Network18 Q2 FY16 consolidated operating revenues up by 8%

Network18 Media & Investments Limited today announced its results for the quarter/ half year ended 30th September, 2015.

Highlights of the un-audited financial results as compared to the previous year are:

Highlights of Operations

 FY16 half-yearly operating revenue on a consolidated basis stood at Rs.1,594.8 crore, up 10% YoY from Rs.1,453.2 crore in H1 FY15.

 Quarterly operating revenue on a consolidated basis stood at Rs.801.1 crore in Q2 FY16, up 8% YoY from Rs.744.8 crore in Q2 FY15.

 In Q2 FY16, consolidated operating PBDIT stood at Rs.19.2 crore, up 11% YoY from Rs.17.4 crore in Q2 FY15.

 Q2 FY16 Loss Before Tax (before exceptional and prior period items) on a consolidated basis reduced to Rs.8.5 crore, from a loss of Rs.14.8 crore in Q2 FY15.

 H1 FY16 Loss Before Tax (before exceptional and prior period items) on a consolidated basis reduced to Rs.2.6 crore, from a loss of Rs.58.7 crore in H1 FY15.

 H1 FY16 EBITDA includes profit of Rs.43 crore on sale of stake in Stargaze Entertainment Private Limited.  Colors Infinity, an English GEC channel, was launched during the current quarter, and incurred a loss of Rs.19 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.

 H1 FY15 profitability vis-à-vis H1 FY16 was significantly influenced by advertisement income on account of the General Elections and the Union Budget.

 The financials of Prism TV Private Limited (Prism) have been consolidated as a Joint Venture effective 1 August 2015 as Prism ceased to be a subsidiary and continues as a Joint Venture of the Company from the aforesaid date.