Network18 reports 9% rise in Q3 FY16 profit

Consolidated operating PDBIT is up by 28% y-o-y at Rs 85.7 crore. Nine-month FY16 consolidated operating revenues were up by 9% y-o-y at Rs 2,500.4 crore

BestMediaInfo Bureau | Mumbai | January 18, 2016

Network18 Media and Investments Ltd on Friday announced its results for the quarter and nine months ended December 31, 2015. Operating revenues on a consolidated basis stood at Rs 905.6 crore in Q3 FY16, up by 9% y-o-y from Rs 831.9 crore in Q3 FY15.

Q3 FY16 consolidated operating PBDIT stood at Rs. 85.7 crore, up by 28% y-o-y from Rs 67.1 crore in Q3 FY15.

Q3 FY16 consolidated Profit Before Tax stood at Rs 49.6 crore, up by 122% y-o-y, from Rs 22.4 crore in Q3 FY15.

Nine months (9M) FY16 operating revenues on a consolidated basis stood at Rs 2,500.4 crore, up by 9% y-o-y from Rs 2,285.1 crore in 9M FY15.

9M FY16 consolidated operating PBDIT stood at Rs 105 crore, up by 8% y-o-y from Rs 97.2 crore in 9M FY15.

9M FY16 other income includes profit of Rs.43 crore on sale of stake in Stargaze Entertainment.

9M FY16 includes operating loss of Rs 45 crore on account of new ETV news channels and launch of Colors Infinity and also a one-time expense of Rs 10 crore for rebranding ETV regional entertainment channels as Colors.

The financials of Prism TV have been consolidated as a Joint Venture effective August 1, 2015 as Prism ceased to be a subsidiary and continues as a Joint Venture of the Company from the aforesaid date.

Network18 is one of the largest digital media companies in India attracting traffic of over 23 million unique visitors per month in Q3 FY16.

Television operations

CNBC-TV18 and CNBC Awaaz continued to be the No.1 business news channels in their respective genres with 41% and 53% market share, respectively.

CNN-IBN continued to be a consistent player, reaching out to more than 36 million viewers. CNN IBN emerged as the #3 General English News channel with 19% Market Share.

IBN Lokmat reached out to 34 million viewers during the quarter and emerged as the #3 Marathi News channel with 28% Market Share.

In the GEC category, Colors was the No.1 pay channel in December, with a viewership share of 13%1. MTV was No.2 in its genre with a viewership share of 25%.

In the English Entertainment space, Vh1 was the No.1 in the English entertainment and music Genre with 24% market share.

Nick continued to lead the Kids genre with a viewership share of 30%.

History TV18 has been consistent at No.2 in the genre across 6 Megacities, with a viewership share of 24%.

Publishing

Network18 has three leading brands, 'Overdrive', 'Better Photography', and 'Better Interiors', across print and digital media. Overdrive had close to 3 million page views and over 540,000 unique visitors per month.

Forbes India saw the highest number of subscriber copies circulated for any month in December 2015.

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