Advertising revenues grew 11% year-on-year on a consolidated basis. Company launches MTV Indies, Rishtey in entertainment segment, also strengthens regional hold
BestMediaInfo Bureau | Mumbai | May 28, 2014
TV18 has reported its results for the financial year ending March 2014.Â The company's annual revenue on a consolidated basis has increased by 15.8% to Rs 1,968.1 crore. EBITDA has jumped to Rs 210.5 crore. Advertising revenues have also grown 11% year-on-year on a consolidated basis.
Operating profits has seen an over 100% jump from Rs 114.2 crore to Rs 233.6 crore. General News delivered a 6.9x growth in annual operating profits and grew to Rs 22 crore. Business News remained stable despite a downturn in the markets and the absence of the Union Budget. Infotainment broke into positive territory and the Entertainment television business registered a 2.9x growth in operating profits (EBITDA) which stood at Rs 108.4 crore.
Raghav Bahl, Managing Director, Network18, said, â€śWe are enthused by the outstanding performance of TV18 for this financial year. All our businesses contributed positively to achieve our highest ever post-tax profits of Rs 103.6 crore, despite the continued uncertainty in the macroeconomic environment. We are confident of sustaining our growth trajectory as we continue to extract value from our existing operations as well as profitably grow our newer initiatives.â€ť
The company's quarterly numbers were also good with revenues rising 18.7% y-o-y. Advertising revenues stood at Rs 357.8 crore. The Entertainment and General News businesses witnessed encouraging advertising revenue growth. Net Distribution Income (NDI) continued its strong financial performance through the quarter.
The group also launched two new channels in the entertainment segment â€“ MTV Indies and Rishtey. In the regional markets, they extended their footprint with the successful launch of ETV Bangle, ETV Kannada and ETV Haryana.
B Saikumar, Group CEO, Network18, said, â€śWe are extremely pleased that all our broadcast operations continued to deliver their margins despite softness in the advertising environment. IndiaCast has delivered a stellar swing in net distribution income. While our Business News operations remained stable, our General News operations, led by CNN IBN, have turned around this year due to a strong focus on operational synergies, further aided by the elections. Infotainment operations at A+E Networks / TV18 broke into positive territory. Our broadcast Entertainment business at Viacom18, led by Colors, profitably grew operations along with the successful launch of Rishtey and MTV Indies. We are focused on delivering a strong performance in the coming year, as we look forward to an improving media landscape.â€ť