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Network18 operational revenue declined 18% due to ad spend pullback

Network18 reported an 18% year-on-year (YoY) decline in operational revenue to Rs 387.7 crore for the quarter ended March 2017 (Q4 FY17). Reliance Industries-owned company reported an operational revenue of Rs 473.2 crore in the same quarter last year. For the full year, the company reported operational revenues of Rs 1,491 crore, a decline of 2% from Rs 1,527.3 crore last year. Network18 said segment profits were impacted due to "pullback in advertising spends in the latter half, operating losses of the new initiatives in regional and digital broadcasting, and losses in digital commerce businesses." Consolidated net loss for the quarter stood at Rs 33.32 crore compared to Rs 24.98 crore in the same quarter last year. Meanwhile, Network18 said that it is looking to sell Burrp, its restaurant search service. Web operations On a standalone basis, Network18’s web business reported revenues of Rs 16.05 crore. This was an increase of 16.2% from Rs 13.8 crore in the same quarter last year.  The segment reported a loss before tax of Rs 8.06 crore compared to the loss of Rs 7.2 crore in the same period last year. In the preceding quarter, the segment reported a loss of Rs 7.54 crore. Television operations Revenue from television operations (TV18 Broadcast), rose 7% in the year to Rs 2,677 crore from Rs 2,494.8 crore in the previous year. Net profit declined 90% to Rs 19.1 crore. "The media industry is still facing impact of deferment of advertising spends that kicked-in from November-December 2016 on likely slow-down…

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