TV18 Broadcast FY19 operating EBITDA jumps 30% to Rs 314 cr

Television broadcasting network TV18 Broadcast has reported a 30 percent growth in consolidated operating EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 314 crore compared to previous financial year.

Consolidated operating revenue during the year grew by 3 percent to Rs 4,943 crore and revenue ex-film production increased by 8 percent to Rs 4,727 crore compared to FY18.

"FY19 revenue ex-film revenue increased on the back of continued regional growth and a reviving advertising environment," TV18 Broadcast said in its BSE filing, adding implementation of new tariff order affetced Q4, dragging full-year growth; but is likely to be a medium-term positive.

"FY19 EBITDA growth was despite Rs 114 crore investments into new regional channels and digital expansions (VOOT International & Kids). Regional news gestation losses compressed by 42 percent YoY. Business-as-usual entertainment EBITDA margins rose to 9 percent (versus 5 percent)," it added.

In quarter ended March 2019, company's consolidated operating EBITDA declined 23 percent to Rs 52 crore compared to same period last year.

Consolidated operating revenue was down 23 percent year-on-year to Rs 1,182 crore and revenue ex-film production dipped 6 percent to Rs 1,133 crore in Q4.

"Q4FY19 ex-film revenues dipped (headline revenue was down 23 percent due to movie 'Padmaavat' last year), led by flux around implementation of the new tariff order, and Nidahas Trophy cricket broadcast and other live events and union budget coverage in the base quarter which were absent this year," it said.

The company also said that due to uncertainty related to viewership data, advertisers were a bit edgy regarding spends.

The stock was quoting at Rs 36.60, down Rs 1.90, or 4.94 percent on the BSE, at 13:38 hours IST.