MUMBAI: A slowdown in the second half due to demonetisation of high-value currency notes and new launches in entertainment, news and digital segments impacted TV18 Broadcast’s profit performance in the fiscal ended 31 March 2017.
TV18’s segment profit (including proportionate share of joint ventures) plummeted 74% to Rs 61.5 crore in FY17 compared to Rs 236.3 crore a year ago. The JVs include Viacom18 and AETN18.
However, adjusting for the investments in new initiatives and one-time expenses, the company’s segment profit jumped 30% over the earlier year to Rs 308.3 crore in FY17.
Despite demonetisation wreaking havoc on the economy in the second half of the fiscal year, the company’s revenue grew by 7% to Rs 2676.9 crore driven by entertainment and national news.
Consolidated Ind-AS revenue stood at Rs 979.4 crore, up 6% from Rs 924.9 crore in the earlier year.
Demonetisation and new launches impact TV18’s FY17 profit | TelevisionPost.com
TV18’s segment profit (including proportionate share of joint ventures) plummeted 74% to Rs 61.5 crore in FY17 compared to Rs 236.3 crore a year ago. The JVs include Viacom18 and AETN18.
However, adjusting for the investments in new initiatives and one-time expenses, the company’s segment profit jumped 30% over the earlier year to Rs 308.3 crore in FY17.
Despite demonetisation wreaking havoc on the economy in the second half of the fiscal year, the company’s revenue grew by 7% to Rs 2676.9 crore driven by entertainment and national news.
Consolidated Ind-AS revenue stood at Rs 979.4 crore, up 6% from Rs 924.9 crore in the earlier year.
Demonetisation and new launches impact TV18’s FY17 profit | TelevisionPost.com
