TV 18 reports Q3 revenue of Rs1,567cr, up 15.1% YoY

18 Jan 2022 , 04:26 PM

TV 18 Broadcast Ltd. announced its quarter three results on Tuesday. The company has reported the highest ever EBITDA at Rs 355cr, up by 64% YoY, with margins of 23%. The company’s entertainment business delivered stellar performance alongside its News business.

The company also reported the highest ever quarterly revenue of Rs 1,567cr, up by 15.1% YoY, its performance accelerated despite the pandemic shaking the entire movie industry.

Its new business witnessed a sharp acceleration in the margin to 27.2%, and revenue hopped by 13% YoY. While the entertainment business margin stood at 21.4%, revenue jumped by 16% YoY. Also, it witnessed a rise in PBT by 24% YoY to Rs 344cr, driven largely by growth in revenues, lower finance costs, and controlled operating expenses.

Colors was ranked No. 2 channel in the Hindi Genre, while OTT platform Voot continued to witness growth in paid subscriber base driven by impact properties, making the company’s share in the entertainment non-news genre 11%. Colors Rishtey saw a hike of 25% QoQ in viewership in Primetime (6-12 PM) and ranked #4 in the FTA GEC genre. While, company’s History TV18 ranked #2 in the Factual entertainment genre, with an urban market share of 18.1%.

TV industry saw all-time high advertising volumes in the third quarter steered mainly by robust consumer demand, hiked spending by existing brands for a higher share of voice, and new advertisers manoeuvring the medium to widen their reach.

Driven by the scaled advertising demand and a strong viewership share, both the News and Entertainment businesses of the company delivered strong growth in advertising revenues being ahead of FY’21 levels. Viacom 18 has also entered into a multi-year partnership with NBA to deliver live coverage of the regular season of basketball games and marquee events through its TV channels, and other digital platforms.

TV18 has a vast broadest network of 57 channels in India, across news and entertainment genres. One in every 2 Indians is a consumer of companies’ broadcast content. It also cater to the Indian diaspora globally through 21 international channels.

TV18 ended at Rs49.15 up by Rs0.35 or 0.72% from its previous closing of Rs48.80 on the BSE. The scrip opened at Rs48.90 and touched a intraday high and low of Rs50.80 and Rs46.15 respectively.