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TV18 revenues at Rs 1,968.1 Cr for FY14; General News & Entertainment up, Biz News down


The revenues from the news business for TV18 declined year on year (YoY) to Rs 556.4 crore for the financial year ended March 31, 2014 (FY14), down 5.9% from Rs 591.3 crore revenues last fiscal. However, it was significantly more profitable at an operating level: a profit of Rs 116.9 crore for the fiscal, up from Rs 77.9 crore profit in the previous fiscal. The operating margins for the segment also improved to 21% from 13% last fiscal.

News business accounted for 28.3% of TV18’s overall revenues for the fiscal which was at Rs 1,968.1 crore for FY14, up 15.8% YoY.

For the quarter ended March 31, 2014, the news business however saw a marginal 3% YoY increase in its revenues to Rs 163 crore, from Rs 158.3 crore in the same quarter last year. The operating profit increased significantly by 67.8% YoY to Rs 43.3 crore from Rs 25.8 crore in Q4-FY13.

On the other hand, the company’s television entertainment business continues to show significant growth, posting revenues of Rs 715.4 crore for the fiscal, up from Rs 613.2 crore revenues in FY13. The operating profit almost tripled to Rs 108.4 crore from Rs 36.8 crore in FY13. Entertainment business accounted for 36.4% of TV18’s overall revenues for the fiscal.

On a quarterly basis, the television entertainment business posted revenues of Rs 176.9 crore, up 9% YoY while the net profit tripled to Rs 27 crore from Rs 9 crore profit in Q4-FY13.

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Note that there is a difference in the revenues numbers reported for FY13 this quarter and the same quarter last year, since TV18 seems to have clubbed its infotainment segment revenues with its news segment and also split its entertainment revenues to television and motion pictures revenues. TV18 mentions that it has also consolidated ETV News and ETV Entertainment results to TV18 results from January 22, 2014 to March 31, 2014. The company had completed the purchase of ETV Channels for Rs 2,053 crore on January 22, 2014.

General News: The profit from general news channels increased significantly to Rs 22 crore for the fiscal, from Rs 3.2 crore profit in the previous fiscal. The revenue however declined YoY to Rs 239.7 crore, down 6.7% from Rs 256.8 crore in the previous fiscal. The company says this was due to its focus on operational synergies, aided by Assembly elections in Q3-FY14 and General elections in Q4-FY14. General News accounted for 43.1% of TV18’s news revenues for FY14.

TV18 currently operates general news channels like CNN IBN, IBN7 and IBN Lokmat and earlier today, it appointed Times Television Network’s Avinash Kaul as the new CEO of its general news operations.

Business News: The profit from business news channels however declined to Rs 93.3 crore from Rs 100.8 crore in FY13. The revenue also declined to Rs 289.3 crore from 295.1 crore in FY13. Business News accounted for 52% of TV18’s news revenues for FY14.

The company informed that its business news operations sustained healthy operating margins of more than 30%, despite a market downturn and the absence of Union Budget in this financial year. TV18 currently operates business news channels like CNBC TV18, CNBC TV18 Prime HD, CNBC Awaaz and claims that both the channels are the market leaders in its respective categories.

Entertainment Operations: The operating profit for Viacom18 grew to 172.8 crore for FY14 from Rs 69.4 crore in the previous fiscal. The operating revenue was at Rs 1,982.2 crore. During the quarter, the company also launched a new free-to-air Hindi general entertainment channel Rishtey. Viacom18 also launched a youth channel MTV Indies which focuses on local independent and alternative music, film, art, culture and other content.

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ETV Operations: Following the acquisition of ETV News & entertainment channels, TV18 has also started disclosing revenues for ETV News and ETV entertainment from this quarter. ETV News has reported revenues of Rs 35.9 crore and an operating profit of Rs 14.5 crore for the quarter.  The company currently owns 100% stake in ETV News channels for Uttar Pradesh, Madhya Pradesh, Rajasthan, Bihar, Urdu, Bangla, Kannada & Haryana and owns 24.5% stake in ETV Telugu News.

ETV Entertainment reported revenues of Rs 62.9 crore and an operating loss of Rs 9.2 crore. TV18 currently owns 50% stake in ETV Marathi, ETV Kannada, ETV Bangla, ETV Gujarati & ETV Oriya and owns 24.5% stake in ETV Telugu.

IndiaCast RevenuesIndiaCast, the joint venture between TV18 and Viacom18 which currently manages the TV18′s and Viacom18′s distribution operations, reported an operating profit of Rs 3 crore for FY14, as compared to Rs 0.5 crore loss in FY13. The operating revenue was at Rs 729 crore for the year, up from Rs 390 crore in the previous year.

Infotainment Business reports profitAETN-18 India, the joint venture between Network18 group and A&E Television Networks, reported a profit of Rs 1.6 crore for the fiscal, as compared to Rs 26.1 crore loss in the previous fiscal. The total revenues however declined to Rs 27.8 crore for FY14, down from Rs 39.5 crore in FY13.

Other Highlights

– TV18 has reported an operating profit of Rs 210.5 crore and total revenues of Rs 1,968.1 crores for the fiscal, as compared to Rs 112.1 operating profit and total revenues of Rs 1,699.1 crore in the previous fiscal.
– For the quarter ending March 31, 2014, TV18 reported an operating profit of Rs 69.7 crores and a profit after tax of Rs 22.4 crore. It reported total revenues of Rs 563.3 crore for the quarter.
– The  motion pictures operations posted a loss of Rs 23 crore for FY14, as compared to Rs 2.1 crore loss in FY13.
– Net Distribution Income was at Rs 178 crore for FY14. Net Distribution income is the subscription revenues earned by the company after deducting the carriage fees and any promotions or commission paid during the quarter. TV18′s broadcasting operations started reporting net distribution income from Q2 2013.
– Net debt at a consolidated level now stands at Rs. 242 crore. This includes net debt of ETV for FY14.
– Advertising revenues was Rs 1,162.6 crore for the fiscal FY14, up from Rs 1,048.3 crore in the previous fiscal.
– Subscription revenues was at Rs 200.1 crore for FY14, up from Rs 118.4 crore in FY13.

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