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TV18 profit up 373% to Rs 142 crore in Q4FY20

The profit for the financial year 2020 grew by 99%

TV18 Broadcast Limited has posted a consolidated net profit of Rs 142 crore in Q4FY20, up by over 373% compared to Rs 30 crore in the corresponding period of previous year. It had posted Rs 205 crore of profit after tax in Q3FY20.

Consolidated revenue from operations stood at Rs 1,425 crore in Q4FY20, up 21% from Rs 1,182 crore in Q4FY19. The company had recorded operating revenue of Rs 1,425 crore in Q3FY20.

TV18’s consolidated income from operations was also up 5% at Rs 5,175 crore in FY20 over Rs 4,943 crore in FY19. The company recorded a growth of 124% in its EBITDA in FY20. The FY20 EBITDA stood at Rs 703 crore versus Rs 314 crore in the previous year.

“Rise in ranking of our flagship Entertainment channel and upsurge in News consumption helped the group post growth in ad-revenues in the quarter, even as advertising was severely impacted during late-Q4 due to the COVID-19 related lockdown,” The company said in a regulatory filing. “Entertainment profitability continued its improved run despite ad-headwinds, led by subscription and syndication revenue streams and broad-based cost controls.”

The entertainment business grew by 26% in Q4 to Rs 1,124 crore versus Rs 893 crore in the corresponding period of the previous year. The EBITDA of the entertainment segment was recorded at Rs 206 crore, up 901% from Rs 21 crore in Q4FY19.

For the full financial year, the entertainment business including Viacom18, AETN18 and Indiacast posted a total operating income of Rs 4,025 crore, up 4% from Rs 3,863 crore in FY19. The EBITDA for the full year for entertainment business was Rs 606 crore, up 174% from Rs 221 crore in the previous year.

News business recorded total operating income of Rs 301 crore in Q4FY20, up 4% from Rs 288 crore in the corresponding period of the previous year. The EBITDA for the news segment stood at Rs 35 crore in Q4, up 11% from Rs 31 crore in Q4FY19.

For FY20, news business of TV18 recorded a revenue of Rs 1,150 and EBITDA of Rs 97 crore.

Adil Zainulbhai, Chairman of TV18, said, “The COVID-19 pandemic is a major black-swan event, which has dragged the economy and the advertising environment as a result. The immediate impact on ad-driven media industry will be significant; however an increasing proportion of subscription revenues will help us pull through. Amid uncertain times, the strength of our brands and our class-leading content creation capabilities continues to shine through. We are proud of the coverage being provided by the News18 Network despite trying circumstances. The growth in media consumption witnessed augurs well for the future, as some of the increased engagement will be sticky even once the pandemic tapers off. We have stayed the course on our digital impetus and sharp focus on profitability.”

Info@BestMediaInfo.com

Tags: TV18
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