Tv18 Broadcast Limited Announces Standalone and Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2018
October 15, 2018 at 03:34 am EDT
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TV18 Broadcast Limited announced standalone and consolidated earnings results for the second quarter and six months ended September 30, 2018. For the quarter, the company reported standalone total income of INR 2,020 million against INR 1,660 million a year ago. Profit before tax was INR 170 million against INR 270 million a year ago. Profit for the period was INR 110 million against INR 190 million a year ago. Revenue from operations was INR 2,000 million against revenue from operations of INR 1,590 million a year ago.
For the six months, the company reported standalone total income of INR 3,750 million against INR 3,250 million a year ago. Profit before tax was INR 310 million against INR 490 million a year ago. Profit for the period was INR 200 million against INR 330 million a year ago. Revenue from operations was INR 3,730 million against revenue from operations of INR 3,110 million a year ago.
For the quarter, the company reported consolidated total income of INR 12,010 million against INR 2,340 million a year ago. Profit before share of profit of associate and joint ventures, exceptional items and tax was INR 550 million against loss before share of profit of associate and joint ventures, exceptional items and tax of INR 130 million a year ago. Profit before exceptional items and tax was INR 630 million against INR 130 million a year ago. Profit for the period attributable to owners of the company was INR 160 million against INR 70 million a year ago. The company reported a 42% jump in operating EBITDA to INR 1,080 million compared to INR 760 million a year ago, driven by improved performance of regional channels (both news and entertainment); despite gestation losses of Colors Tamil and new launch Colors Kannada Cinema. While headline operating revenue grew 11% (on a comparable basis), revenue ex-movies grew 17% year over year, underscoring tailwinds in broadcasting. Operating EBITDA was INR 1,080 million against INR 760 million a year ago. Revenue from operations was INR 11,980 million against revenue from operations of INR 2,270 million a year ago.
For the six months, the company reported consolidated total income of INR 22,970 million against INR 4,610 million a year ago. Profit before share of profit of associate and joint ventures, exceptional items and tax was INR 510 million against loss before share of profit of associate and joint ventures, exceptional items and tax of INR 380 million a year ago. Profit before exceptional items and tax was INR 660 million against INR 70 million a year ago. Profit for the period attributable to owners of the company was INR 40 million against loss for the period attributable to owners of the company of INR 50 million a year ago. Revenue from operations was INR 22,860 million against revenue from operations of INR 4,460 million a year ago.
TV18 Broadcast Limited is an India-based media company. The Company is primarily engaged in the business of news broadcasting. The Company is also engaged in digital content and allied businesses. It runs a news network in India, spanning business news (four channels), general news (one each in English and Hindi), and regional news (14 channels across India, including a joint venture, News18 Lokmat). The brands like CNBC TV18, News18 India, and CNN News18 are part of this news bouquet. News18 International delivers definitive India-centric news for the Indian diaspora and audiences across the globe. Its subsidiary, Viacom 18 Media Private Limited (Viacom 18), operates a portfolio of television entertainment channels, sports channels and digital platforms. Its brands include Colors, MTV, Nickelodeon, Sports18 and others. Viacom 18 also operates JioCinema and Voot OTT (Over the Top) platforms offering premium and exclusive content as well as catch-up TV for on-demand viewing.