TV18 FY14 operating profits up 88%; PAT turns positive at Rs 103.6 cr
Net distribution income for FY14 closed at Rs 178 cr, up from Rs 15.7 cr in FY13. FY14 profit after tax turned positive at Rs 103.6 cr as compared to FY13 losses of Rs 25.5 cr
TV18 Broadcast has reported 88 per cent jump in its operating profits for the financial year ending March 31, 2014 at Rs 210.5 crore. FY14 profit after tax turned positive at Rs 103.6 crore as compared to FY13 losses of Rs 25.5 crore.
Annual revenues on a consolidated basis were up 15.8 per cent to Rs 1,968.1 crore.
On a consolidated basis, advertising revenues grew 11 per cent year on year for the fourth quarter. Net Distribution Income (NDI) continued its steady climb to close at Rs 178 crore, up from Rs 15.7 crore in FY13.
Operating profits from the television operations doubled from Rs 114.2 crore to Rs 233.6 crore. Revenues on a consolidated basis were up 18.7 per cent YOY for Q4 FY14. Advertising revenues stood at Rs 357.8 crore. The Entertainment and General News businesses witnessed encouraging advertising revenue growth. Net Distribution Income (NDI) continued its strong financial performance through the quarter.
On a consolidated basis, operating profits (EBITDA) grew 2x to Rs 69.7 crore in Q4 FY14, with television operations delivering a 2.4x growth from Rs 31.6 crore to Rs 74.4 crore. This quarter has seen significant margin improvement in the news, infotainment and entertainment segments.
The company also launched MTV Indies and Rishtey in the entertainment segment and ETV Bangla, ETV Kannada and ETV Haryana in the regional news segment.
Announcing the results, Raghav Bahl, Managing Director, Network18 said, “We are enthused by the outstanding performance of TV18 for this financial year. All our businesses contributed positively to achieve our highest ever post-tax profits of Rs 103.6 crore, despite the continued uncertainty in the macro-economic environment. We are confident of sustaining our growth trajectory, as we continue to extract value from our existing operations as well as profitably grow our newer initiatives.”
Commenting on the results for the quarter, B Saikumar, Group CEO, Network18 said, “We are extremely pleased that all our broadcast operations continued to deliver their margins despite softness in the advertising environment. IndiaCast has delivered a stellar swing in net distribution income. While our Business news operations remained stable, our General news operations, led by CNN-IBN, have turned around this year, due to a strong focus on operational synergies, further aided by the elections. Infotainment operations at A+E Networks I TV18 broke into positive territory. Our broadcast entertainment business at Viacom18, led by Colors, profitably grew operations along with the launch of Rishtey and MTV Indies.”
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