TV18 net profit up by 40% in Q3
Its consolidated revenue from operations was Rs 306 crore as against Rs 288 crore in the same period last FY
TV18 has reported net profit growth of 40% to Rs 28 crore in the third quarter ended December 31, 2020. Its consolidated revenue from operations was Rs 306 crore as against Rs 288 crore in the same period last FY.
TV18 owns and operates the broadest network of channels – 56 in India spanning news and entertainment. One in every 2 Indians is a consumer of our broadcast content. They also cater to the Indian diaspora globally through 16 international channels.
The company reported that its Q3 Operating EBITDA is up 14% YoY. Its Operating Margin continued to grow to a healthy ~24%. Ad-recovery, cost-efficiency drove entertainment EBITDA margin to 25%, its highest ever. TV News EBITDA margin ramped-up to ~19%; marking 4 years of consistent improvement. PAT rose to Rs 377 Cr, up ~2x YoY on improved performance, lower finance costs & tax reversals.
The company's ad-revenue inched up YoY. Its recovery has been sharp and broad-based. Entertainment fully recovered from COVID impact, led by programming returning to normalcy and high-impact content driving ad-yields up during the festive season. Viewership remained strong despite sports (IPL) and peer non-fiction shows competing for eyeballs.
"Sustained focus on high-quality reportage sans hyperbole continues to bolster the News business, even amidst the absence of BARC ratings during the quarter. Subscription revenue of TV18 is up 2% YoY; Domestic subscription revenue remained strong, offset stress in international. Improved distribution tie-ups for TV and Digital continue to drive subscription growth,"
Adil Zainulbhai, Chairman of TV18, said: “The group has fully recovered from the effects of the pandemic, even as safety measures and innovative solutions to logistical challenges continue to be deployed. We have treated this period as an opportunity to rethink our businesses, and are emerging stronger and ready for the post-COVID world. The resumption of original programming has driven TV consumption and monetization back to normalcy, even as Digital adoption grows in tandem. The benefits of cost controls effected over the past year are now visible, as both verticals are at much-improved profitability levels. In this new year that is bringing in new hope, our constant endeavor will be to create value and deliver on our promise of class-leading content.”
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