TV18 Broadcast, a subsidiary of Network18, has registered a 373.33 percent year-on-year growth in Q4FY20 consolidated profit due to strong revenue and operating EBITDA.
Profit for the quarter stood at Rs 142 crore, up from Rs 30 crore in the same period last year.
Controls on operating expenses and subscription revenue growth more than filled-in for the decline in advertising helped the news business remain profitable, the company said.
Revenue from operations grew by 21 percent year-on-year to Rs 1,425 crore in the quarter ended March 2020, the company said in its BSE filing.
Linear TV subscription revenue growth was at 41 percent in Q4 and B2C annuity nature provided solidity, it added.
Its operating earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter shot up 365 percent to Rs 240 crore against Rs 52 crore in the corresponding period the previous year.
“Rise in the ranking of our flagship entertainment channel and upsurge in news consumption helped the group post growth in ad-revenues in the quarter, even as advertising was severely impacted during late-Q4 due to the COVID-19 related lockdown,” the company said.
TV18 Broadcast said its profit for the financial year 2019-20 surged 98.57 percent to Rs 417 crore and revenue grew by 5 percent to Rs 5,175 crore compared to the previous year.
The full-year operating EBITDA stood at Rs 703 crore, growing 124 percent over Rs 314 crore reported in the previous fiscal.
TV18 said the benefits of a transparent and non-discriminatory B2C regime created by the implementation of the NTO (New Tariff Order) in Q4FY19 continued to accrue for the entire FY20.
Distribution improvements through tie-ups with cable and telecom platforms boosted the reach and enlarged the value-proposition of channel brands across a varied cross-section of viewers, it added.
TV18’s Q4 average viewership share in news was 10.5 percent, up from 10.2 percent in Q3; while TV18 group’s Q4 entertainment viewership share was 9.9 percent in Q4 versus 10.1 percent in the last quarter.
The contribution of subscription to the revenue mix has increased to 35 percent in FY20 from 26 percent in FY19, the company said.
TV18 Broadcast share price closed at Rs 20.95 on the BSE, up 2.20 percent. Money Control