Network 18 has announced its third quarter results of FY10. It has reported consolidated net loss of Rs 21.9 crore as against net loss of Rs 83.36 crore, on quarter-on-quarter basis (QoQ) and Rs 44 crore, on year-on-year basis (YoY).
Consolidated net sales increased to Rs 370 crore from Rs 281.7 crore (QoQ) and Rs 222.76 crore (YoY).
EBITDA (earning before interest, tax, depreciation and amortisation) was at Rs 8.11 crore versus loss of Rs 38.9 crore (YoY) and operating profit margin was at 2%.
Income from investments came in at Rs 19 crore versus Rs 37 crore and interest expenses declined to Rs 52.9 crore from Rs 55.6 crore, YoY.
Highlights
-Home Shop 18 revenue increased to Rs 15.223 crore versus Rs 7.58 crore
-TIFC revenue at Rs 31.6 crore versus Nil
-Set Pro revenue at Rs 21 crore versus Rs 15.6 crore
-Events and Sports management revenue at Rs 10.2 crore versus Rs 10.2 crore – flat
-Company turns EBITDA positive
-Consolidated revenues cross Rs 3.7 billion to post strongest growth ever
-7/9 channels are No 1 in respective categories
-Homeshop 18 Income doubles over Q3 last year
-Orders grow by 67% and 51% QoQ
-TIFC monetizes library on satellite TV
-Set to release 4 back to back films in JFM quarter
-Events and Sports revenue business surge 96% YoY
(Note: Web18, which owns Moneycontrol.com and Indiaearnings.com, belongs to the Network 18 Group).
Source: CNBC-TV18Courtesy moneycontrol.com
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