TV18 Broadcast reports strong EBITDA, revenue growth in 1Q

TV18 Broadcast Ltd.’s earnings before interest, tax, depreciation, and amortization (EBITDA) jumped 96 percent to `77 crore in the quarter ended June 30 on operating leverage accentuated by cost controls, said the company. The company’s consolidated revenue rose 10 percent to `1198 crore in the June 2019 quarter led by election advertising and strong growth in subscription income after the implementation of a new tariff order.

News, both broadcast and digital, benefitted from election-related advertising during the quarter. The company reported a profit of `23 crore compared with a net loss of `7 crore in the year-ago quarter.

TV18’s viewership share in news was 10.1 percent in the first quarter as against 9.3 percent post NTO implementation.
Adil Zainulbhai, chairman, Network18, said “amidst a challenging advertising environment and the implementation of a new tariff regime, the company has continued to focus on creating great content for all media. Our regional portfolio continues to grow across both broadcasting and digital, and we believe that the connect our growing brands enjoy with the diverse Indian populace shall stand us in good stead.”