The media company reported a consolidated net loss of Rs 50.09 crore in Q1 FY25 as against a net profit of Rs 44.33 crore reported in Q1 FY24.
Revenue from operations was at Rs 3,069.32 crore in Q1 FY25, down 3.36% from Rs 3,176.03 crore posted in Q1 FY24.
The company reported a pre-tax loss of Rs 116.55 crore in Q1 FY25 as compared with a profit before tax of Rs 89.49 crore recorded in the same period a year ago.
The firm reported a negative operating EBITDA of Rs 109 crore in Q1 FY25 as against a negative operating EBITDA of Rs 54 crore registered in Q1 FY24.
TV18 Broadcast said that the overall profitability was impacted due to continued investments in Viacom18.
In TV News segment, the media company said that the TV portfolio delivered over 30% advertising growth during the quarter. The network leveraged its leadership positions across key markets and election-linked advertising tailwinds to deliver industry-leading ad growth. Overall revenue growth moderated to 14% on account of other revenue streams being higher in the base quarter which got normalized in subsequent quarters in FY24. EBITDA for the quarter saw a sharp turnaround as revenue grew 14% while costs were flat.
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In Entertainment business, the operating revenue for the quarter was down 5% as IPL matches this season were held in Q4FY24 and Q1FY25, leading to a split of revenue across two quarters, compared to entire revenue being booked in Q1 of last fiscal. EBITDA for the quarter was impacted by Viacom18s continued investments in Sports and Digital segments, it added.
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.
Shares of TV18 Broadcast closed 0.53% lower at Rs 43.56 on Tuesday, 16 July 2024. The market is closed today on account of Muharram.
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