Moneycontrol Bureau
TV18 Broadcast's revenues for 2012-13 rose 20% to Rs 1699.1 crore, the company said Monday.
The company turned corner at the operational level, reporting a profit of Rs 112.1 crore against an operating loss of Rs 61.8 crores for the previous year, marking a Rs 174 crore swing year-on-year.
The strong topline growth helped the company trim its full year loss to Rs 25.5 crore from Rs 73.8 crore the previous year
Advertising revenues, the biggest contributor to the topline, grew roughly 8 percent to Rs 1,048.3 crore.
For the quarter ended March 31, 2012, the company reported a net profit of Rs 17.3 crore on revenues of Rs 474.7 crore. This is the second consecutive quarter of profit.
Also Read: Network18 FY13 revenues up 23%; e-commerce biz up threefoldFor the full year, broadcasting and motion pictures operations turned in a profit of Rs 165 crores (excluding one-time expenses/revenues and losses towards new launches and discontinued operations), more than twice the Rs 75.9 crore earned in FY12. Net distribution income (subscription revenue minus carriage fee and commissions paid to cable operators and DTH providers) turned positive at Rs 15.7 crore for the year, compared to an outflow of Rs 101 crore last year.
TV18's net debt is now down to Rs 197 crore, compared to Rs 1132 crore at the end of September 2012.
"We have successfully deleveraged our balance sheet and have delivered strong operating performance," said Raghav Bahl, Managing Director,
Network18, in the earnings release.
Group CEO B Saikumar said the company was hopeful of delivering a strong operational performance this year too, despite macro-economic headwinds.
"We are now on a solid Net Distribution Income trajectory and while our flagship channels like CNBC TV18/Awaaz, Colors and CNN IBN continue to perform admirably, we are also enthused by the performance of recent launches and the motion pictures business," Saikumar said in the release.
Operating profit for the business news operations stood at Rs. 100.8 crore as compared to Rs. 54.7 crores in FY12, with operating margins doubling to 34 percent from 17 percent. The company attributed the strong margins to expansion of net distribution income.
The general news operations broke into positive territory for FY13, reporting an operating profit of Rs. 3.2 crore for the year as compared to a loss of Rs. 4.3 crore the year before.
For the quarter ended March 31, 2013, total revenues stood at Rs 474.7 crore, down 7.5 percent over the December quarter. Quarterly net profit was Rs 17.3 crore, down 19 percent sequentially.
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