It has registered 13 percent jump in its FY19 consolidated operating EBITDA at Rs 212 crore against Rs 188 crore in the financial year 2017-18.
Network18 Media & Investments has registered a loss of Rs 76 crore in the fourth quarter, against Rs 77 crore profit previous quarter. Year on year, the loss has widened from Rs 39 crore in Q4FY18.
The EBITDA (earnings before interest, tax, depreciation and amortisation) for the company fell 79 percent YoY at Rs 12 crore in Q4FY19. The revenue also fell by 23 percent at Rs 1,231 crore.
It has registered 13 percent jump in its FY19 consolidated operating EBITDA at Rs 212 crore against Rs 188 crore in the financial year 2017-18.
"FY19 EBITDA was up 13 percent YoY despite Rs 131 crore investments into new regional channels, launch of FirstPost Print and Digital expansions (VOOT International & Kids, CricketNext). Regional News gestation losses reduced 42 percent YoY. Business-as-usual Entertainment EBITDA margins rose to 9 percent (versus 5 percent), company said in its BSE filing.
Its FY19 operating revenue was up 2 percent at Rs 5,116 crore and revenue from ex-film production rose 7 percent to Rs 4,901 crore compared to last year.
"FY19 ex-film revenue rose 7 percent YoY on continued regional growth and a reviving ad environment. Implementation of new tariff order impacted Q4, dragging full-year growth; but is likely to be a medium-term positive," company said.
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
