Network18 loss widens to Rs 152 cr in Q2 FY25

Network18 Media and Investments Ltd has reported a total revenue of Rs 2059.3 crore for the second quarter of financial year 2024-25. However, the company reported a widened loss of Rs 152.3 crore for the quarter ending September 30, 2024. The company had reported a loss of Rs 119 crore in the same period previous fiscal.

The operating revenue of the company, which has merged with TV18 and E18 creating a digital and TV news powerhouse, touched Rs 1825.18 crore in Q2 FY25, down from Rs 1866 crore in the previous fiscal. While its operating revenue from TV, digital and print news rose by 6% to Rs 445 crore in the second quarter, its revenue from entertainment (Viacom18) declined by 5.4% from Rs 1416 crore in Q2 FY24 to Rs 1339 crore in Q2 FY25.

The company’s revenue from subscription rose by 43.6% from Rs 511 crore in Q2 FY24 to Rs 733 crore in Q2 FY25. However, the income from film production and distribution reduced significantly by 88% from Rs 374 crore in Q2 FY24 to Rs 44 crore in Q2 FY25.

Adil Zainulbhai, Chairman of Network18, said: “We are happy to have completed the merger of our news businesses. With a strong portfolio of TV channels and digital platforms, covering the breadth of the country and catering to its linguistic diversity, we are ideally positioned to become the most preferred news network of India. We are committed to push boundaries of innovation and lead the growth of the industry as we build on this strong foundation.”

The Scheme of Arrangement became effective on October 3, 2024, post receipt of approval from Ministry of Information and Broadcasting. The Scheme was sanctioned by the NCLT, Mumbai bench, on September 5, 2024. The Appointed Date of the Scheme is April 1, 2023.

The network has a monthly reach of over 350 million on TV and around 250 million Monthly Unique Visitors across its digital portfolio.

“As consumers and advertisers increasingly gravitate towards omni-channel experiences across different aspects of their lives, having a deep and integrated presence across both TV and Digital media will enable the merged entity to serve them better,” the company said.

The company announced that shareholders of TV18 to get 100 shares of Network18 for every 172 shares of TV18. Shareholders of E18 to get 19 shares of Network18 for every 1 share of E18.

 The merger presents an opportunity to shareholders of all the 3 companies to participate in the media business of the group through one listed entity, it said.

Other than Viacom18, substantial investments of Network18 include BookMyShow (39.29%) and Eenadu Television Private Ltd. (24.5%).