Network 18's consolidated revenues for Q3 2011-12 Rs. 503.8 Cr

Announcing the results, Raghav Bahl, Managing Director, Network18 said that, "In the quarter gone by, notwithstanding the challenging macroeconomic environment, Network18 continued to perform steadily and our business continued to consolidate and grow. We invested in further building our television bouquet with four successful channel launches. At the beginning of the year, we also announced a transformational deal which will result in making the group debt free and expanding our regional TV footprint. Over the next few quarters, we will work towards a successful consummation of the acquisition while we continue to build and consolidate our existing businesses."

Commenting on the results for the quarter, Sai Kumar, Group CEO, said, "It has clearly been a sluggish phase for the industry as a whole. Advertising revenues continue to exhibit lacklustre growth and may continue at the same pace over the next few months. Our subscription revenues are on track as projected. During the last quarter, our profits from ontinuing operations were offset by largely one-time costs incurred towards investments in the expansion of our television channel portfolio and the conscious impairment of our film library given the deferment of our Hindi Movies channel. We strengthened our television stable further with launch of new services such as History TV18, Sonic and our HD bouquet comprising of Colors HD, History TV18 HD and CNBC-TV18 Prime HD."

Television Business

Steady quarter with consolidated revenues at Rs. 342.8 crores and an operating profit of Rs. 28.5 crores from operations excluding one-timers. (Loss of Rs. 33.9 crores on a reported basis)

- Consolidated Revenues were up 9% from Rs. 314.5 crores (proforma) against the corresponding quarter last year.

- Launched four channels during the quarter ' History TV18, Sonic, Colors HD and CNBC TV18 Prime HD. History TV18 has already emerged as the No. 2 channel in the genre and is

- During the quarter, partially impaired our film library consequent to the deferment of the proposed Hindi movie channel.

News Operation

Business News Operations delivered a steady quarter and our revenues increased by 11% (Q3FY12 over Q3FY11).

- Our Business News Channels ' CNBC TV18 and CNBC Awaaz continued to be market leaders during the quarter.

rich and in-depth live financial data and news alerts, through a unique ž2 windowŸ screen architecture.

b. In the General News Operations, CNN IBN consolidated its leadership position as the channel of choice for English audiences in a highly competitive market.

- CNN-IBN Indian of the Year 2011, IndiaŸs most credible honour with a four-tier process in its 6th edition; felicitated the Indian(s) whose contribution to the country in a calendar year that has strengthened the foundation of our society and has helped build Brand India in the process.

- IBN Lokmat celebrated the festive season with a host of well received special programmes and was also one of the winners at the Ramnath Goenka Awards for Excellence in Journalism.

c. History TV18 was successfully launched in October 2011 with Salman Khan as its brand ambassador and is already the No. 2 in its genre, challenging the leader. It is available in 7

Rs. 38.4 crores for the quarter excluding one-time launch expenses and write-offs.

across programming categories: Fiction, Reality and Movies. Big Boss 5 got bigger this year with more than 110 million viewers. The first ever awards show for Colors ' Colors Golden

- MTV and Nick maintained their market leadership in the youth and kids genres respectively. MTV India continues to build and engage multi-platform youth communities. Nick completed

- Sonic ' the channel for the action loving generation was launched on December 20th 2011 with Akshay Kumar as its brand ambassador. The channel has been well received by its target

- Viacom18 Motion Pictures released two successful movies in Q3 FY2012: Paramount PicturesŸ - žMission Impossible ' Ghost ProtocolŸ and žPuss in BootsŸ

Digital Content and eCommerc

Web18 recorded revenues of Rs. 26.3 crores, a growth of 21% over the corresponding quarter last year on a proforma basis.

- Launched the Moneycontrol.com iPad app during the quarter. The app is now a leader in its category. In.comŸs digital destination for Big Boss 5 was a huge success.

- Bookmyshow.com continued on a growth trajectory and more than 1MM tickets are now booked every month on the portal.

Newswire 18 delivered revenues of Rs. 10.8 crores for the quarter.

HomeShop18 scaled rapidly across all key operating parameters while delivering "customer service excellence' across touch points. HomeShop18 recorded revenues of Rs. 21.3 crores for the quarter, a growth of 28 % over the corresponding quarter last year.

Orders executed during the quarter grew by over 25% over the last quarter and 101% YOY.

- www.homeshop18.com continued to exhibit strong growth momentum and is among the top 3 ecommerce sites in the country in its competition set as per the Comscore data.

- HomeShop18 was awarded the "Brand Excellence Award in Internet Business" category at the World Brand Congress, 2011 in Mumbai

- Forbes India continued its impressive market leadership. Mumbai Yellow Pages ' our flagship product was released during the quarter. Our special interests publishing division continued to grow.

b. Capital18 Investee Companies - Capital18 investee companies had a good quarter recording revenues of Rs. 46 crores for the quarter ' growing 48% over the last quarter.