TV18 Broadcast QOQ Revenues Decline; YOY Soar
DSIJ Intelligence / 21 Apr 2016
Reliance Industries promoted, TV18 Broadcast, announced its Q4FY16 results on Wednesday, 20th April 2016. The company posted strong results as compared to the same quarter last year. Q4FY16 revenues tumbled to Rs 671.34 crores as compared to the 692.42 crores, a decrease of 3 per cent due to seasonal discrepancies.
Reliance Industries promoted, TV18 Broadcast, announced its Q4FY16 results on Wednesday, 20th April 2016. The company posted strong results as compared to the same quarter last year. Q4FY16 revenues tumbled to Rs 671.34 crores as compared to the 692.42 crores, a decrease of 3 per cent due to seasonal discrepancies. However, Net profit stands at Rs 82.51 crores as against Rs 78.29 crores, an increase of 5 per cent amid reasonably lower tax expenditure incurred by the Company.
The Year on Year (YoY) results show that, Company’s consolidated revenues rose 7 per cent from Rs 629.75 crores in the same quarter last year to 671.34 crores in this quarter. EBIDTA of Company stands at Rs 99.3 crores this quarter compared to Rs 82.6 crores in Q3FY16, an increase of 5 per cent QoQ. EBITDA margin stands at 14.79 per cent this quarter as compared to the last quarter at 13.11 per cent.
However, the Net profit (PAT) declined by 14 per cent from Rs 95.47 crores. Company’s minority interests stand at Rs 0.65 crores in this quarter as compared to Rs 7.78 crores for the same quarter last year.
On yearly basis TV18 Broadcast posted consolidated revenues from operations of Rs 2568.97 crore for the year ended March 2016 compared to Rs 2318.39 crore in March 2015, an increase of 10.8 per cent. Net profit too grew from Rs 44.54 crore in FY15 to 181.02 crore in FY16, an increase of 306.4 per cent. Exceptional items expenditure came in as Nil.
Company’s FY16 expenditure includes Rs 92 crores attributed to ETV News Channels, Launch of Colours Infinity and a Digital video OTT. It also incurred one time expenditure of Rs 10 crores for rebranding ETV regional channels to Colours.
TV18 Broadcast stock closed at 39.6, an increase of 7.1 per cent from the previous close.
TV18 Broadcast, a Television broadcast network, is a joint venture between NBC Universal and the Network 18 Group. Network 18 Media is in a way promoted by Reliance Industries. TV18 Broadcast offers telecommunication, broadcasting and information supply services.
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