Network18 posts Q4, FY2011 revenue up 15%

Operating profit of Rs.48 crores for the year, compared to an operational loss of Rs.61 crores in FY'10.

BestMediaInfo Bureau | Delhi | May 31, 2011

Network18 Group has announced its results for the Financial Year 2010-11 and the last quarter of the year ended March 31, 2011.

Key Highlights for FY2010-11 and Q4 2010-11

• Consolidated revenues for the year 2010-11 stood at Rs. 1,484 crores for the year, up 21%, compared to the last year, 2009-10 (adjusted for the sale of Infomedia?s BPO unit). Consolidated revenues for the fourth quarter were Rs. 406 crores, up 15% over the corresponding quarter last year.
• Network18 delivered a robust operating profit (EBITDA) of Rs. 48 crores for the year, compared to an operational loss of Rs. 61 crores in the last year, signaling that the investments in the various operating businesses over the last few years are on track to deliver on their potential.
• Our Television Business turned in a sterling performance as reported revenues grew to Rs. 1,110 crores, a growth of 23% over last year, crossing a thousand crores for the first time. Operating Profit (EBITDA) surged to Rs. 135 crores for the year from Rs. 15 crores in the last year.
• We consolidated our market leadership positions across all our business segments.
• Television News and Entertainment - 6/9 TV channels were No 1 for the year
• Digital and eCommerce – Network 18 is the largest Indian digital media company globally as per the Comscore World Report – March 2011 and our eCommerce properties continue to build on their market leadership.

Announcing the results, Raghav Bahl, Managing Director, Network18 said, “2010-11 was a decisive year for the group. I am delighted to report to our stakeholders that we returned to profitability, signaling the onset of a new growth phase in the group's journey with our Television and Digital businesses performing to our expectations. The “Scheme of Arrangement? that we announced during the year, aimed at optimization of our group companies was recently approved by the Honourable High Court. This will allow us to further consolidate our leadership position and continue on our strong profitable growth trajectory.”

Commenting on the results for the year, Haresh Chawla, Group CEO, said, “FY 2010-11 was a great year and our various businesses – News, Entertainment and Digital; performed well on all parameters – advertising revenues, profit margins and market share. We expect our growth to be further strengthened over the next year by an expected uptick in our subscription revenues and increased momentum in our emerging digital businesses.”

Click here to download complete results.

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