Network18 Media gains 4% on Q2 results

The company’s EBITDA more than doubled yoy, as revenues are firmly on the road to a full recovery. Step-jump in EBITDA margins for both News and Entertainment to healthy levels.

Oct 28, 2020 10:10 IST India Infoline News Service

Network18 Media & Investments Limited Tuesday announced its results for the quarter and half year ended September 30, 2020. The consolidated operating revenue in Q2FY21 stood at Rs1,061cr compared to Rs1,174cr in Q2FY20 a de-growth of 10%. In H1FY21 operating revenue stood at Rs1,868cr compared to Rs2,419cr in H1FY20 a de-growth of 23%.

Consolidated Operating EBITDA for Q2FY21 stood at Rs166cr compared to Rs77cr in Q2FY20 a growth of 114%. In H1FY21 EBITDA was Rs193cr compared to Rs124cr, a growth of 56%. Operating EBITDA margin at 15.6%  in Q2FY21 compared to 6.6% in Q2FY20. In H1FY21, operating EBITDA was 10.3% compared to 5.1% in H1FY20.

At around, 10:38 am the company's stock is trading at Rs35.80 per piece up by Rs1.25 or 3.62% from its previous closing of Rs34.55 per piece on the BSE. The scrip opened at Rs36.25 and has touched a high and low of Rs36.95 per piece and Rs35.55 per piece respectively.

“Q2 EBITDA more than doubled yoy, as revenues are firmly on the road to a full recovery. Step-jump in EBITDA margins for both News and Entertainment to healthy levels. Digital business swung into profitability on sharp ad-growth and rising subscription revenue,” company said.

The company said that H1 Operating margins highest in four years despite Covid drag; continue to improve yoy. Ad-revenues rebounded as economic activity restarted on tapering of lockdowns.  News business’ advertising fully recovered, as viewership has settled at a higher level. Entertainment recovery near-complete; yoy ad-revenue dip reduced to single-digits now.

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