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Network 18 Media & Investments has confined their consolidated loss for the second quarter of the current fiscal to Rs 67.87 crore as against the loss of Rs 113.17 crore in the June-end quarter of FY19 on the back of strong revenue growth and improved operational performance.
The company had reported a loss of Rs 70.70 crore on revenue of Rs 326.86 crore for the quarter ended September 2017. Revenue from operations during Q2 FY19 grew by 10 per cent to Rs 1,237 crore compared to Rs 1,124.24 crore in June-end quarter.
Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) of Network18 in the July-September quarter rose nearly 400 per cent sequentially to Rs 92.1 crore and margin expanded to 7.4 per cent from 1.6 per cent during the previous quarter.
The company’s tax expenses for the quarter under review grew almost 2 times to Rs 24.5 crore as against to Rs 11.3 crore in the Q1 FY19.
The company said in the regulatory filing that consequent to Viacom18 Media Private Limited and IndiaCast Media Distribution Private Limited becoming subsidiaries with effect from March 2018 and TV18 Home Shopping Network Limited and NW18 HSN Holdings Plc ceasing to be subsidiaries and becoming associates with effect from February 15, 2018, the figures for the current quarter and half year are not comparable with those of the corresponding periods.
