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HomeNewsNational NewsViacom18’s IndiaCast Media witnesses drop in FY19 net profit
Monday, 11 November 2019 14:24

Viacom18’s IndiaCast Media witnesses drop in FY19 net profit

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The content monetisation arm of TV18/Viacom18, IndiaCast Media Distribution has witnessed a sharp fall in net profit for the fiscal ended 31st March even as its revenue increases. Its net profit fell to Rs 11 lakh in FY19 compared to Rs 26 lakh in the previous fiscal. The drop in the net profit was due to the increase in net tax expense from Rs 74 lakh to Rs 1.59 crore.

It was a 50:50 Joint Venture of TV18 Broadcast and Viacom18 Media, since 1st April 2013. On 28th February 2018, TV18 acquired a controlling stake in Viacom18. As a result of which the company has become a subsidiary of TV18.

Its total income surged to Rs 310.8 crore compared to Rs 305.3 crore. Revenue from operations rose to Rs 297.9 crore from Rs 286.19 crore. Subscription income & income from online services increased to Rs 95.67 crore as against Rs 93.27 crore. Advertisement revenue stood at Rs 37.03 crore compared to Rs 39.63 crore.

Also, syndication income was up at Rs 84.61 crore compared to Rs 78.78 crore. Commission income jumped to Rs 75.10 crore from Rs 70.86 crore. Total expenses registered a minor increase at Rs 309.12 crore compared to Rs 304.36 crore. Licence fees payment stood at Rs 155.36 crore as against Rs 148.19 crore.

IndiaCast is the business of advertisement sales and linear channel distribution and syndication of programs within and outside India.

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