TV18 Broadcast rose 2.20% to Rs 30.25 after consolidated net profit surged 148.2% to Rs 115.55 crore on 10.1% decrease in net sales to Rs 1,012.80 crore in Q2 September 2020 over Q2 September 2019.
Consolidated profit before tax (PBT) jumped 139.6% to Rs 135.09 crore in Q2 September 2020 as against Rs 56.38 crore in Q2 September 2019. Current tax expense for the quarter soared 98.8% to Rs 19.54 crore as against Rs 9.83 crore paid in Q2 September 2019. The Q2 result was declared post market hours yesterday, 27 October 2020.
Consolidated EBITDA galloped 56% to Rs 164 crore in Q2 FY21 as against Rs 105 crore in Q2 FY20, as revenues are firmly on the road to a full recovery. EBITDA margin improved to 16.2% in Q2 FY21 from 9.3% in Q2 FY20. The company witnessed a step-jump in EBITDA margins for both news and entertainment to healthy levels.
During the quarter, News (TV18 standalone) revenue fell 3% to Rs 254 crore while Entertainment (Viacom18+AETN18+Indiacast) revenue fell 12% to Rs 759 crore over Q2 September 2019.
Ad-revenues rebounded as economic activity restarted on tapering of lockdowns. News business' advertising fully recovered, as viewership has settled at a higher level. Entertainment recovery is near-complete and Y-o-Y (year-on-year) ad-revenue fall reduced to single-digits.
Subscription revenues were resilient as domestic subscription revenue continued to rise. TV connections in commercial establishments and some low-end connections saw a temporary dip due to the pandemic, however, multi-TV home connections have picked up. Distribution tie-ups continued to expand and give our channel portfolio unparalleled reach across TV & Digital. International subscription witnessed pandemic-related stress.
CNBC TV18 maintained #1 rank in the English Business News genre with 68.9% market share in Q2 FY21. CNBC Awaaz continues to be dominant in the Hindi Business News genre with 53.2% market share.
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In entertainment segment, flagship Hindi GEC Colors was the #3 pay-GEC with an increased share of 15.1%during Q2; and was the #2 channel in all-day primtetime. In English entertainment genre, Viacom18 channels continue to occupy the top positions, with their combined viewership shares at 64%. MTV Beats viewership share rose to 18.2%, and it ranks #2 in a crowded category.
Adil Zainulbhai, the chairman of TV18 Broadcast, said: "TV18's broadcasting businesses have recovered from the impact of the COVID-19 pandemic to a very large degree. Our proactive measures on cost-control have resulted in much-improved profitability across both News and Entertainment, despite certain market segments still suffering from pressures due to the Coronavirus. We have ensured business continuity through rejigging processes, innovatively revived alternative revenue streams, and focusing on aligning content distribution strategy with market opportunity. As we head into festive season, the underlying trends on both viewership and monetization are supportive."
TV18 Broadcast, a subsidiary of Network18, manages its primary business of broadcasting. TV18 runs the largest news network in India, spanning business news, general news and regional news channels.
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