TV18 records over 50% drop in Q2 FY16 net profit to Rs 20.26 cr

Despite registering growth in consolidated operating revenues, the network's profitability dropped due to investments made on new ETV news channels as well as bringing ETV regional entertainment channels under Colors umbrella brand name

BestMediaInfo Bureau | Mumbai | October 15, 2015

TV18 Broadcast saw an over 50 per cent drop in its profit after tax and share in profit of associate and minority interest for Q2 FY16 to Rs 20.26 crore from Rs 43.32 crore recorded in Q2 FY15.

The company posted profit after tax and minority interest of Rs 20.22 crore in H1 FY16 as opposed to a loss of Rs 111.32 crore in the half year ended September 30, 2014.

The quarterly operating revenues on a consolidated basis stood at Rs 608.5 crore in Q2 FY16, up by 10 per cent YoY from Rs 553.7 crore in Q2 FY15.

The half-yearly operating revenues on a consolidated basis stood at Rs 1205.2 crore in H1 FY16, a growth of 11 per cent YoY over Rs 1081.4 crore in H1 FY15.

Segment wise break-up

Through its media operations, TV18 Broadcast posted operating revenues of Rs 565.91 crore in Q2 FY16, while the same was pegged at Rs 533.82 crore in the corresponding quarter of last fiscal.

The half yearly income from media operations stood at Rs 1132.62 crore, compared to Rs 1047.24 crore in the corresponding period last fiscal. The revenues here have grown by Rs 85 crore.

In H1 FY16, there was loss of Rs 19 crore on account of new ETV news channels; there was also a one-time expense of Rs 10 crore for rebranding ETV regional entertainment channels as Colors.

The income through film production and distribution in Q2 FY16 stood at Rs 42.62 crore, a growth of over 200 per cent from the corresponding quarter last fiscal, where the income figure stood at Rs 19.85 crore.

Viacom18 Motion Pictures released four films during Q2 FY16 – Bollywood films 'Drishyam' and 'Manjhi', Paramount's 'Terminator Genisys' and 'Mission Impossible – Rogue Nation'.

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