It operating profit dipped to Rs 105 crore for the quarter ended 30th September as against Rs 108 crore in the same quarter of the previous fiscal. EBITDA margins have gone up to 11.4% vs 9.9% in Q2FY19. This is despite investments to the tune of Rs 13 crore in regional movie channels (Kannada and Gujarati Cinema) and paid-offerings (Voot Kids & International).
The group’s business as usual (BAU) margins improved to 12.9%. BAU margins include the impact of initiatives launched more than a year ago but are still in gestation, including Voot and Colors Tamil.
Its consolidated operating revenue fell 6% to Rs 1127 crore as against Rs 1198 crore. Revenue from news business declined 2% to Rs 262 crore while the revenue from the entertainment business was down 7% to Rs 865 crore.
TV18’s Subscription income grew by 43% to Rs 461 crore, continuing the 48% growth YoY witnessed in Q1.
The channel said: “Our domestic yields have improved, led by the strength of our bouquet as demonstrated by consumer choice for our channels and packs. Improved distribution tie-ups give our channel portfolio unparalleled reach across TV & Digital.”