TV18 Broadcast Limited yesterday announced the financial consolidated results for the quarter ending December 31, 2020. TV18 registered consolidated operating revenue of Rs 1,361 crore in Q3 FY 21 while net profit zoomed to Rs 377 crore, up from Rs 115 crore in Q2 FY 21.
The total expenses stood at Rs 1,093 crore in Q3 FY 21, up from Rs 910 crore in Q2 FY 21. TV18’s ad recovery and cost-efficiency drove Entertainment EBIDTA margin to 25 percent while TV News EBIDTA margin ramped up to 19 percent.
Entertainment business has fully recovered from COVID impact led by programing returning to normalcy and high-impact content driving ad-yields up during festive season. The domestic subscription revenue remained strong with improve distribution tie-ups for TV and Digital continuing to build subscription revenue growth.
News18’s standalone operating revenues stood at Rs 306 crore while Viacom18+AETN18+Indiacast operating revenues stood at Rs 1,055 crores. TV18’s consolidated subscription revenues stood at Rs 468 crores.
“The group has fully recovered from the effects of the pandemic, even as safety measures and innovative solutions to logistical challenges continue to be deployed. We have treated this period as an opportunity to rethink our businesses, and are emerging stronger and ready for the post-COVID world. The resumption of original programming has driven TV consumption and monetization back to normalcy, even as Digital adoption grows in tandem. The benefits of cost controls effected over the past year are now visible, as both verticals are at much improved profitability levels. In this new year that is bringing in new hope, our constant endeavor will be to create value and deliver on our promise of class-leading content.”Adil Zainulbhai, Chairman of TV18