Network 18 Media & Investments plunges 5 per cent after declaring Q1FY18
DSIJ Intelligence / 18 Jul 2017
Network 18 Media & Investments reported its results for the quarter ended June 30, 2017 today.
Network 18 Media & Investments reported its results for the quarter ended June 30, 2017 today.
Total sales for the quarter, Q1FY18, came in at Rs. 321.2 crore. This represents a 17.1 per cent sequential decline and 8.7 per cent YoY decline.
Operating profit (EBIT) for the recently concluded quarter amounted to Rs. 67.7 crore.
It reported net loss of Rs. 69.6 crore as against Rs. 23.6 crore net loss in last quarter of FY17.
CNBC TV18 maintained 1st rank in the english business news genre with 52% market share in Q1 FY18. Whereas, CNBC Awaaz continues to be dominant in the hindi business news genre with 66% market share. Also, CNN News18 garnered 11% market share in all India & ranks on 5th position in Q1FY18.
ETV regional news cluster has improved its viewership substantially over the past 6 months. Its overall viewership share has more than doubled to 4% from 1.8% since December 2017. The 3 regional news channels launched in Q1FY17 (News18 Tamil Nadu, Kerala and Assam) have grabbed 6-10% shares.
Reacting to this result, the stock of Network 18 plunged almost 5 per cent to touch day low of Rs. 53.5.
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