Network18’s broadcasting subsidiary TV18 Broadcast has posted a net profit of Rs 60.38 crore for the quarter ended December 30, 2014 (Q3-FY15), as against a net profit of Rs 43.22 crore in the previous quarter and a profit of 51.68 crore in Q3-FY14.
The company reported total operational revenues of Rs 607.2 crore for the quarter, up 9.66% % from Rs 553.7 crore in the previous quarter and up 16%from Rs 525.5 crore in the same quarter last year.
It is interesting to note that Network18 has mentioned that the consolidated results of the quarter is not comparable to the corresponding quarter last year, as it included results from Equator Trading Enterprises (and its subsidiaries Panorama Television & Prism TV) that became a wholly owned subsidiary of Network18 in January last year and Eenadu Television that became an associate company in the same month.
CNBC Bajar performance: The company’s newly launched Gujarati news channel, CNBC Bajar, showed a viewership increase of 182% FY15 over Q2 FY15 but that can be attributed to a lower base as the channel began operations in July. However, the channel made tied-up with media and entertainment company K Sera Sera limited to air several programs and host investor education conferences
MTV’s digital push: During the quarter, MTV launched a humour video site called killboring.in and the company says it gets an average of two million visits per month. MTV also tied up with LinkedIn to create “MTV Get a Job” where students could get a chance to interne with select companies. The Pepsi MTV Indies App received over 1,55,000 sessions in Q3 FY15 across Android and iOS.
Media operations vs Film production
Revenues from the media operations business grew to Rs 605.15 crore, up 13.36% from Rs 533.83 crore in the previous quarter. On the other hand, revenues from TV18’s film production & distribution business was down by 39.57% to Rs 11.20 crore for the quarter, up from Rs 19.85 crore in the previous quarter.
It’s worth noting that TV18 has stopped disclosing financial information pertaining to its news business and entertainment business from the previous quarter. There is also no information on how IndiaCast or its infotainment business (AETN-18 India) performed during the quarter.
Download – Press Release | Financials
Also read:
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– Network18 says Digital Content business has turned around, but stops sharing data
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