TV18 posts 70 per cent revenue growth

PRESS RELEASE


Financial Highlights: 


Q2 Revenue at Rs. 530.08 mn, Up 70% YOY


Operating Profit at Rs. 249.04 mn, Up 44% YOY


Operating Margin at 47% – dips under 50% largely on account of the consolidation of CNBC Awaaz revenues and costs  in P&L


Net Profit at Rs. 160.45 mn, Up 44% YOY


EPS at Rs. 7.63


Operational Highlights:


TV18 Network (CNBC-TV18, CNBC-Awaaz, CNN-IBN, IBN7 and internet portals) grow over 100%  in revenue on YoY basis.


CNBC-TV18 and CNBC-Awaaz continue to dominate the Business News category. Both channels maintain a solid leadership position, with over 70% marketshare of the Business News Category


CNN-IBN* leads across relevant target groups in key markets and time-bands across the country.


IBN 7 is showing impressive growth in market size.


Internet revenues from portals under Web18 grow over 3 times over past year.


Following the meeting of the Board of Directors, Raghav Bahl, Television Eighteen’s Managing Director said: “This has been an exceptionally good quarter for us. As a Network, we have doubled revenues – while our listed entity has posted a 70% year-on-year growth. We have successfully concluded our Scheme of Demerger, and set November 24 as the Record Date – this will unlock an enormous amount of value for our shareholders, who will now enjoy the fruits of ownership in all our businesses, including CNN-IBN, IBN7, Home Shopping Network and Studio18. With several exciting forays in news broadcasting, internet portals, motion pictures and other multi-media platforms on the anvil, our shareholders can continue to look forward to a period of sustained growth.”

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