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.”
