Network18 reported a consolidated operating EBITDA of Rs 18 crore in Q1FY19 (a sharp turnaround YoY), led by improved profitability of broadcast business. EBITDA margin for Entertainment business improved significantly, and losses in Regional News also reduced. Consolidated operating revenues at Rs 1,124 crore grew 10% YoY (on a comparable basis).
Network18 reported a loss of Rs 113 crore, up 151% from Rs 45 crore in the corresponding quarter of the previous year.
TV18 reported a consolidated operating EBITDA of Rs 39 crore in Q1FY19 (a sharp improvement YoY), despite impact of losses from the startup of Colors Tamil. Consolidated operating revenues at Rs 1,088 crore grew 11% YoY (on a comparable basis). Subscription revenues for entire bouquet grew 10% YoY. Advertising and other revenues benefitted from the improving industry environment and our full-portfolio offering.
The consolidated losses for the company grew to Rs 7 crore from Rs 1 crore in the corresponding quarter of the previous year. On standalone basis, TV18 posted a net profit of Rs 9 crore, down 69% from Rs 29 crore in the corresponding quarter of previous year.
Adil Zainulbhai, Chairman of Network18, said, âWe have begun the new fiscal with improved viewership across our portfolio, which shall be the foundation for our growth plans. We continued investments in regional news and entertainment and in digital. We continue to see opportunities in the media space.
Our television channels reach out to 700 million people across the country, making every 1 in 2 Indians our consumer. We have 53 domestic channels across news and entertainment, making us a formidable player. The improving advertising environment and our rising viewership are positives, as we continue investing into growing our offerings across genres.â