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TV18 net profit lower 13.57% YoY due to lower operational income

TV18

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.

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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.

Rebranding

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.

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