Network18 posts Rs 1214 crore revenue for Q1FY22
The consolidated revenue is 50% higher than the Rs 807 crore announced in Q1FY21
Network 18 has released Q1 FY 2021-22 numbers. The company has posted a consolidated revenue of Rs 1214 crore in Q1FY22 as compared to Rs 807 crore in Q1FY21. This is a growth of 50%.
On a sequential basis, the revenues were down compared to Rs1,434cr revenues reported in the Mar-21 quarter.
The net profit for the Jun-21 quarter turned around to Rs9.57cr as compared to a net loss of Rs-62.20cr in the Jun-20 quarter.
The consolidated EBITDA stood at Rs 188 crore in Q1FY22, up from Rs 27 crore in Q1FY21.
Commenting on the financials, Adil Zainulbhai, Chairman of Network18, said, “The second wave of COVID-19 could have been the dominant theme for the industry and indeed for us during the quarter….but it wasn’t. Led by the many learnings from the past year and a responsibility to serve the Indian audience, we have been able to continue our businesses relentlessly and profitably. While advertising hit a speedbreaker (primarily in entertainment), growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment. We continue to invest to ramp up offerings on our class-leading digital platforms, as their reach expands to highest ever levels. At the same time, we are selectively creating segmented offerings to enhance our TV portfolio in a capital-efficient manner.”
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