TV18 Broadcast Limited profit down by Rs 7 crores in Q1 FY 19-20
New Delhi: Network 18’s subsidiary TV18 Broadcast Limited today announced its results for the Quarter ended 30th June 2019.
The company’s total income rose from Rs 1,196 crores in the preceding quarter to Rs 1,231 crores in Q1 FY 19-20. Total expenses stood at Rs 1,200 crores up from Rs 1,193 crores in the preceding quarter. Profit after tax reduced by Rs 7 crores as compared to the previous quarter.
Mr Adil Zainulbhai, Chairman of TV18, said: “Our channel brands have witnessed a strong uptake in the new tariff regime which places the consumer even more at the centre of the broadcasting business model. Class-leading value, genre-defining content and a pipe-agnostic approach are the tenets which we believe will continue to propel our portfolio forward.”
New Tariff Order (NTO) implementation pains have smoothened as the value-chain adjusts to the new regime, and TV18s subscription income has received a boost. The ad environment remained tepid in Q1 FY 19-20 with advertisers paring spends.TV18’s entertainment Q1 viewership share was 9.1%.
TV18’s Q1 viewership share in news was 10.1%, up from 9.3% post NTO implementation. Election ads boosted the revenue of general news channels. Niche genres witnessed robust growth, underscoring TV18s strength in Kids and Youth genres.
News18’s standalone revenues stood at Rs 298 crores. Viacom18, AETN 18 and Indiacast’s consolidated revenue stood at Rs 899 crores.
History TV18 HD and FYI TV18 dominated their respective genres. Colors maintained its top position in the English entertainment genre and Kannada market. TV18s news channels reached an industry-leading 539 mn viewers in Q1.
At the time of going to press TV18 Broadcast Ltd is currently trading at Rs 23.15, down by Rs 0.35 or 1.49 % from its previous closing of Rs 23.50 on the BSE.