Network18’s broadcasting subsidiary TV18 Broadcast has posted a net profit of Rs 82.51 crore for the quarter ended March 31, 2015 (Q1-FY17), compared to the net profit of Rs 78.29 crore from the preceding quarter. This represents a 5.39% increase. On a year-on-year basis, net profit declined 13.57% from Rs 95.47 crore profit in the same quarter last year.
The company reported total operational revenues of Rs 671.33 crore for the quarter, down 3.05% from Rs 692.42 crore in the previous quarter and up 6.6% from Rs 629.74 crore in the same quarter last year.
Media operations vs Film production
Revenues from the media operations business decreased by 2.66% to Rs 663.7 crore from Rs 681.85 crore in the previous quarter. Revenues from the media operations business increased 5.53% on a year-on-year basis from Rs 628.94 crore.
The revenues from TV18’s film production & distribution business increased to Rs 23.41 crore this quarter from Rs 10.57 crore in the preceding quarter. The business segment also saw a 387.7% increase from Rs 4.8 crore in the same quarter last year.
It’s worth noting that TV18 had stopped disclosing financial information pertaining to its news business and entertainment business from Q2-FY15. There is also no information on how IndiaCast or its infotainment business (AETN-18 India) performed during the quarter.
Earlier this month, changed the name of IBNLive.com as news18.com, as a part of a rebranding exercise which will also see CNN-IBN being renamed CNN News18.
The name News18 is not new to the Network18 group, which has a history of launching sites and then folding them into their other properties. News18 was launched in January 2014, as a news site which focused on states, and aggregated news from the ETV Network, which the Network18 group had acquired.
In December, TV18 renewed its partnership with US-based broadcaster CNN International and has extended its collaboration on the former’s English news channel CNN-IBN. In the second term of the partnership, CNN-IBN will get access to CNN’s reporters and senior editors around the world to provide international perspective.