Network18 records profit before tax of Rs 5.8 cr in Q1 FY16; TV18 slides into loss of Rs 4.2 cr

Network18's operating revenues stood at Rs 793.6 crore in Q1 FY16, up by 12 per cent. Operating revenues of TV18 stood at Rs 596.7 crore, up by 13 per cent

BestMediaInfo Bureau | Mumbai | July 23, 2015

Network18 Media & Investments and TV18 Broadcasting have announced their results for the first quarter ended June 30, 2015. Network18, which is a holding company of TV18, recorded a profit before tax of Rs 5.8 crore in Q1 FY16, turning positive from a loss of Rs 43.9 crore in the corresponding quarter of FY15.

Network18's operating revenues on a consolidated basis stood at Rs 793.6 crore in Q1 FY16, up by 12 per cent YoY from Rs 708.4 crore in Q1 FY15.

The consolidated EBITDA for the quarter stood at Rs 49.1 crore, a jump of 99 per cent YoY from Rs 24.7 crore in Q1 FY15. EBITDA for the current quarter includes profit of Rs 43.3 crore on sale of stake in Stargaze Entertainment.

On the other hand, TV18, which has a 50 per cent holding in Viacom18, recorded negative profit before tax. The company recorded a loss before tax of Rs 4.2 crore, a drop of more than 50 per cent over the Q1 FY15 profit of Rs 9.1 crore.

The consolidated operating revenues for Q1 FY16 stood at Rs 596.7 crore, up by 13 per cent YoY from Rs 527.7 crore in Q1 FY15.

The Operating PBDIT for Q1 FY16 stood at Rs 11.8 crore, compared to Rs 47.7 crore in Q1 FY15, a significant drop of more than 50 per cent from the corresponding quarter of the previous fiscal.

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