TV18 Broadcast rose 2.20% to close at Rs 20.95 after consolidated net profit surged 177.73% to Rs 78.21 crore on 20.61% jump in net sales to Rs 1,424.93 crore in Q4 March 2020 over Q4 March 2019.
Consolidated profit before tax surged 1,270.76% to Rs 176.28 crore in Q4 March 2020 as against Rs 12.86 crore in Q4 March 2019. The total tax expenses stood at Rs 34.45 crore during Q4 March 2020 as compared to a tax rebate of Rs 17.04 crore in Q4 March 2019.
Consolidated operating revenue soared 21% to Rs 1,425 crore in Q4 March 2020 from Rs 1,182 crore in Q4 March 2019. Consolidated operating earnings before interest, tax, depreciation and ammortisation (EBITDA) grew 365% to Rs 240 crore in Q4 March 2020 from Rs 52 crore in Q4 March 2019. The result was declared during trading hours today, 23 April 2020.
The company stated that a rise in ranking of its flagship entertainment channel and upsurge in news consumption helped the group post growth in ad-revenues in the quarter, even as advertising was severely impacted during late-Q4 due to the COVID-19 related lockdown. The entertainment profitability continued its improved run despite ad-headwinds, led by subscription and syndication revenue streams and broad-based cost controls. TV18 group's Q4 entertainment viewership share was 9.9%, vs 10.1% last quarter.
Commenting on the Q4 performance, Adil Zainulbhai, the chairman of TV18 Broadcast, said, "The COVID-19 pandemic is a major black-swan event, which has dragged the economy and the advertising environment as a result. The immediate impact on ad-driven media industry will be significant; however an increasing proportion of subscription revenues will help us pull through. Amid uncertain times, the strength of our brands and our class-leading content creation capabilities continues to shine through. We are proud of the coverage being provided by the News18 Network despite trying circumstances. The growth in media consumption witnessed augurs well for the future, as some of the increased engagement will be sticky even once the pandemic tapers off. We have stayed the course on our digital impetus and sharp focus on profitability."
TV18 Broadcast is engaged in television broadcasting networks. The company operates news channels, such as CNBC-TV18, CNBCAwaaz, CNBC Bajar, CNBC-TV18 Prime HD, CNN-News18, News18, IBN7 and IBN-Lokmat. The firm operates 10 regional news channels.
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