regional news (ex-IBN Lokmat) and infotainment revenue decreased by 8 per cent to Rs 297 crore in FY 2017-18 from Rs 316 crore in FY 2016-17. Regional News (ex-IBN Lokmat) and infotainment operating EBIDTA loss was higher at Rs 115 crore in FY 2017-18 as against loss of Rs 91 crore in the previous year.

Restated fourth quarter numbers

The company said in its earnings press release that restated consolidated operating revenue grew by 41 per cent in the quarter ended 31 March 2018 (Q4 2017-18, the quarter under review) to Rs 1,540 crore from Rs 1,092 crore. Consolidated operating EBIDTA grew by 41 per cent to Rs 61 crore from Rs 44 crore.

Entertainment income grew by 51 per cent in Q4 2017-18 to Rs 1,228 crore from Rs 812 crore. Operating EBIDTA of the entertainment business more than doubled (increased by 120 per cent) in Q4 2017-18 to Rs 38 crore from Rs 17 crore in Q4 2016-17.

TV18’s standalone business consists of business and general news. Standalone income increased by 12 per cent during the quarter under review to Rs 228 crore from Rs 203 crore. Standalone operating EBIDTA declined to 20 per cent in Q4 2017-18 to Rs 50 crore from Rs 63 crore in the corresponding previous year’s quarter.

Regional news (ex-IBN Lokmat) and infotaiment revenue grew by 8 per cent to Rs 84 crore in Q4 2017-18 from Rs 77 crore in Q4 2016-17. Regional news (ex-IBN Lokmat) and infotainment operating EBIDTA loss was lower at Rs 26 crore in Q4 2017-18 as against loss of Rs 36 crore in the corresponding quarter of the previous year.

Network18 Media and Investments Ltd results

TV18 is a subsidiary of Network18 Media and Investments Ltd (Network 18). TV18 has taken operational control and has increased its stake in Viacom18 to 51 per cent by acquiring 1 per cent from its joint venture partner Viacom Inc. Besides TV18, Network18’s digital and print business adds to its numbers.

Network18 reported 16 per cent growth in its consolidated operating revenue to Rs 5,027 crore in FY 2017-18 from Rs 4,333 crore in FY 2016-17. Consolidated operating EBIDTA increased by 42 per cent to Rs 187 crore in FY 2017-18 from Rs 132 crore in FY 2016-17.

TV18 numbers have been mentioned above. Network18’s digital and print business operating revenue increased by 12 per cent to Rs 213 crore from Rs 191 crore. Digital and print business operating EBIDTA rose by 193 per cent to Rs 31 crore from Rs 10 crore.

Zainulbhai said about Network18, “We are continuing our investments in digital and regional content and seeing growth in most segments of our business.”

Also Read:

TV18 to increase Viacom18 stake to 51%

TV18 completes acquisition of Viacom shares

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