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TV18 reports Rs 20.26 crore profit for Q2-FY16

TV18

Network18’s broadcasting subsidiary TV18 Broadcast has posted a net profit of Rs 20.26 crore for the quarter ended September 20, 2015 (Q2-FY16), an increase from the net loss of Rs 0.04 crore from the previous quarter, although a decrease from Rs 43.22 crore profit in the same quarter last year.

The company reported total operational revenues of Rs 608.53 crore for the quarter, up 2% from Rs 596.67 crore in the previous quarter and up 9.9% from Rs 553.67 crore in the same quarter last year.

Media operations vs Film production

Revenues from the media operations business fell marginally by 0.07% to Rs 565.91 from Rs 566.31 crore in the previous quarter. The revenues from TV18’s film production & distribution business also declined this quarter to Rs 42.62 crore from Rs 52.6 crore in the preceding quarter, although although year-on-year the business saw a 114.7% increase from 19.85 crore same quarter last year. The film and distribution revenues represented 7% of the total revenues this quarter compared to 8.5% in the preceding quarter.

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.

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Operational highlights

– The company launched Colors Infinity, an English channel, during the current quarter, and incurred a loss of Rs.19 crore

– The company said that MTV garnered a viewership of over 5.5 million during the quarter. On the other hand, regional channels like ETV Bihar Jharkhand and ETV Rajasthan garnered a viewership of 8 million and 12 million average monthly viewers.

– Last quarter, CNN-IBN said it would lose its prefix as it ended its 10-year brand licensing deal with Turner Broadcasting System. Both the companies asserted that this wasn’t a breakup but rather a mutual agreement to not renew the brand licensing agreement.

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