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Network18′s broadcasting subsidiary TV18 Broadcast has posted a net profit of Rs 43.23 crore for the quarter ended September 30, 2014 (Q2-FY15), as against a net loss of Rs 154.5 crore in the previous quarter and a profit of 10.12 crore in Q2-FY14. However, it’s worth noting that the previous quarter loss includes a one-time exceptional item of Rs 223.3 crore, while the Q2-FY14 loss includes an exceptional item of Rs 10.28 crore.
The company reported total operational revenues of Rs 553.68 crore for the quarter, up 4.9% from Rs 527.7 crore in the previous quarter and up 14.6% from Rs 483.2 crore in the same quarter last year.
Network18 however mentions that the consolidated results of the current quarter are not comparable to the corresponding quarter last year, since it includes results from Equator Trading Enterprises (and its subsidiaries Panorama Television & Prism TV) that became a wholly owned subsidiary of Network18 in January this year and Eenadu Television that became an associate company in the same month.
News18 US foray: In August this year, TV18 entered the US market by launching (pdf) a 24hr television news channel News18 India. This channel will be distributed by IndiaCast, the company’s joint venture with Viacom18 which currently manages the TV18′s and Viacom18′s distribution operations.
Besides the United States, News18 India is currently available in prominent South Asian diaspora markets like the United Kingdom, Singapore, and the Middle East.
MTV’s online shows: During the quarter, MTV launched online shows such as MTV Bachelor Pad, MTV Chase the Monsoon 2, MTV Look and Get Fit. It also launched a mobile app called MTV Football Rampage on iOS and Android.
Media operations vs Film production
Revenues from the media operations business grew marginally to Rs 533.83 crore, up 3.98% from Rs 513.4 crore in the previous quarter. The profit before tax for the segment however grew significantly to Rs 50.46 crore for the quarter, from Rs 19.36 profit in the previous quarter.
On the other hand, revenues from TV18′s film production & distribution business grew by 38.6% to Rs 19.85 crore for the quarter, up from Rs 14.32 crore in the previous quarter. The segment however posted increased losses of Rs 4.38 crore, compared to Rs 0.95 crore profit in the previous quarter.
It’s worth noting that TV18 has stopped disclosing financial information pertaining to its news business and entertainment business from the previous quarter. There is also no information on how IndiaCast or its infotainment business (AETN-18 India) performed during the quarter.
Technology news, TV18 net profit at Rs 43.2 Cr in Q2-FY15; Revenue up 5% YoYTechnical, Technology, Technology Trends
TV18 net profit at Rs 43.2 Cr in Q2-FY15; Revenue up 5% YoY
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