TV18 delivers strong operating performance; EBITDA up 3X YOY

TV18 Broadcast Limited announced its results for the quarter ending September 30, 2013, today.

Reported revenues for the television (including IndiaCast) and motion pictures business stood at Rs. 483.2 crores for the quarter. At a consolidated level, advertising revenues grew 4% year on year. While the general news and niche genres witnessed continued softness, our advertising revenues from entertainment led by Colors grew strongly. Net Distribution Income continued to grow steadily to Rs. 39.1 crores this quarter. Reported operating profit (EBITDA) for the quarter stood at Rs. 39.6 crores, up
178% over previous year. The company turned in a profit after tax of Rs. 10.1 crores for the quarter.

Announcing the results, Raghav Bahl, Managing Director, Network18 said, “Even though the macroeconomic environment continued to be uncertain, the media and entertainment industry is well poised to deliver robust growth. At TV18, we are confident of maintaining our growth trajectory to create value for our stakeholders. During the current quarter our broadcasting operations turned in strong operating profits. We are particularly heartened by the doubling of operating profits in the first half of the current financial year as compared to previous year.”

Commenting on the results for the quarter, B. Saikumar, Group CEO, said, “During the current quarter, we turned in robust operating profits for both our broadcasting and motion pictures businesses. We embarked on an operational restructuring programme to realise synergies across the news network which will be instrumental in creating sustained value. Our entertainment business turned in an excellent quarter and IndiaCast continued on its growth trajectory. The advertising environment continues to be lackadaisical especially for news and other niche genres but we remain confident of delivering a strong year ahead.”