FY09 was a busy year for Television Eighteen India, a subsidiary of Network 18 group. It has posted consolidated revenues at Rs. 4.9 billion, up by 23% from FY08. Consolidated losses logged Rs. 1,663.84 million for the year, compared to Rs. 53.91 million in profits in fiscal 08.
On a standalone basis, revenues were Rs. 3.19 billion, up 9% from FY 08 and the company made a net profit of Rs. 198.2 million, down 34% from last fiscal. Standalone, basic earnings per share (EPS) was Rs. 1.65 down from Rs. 2.66 in FY08 while consolidated EPS was a negative Rs. 13.89, compared to Rs. 0.48.
Key Corporate Developments During The Quarter
The company claims its two channels – CNBC TV18 and Awaaz – together lead the business news genre of television with 66% share of marketshare, quoting TAM.
CNBC TV18 also claims to be far ahead of its competitors Times Now and NDTV 24×7, NDTV Profit, UTVi and Headlines Today according to TAM data. The channel has a new competitor in ET Now, recently launched by BCCL and Thomson Reuters. How will CNBC TV18 handle the newcomer?
Newswire 18, though challenged by subscription cancellations which amounted to 35% of new business generated in the year, was able to hold strong and grew its revenues by 99% year on year. It even launched its services in two new cities – Guwahati and Nagpur.
Its product – Workstation – offers updates from local and global stock exchanges, currency rates etc and has over 100 NSE-listed companies as subscribers. Workstation competes with products from global giants Reuters and Bloomberg.
Infomedia 18 launched Forbes magazine in India, entered into a partnership with Alibaba.com and acquired AskMe and Burrp. The print edition of Yellow Pages was given a redesign, and the new look was unveiled in Hyderabad. Infomedia’s revamp is still ongoing and will add more revenue streams and be more cost effective once complete, Raghav Bahl, TV18 managing director has said. Our analysis of its earnings released in May is here.
– Updated: Infomedia 18 To Acquire Burrp; Not A Related Party Transaction
– Round Up: Loop Goes To TN, Orissa; Saavn-Hulu Tie Up; TV18 Raises Rs.5 B To Repay Debts
– Updated: Q409 Results: Infomedia18 QoQ Net Loss Shoots Up 51% To Rs 462 Million; AskMe Delayed? Reed JV