TV18 Broadcast Q4 revenue jumps nearly 3-fold; loss at Rs 1.1 cr

TV18 Broadcast, the part of Reliance Industries owned Network18 Group, has reported net loss at Rs 1.1 crore for quarter ended March 2018.

The company had reported consolidated profit of Rs 6 crore in March quarter 2017.

Consolidated revenue from operations grew by 171.6 percent to Rs 757.8 crore in Q4FY18, compared to Rs 279 crore in corresponding period last fiscal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) shot up 49 percent year-on-year to Rs 39.4 crore, from Rs 26.4 crore reported in year-ago.

EBITDA margin for the quarter contracted to 5.2 percent compared to 9.5 percent in same period last year.

TV18 Broadcast said consequent to Viacom18 & IndiaCast becoming subsidiaries, the figures for the current quarter are not comparable with those of the earlier quarters.

In February 2018, TV18 Broadcast increased its equity interest in Viacom18 Media Private Limited from 50 percent to 51 percent by acquiring in cash 1 percent of the equity shares held by MTV Asia Ventures (India) Pte Ltd, Mauritius for Rs 129.75 crore and consequentiy obtained operational control over Viacom18.

Accordingly, the company consolidated Viacom18 as subsidiary from March 1, 2018. Consequent to this acquisition, IndiaCast Media Distribution Private Limited (IndiaCast), which was hitherto a joint venture of the company, was accounted as subsidiary with effect from March 1, 2018.

At 13:18 hours IST, the stock price was quoting at Rs 64.85, down Rs 2.40, or 3.57 percent on the BSE.