Its consolidated operating EBITDA surged 145% to Rs 281 crore from Rs 115 crore driven by content partnerships, subscription growth and substantial cost controls. The consolidated net profit for the period stood at Rs 205 crore as against Rs 147 crore.
Its entertainment revenue declined 4% to Rs 1,137 crore from Rs 1,184 crore. The standalone revenue from news business declined by 1% to Rs 288 crore from Rs 290 crore due to headwinds in BFSI sector, weak government spends, and limited international advertising.
Its subscription revenue for the quarter increased 40% to Rs 458 crore from Rs 327 crore. The growth was boosted by the accrual of linear TV subscription due to the implementation of the NTO (New Tariff Order) and multiple partnerships with digital platforms.
The group’s operating EBITDA from the entertainment business comprising Viacom18+AETN18+IndiaCast increased 262% to Rs 245 crore from Rs 68 crore. The news business operating profit declined 24% to Rs 36 crore from Rs 47 crore.
So far, TV18 invested Rs 13 crore in regional movie channels (Kannada and Gujarati Cinema) and subscription-offerings (Voot Kids, Freemium & International) during the quarter. EBITDA includes impact from initiatives launched more than a year ago but are in gestation, including Voot and Colors Tamil.
TV18’s expenses dropped to Rs 1220 crore from Rs 1423 crore. In sync with the ad-environment, the company streamlined the operating costs. Both quantum and cost of programming were tweaked for efficiency, and focus was maintained on key shows.