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Network18 Q2 Results: Cons Revenue at ₹1,825 Crores Down 2.22% YoY

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Synopsis:

Network18 Media & Investments Limited, one of India’s largest media conglomerates, has announced its Q2 FY2025 results. It includes popular brands like JioCinema, Moneycontrol, and more.

Network18 Q2 Results Financial Highlights (FY2025):

  • Consolidated Revenue: ₹1,825 crores, a slight decline of 2.2% YoY
  • Operating EBITDA: ₹(179) crores, an improvement from ₹(218) crores in Q2 FY2024
  • News Segment Revenue: ₹445 crores, a 5.9% YoY growth
  • Entertainment Segment Revenue: ₹1,339 crores, a 5.4% decline YoY
  • Subscription Revenue: ₹733 crores, a significant 43.6% YoY growth

NETWORK18 MEDIA & INV LTD

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Updated - 13 December 2024
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Network18 Q2 Results Lowlights (Q2 FY2025):

  • Decline in Entertainment Revenue: A 5.4% YoY decline in revenue for the entertainment segment, primarily due to no major movie releases during the quarter, compared to two big releases in Q2 FY2024.
  • Lower Ad Revenue in News Segment: The news segment saw a decline in TV advertising revenue, affected by a 20% YoY drop in industry-wide advertising volumes.
  • Increased Finance Costs: Finance costs increased to ₹170 crores from ₹66 crores in Q2 FY2024, impacting profitability.
  • Negative EBITDA in Entertainment: Entertainment segment EBITDA remained in negative territory at ₹(194) crores due to ongoing investments in sports and digital content.

Financial Performance Overview:

Despite a marginal 2.2% YoY drop in consolidated revenue, TV18 reported notable improvements in key segments. The News business showed robust growth, with a 5.9% increase in revenue driven by strong digital ad performance, while the Entertainment business saw a dip in revenue, mainly due to lower movie releases during the quarter.

The company’s EBITDA showed improvement, driven by better cost management and operational synergies post the merger of TV18 and E18, effective from October 3, 2024.

Key Operational Highlights:

Digital Portfolio Growth: Moneycontrol Pro crossed 9.2 lakh paid subscribers, reinforcing its leadership position in financial news. News18.com also saw a 40% YoY increase in page views.

TV News Network Performance: The network strengthened its leadership position with a 60bps QoQ increase in viewership share, leading in key markets with channels like CNBC TV18, CNN News18, and News18 India.

JioCinema’s Growth: JioCinema continued to be the fastest-growing OTT platform, crossing 16 million paid subscribers with a 100bps QoQ increase in Viacom18’s TV viewership share.

Detailed Financial Table:

Metrics

Q2 FY2025

Q1 FY2025

Q2 FY2024

Revenue from Operations (₹ Crores)

1,825

3,141

1,866

News Segment Revenue (₹ Crores)

445

453

420

Entertainment Segment Revenue (₹ Crores)

1,339

-

1,416

Subscription Revenue (₹ Crores)

733

-

511

Cons Operating EBITDA (₹ Crores)

-179

-

-218

Profit Before Tax (₹ Crores)

-148

-194

-118

Profit After Tax (₹ Crores)

-152

-195

-119

Results in Percentages:

Here are the key percentages from the TV18 Q2 FY2025 results:

Consolidated Revenue Decline: 2.2% YoY drop in consolidated revenue (₹1,825 crores in Q2 FY2025 vs ₹1,866 crores in Q2 FY2024).

News Segment Revenue Growth: 5.9% YoY growth in news segment revenue (₹445 crores in Q2 FY2025 vs ₹420 crores in Q2 FY2024).

Entertainment Segment Decline: 5.4% YoY decline in entertainment revenue (₹1,339 crores in Q2 FY2025 vs ₹1,416 crores in Q2 FY2024).

Subscription Revenue Growth: 43.6% YoY growth in subscription revenue (₹733 crores in Q2 FY2025 vs ₹511 crores in Q2 FY2024).

Viewership Increase: 60bps QoQ increase in TV news network viewership share.

JioCinema Growth: JioCinema saw a 100bps QoQ increase in Viacom18’s TV viewership share, crossing 16 million paid subscribers.

Management Commentary:

Mr. Adil Zainulbhai, Chairman of Network18, stated,
“We are happy to have completed the merger of our news businesses. With a strong portfolio of TV channels and digital platforms, covering the breadth of the country and catering to its linguistic diversity, we are ideally positioned to become the most preferred news network of India. We are committed to push boundaries of innovation and lead the growth of the industry as we build on this strong foundation.”

Conclusion:

TV18’s Q2 results highlight strong operational growth despite a slight revenue decline. The company's strategic investments in digital and sports content, coupled with the completion of the merger, position it well for continued leadership in India’s media landscape.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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