Network18 Media & Investments reported a pre-tax loss of Rs 194.13 crore in Q1 FY25 as against pre-tax profit before tax of Rs 27.46 crore reported in the same period a year ago.

Total expenses stood at Rs 3,509.46 in the June quarter, up 2.24% YoY. Marketing, distribution and promotional expense stood at Rs 509.55 crore (down 2.95% YoY) while finance cost surged 120.19% to Rs 150.37 during the period under review.

The company’s consolidated negative EBITDA widened to Rs 109 crore in Q1 FY25 as compared to negative EBITDA of Rs 55 crore recorded in Q1 FY24.

The TV News portfolio delivered more than 30% advertising growth during the quarter. The network leveraged its leadership positions across key markets and election-linked advertising tailwinds to deliver industry-leading ad growth. Overall revenue growth moderated to 14% on account of other revenue streams being higher in the base quarter which got normalized in subsequent quarters in FY24.

Digital news business delivered a 34% growth in revenue during the quarter. EBITDA for the quarter declined marginally as costs grew at a higher pace than revenue.

In entertainement segment, operating revenue for the quarter was down 5% as IPL matches this season were held in Q4FY24 and Q1FY25, leading to a split of revenue across two quarters, compared to entire revenue being booked in Q1 of last fiscal.

JioCinema’s non-sports advertising revenue saw a sharp jump driven by a mix of digital original content and network shows, albeit on a small base.

On 10 July 2024, the shareholders and unsecured creditors of Network18 Media & Investments, TV18 Broadcast and e-Eighteen.com approved the scheme of arrangement for amalgamation of these companies. The company is in the process of obtaining other requisite approvals for completion of the merger.

Adil Zainulbhai, chairman of Network18, said, “I would like to thank the shareholders of TV18, e-Eighteen.com, and Network18 for wholeheartedly approving the merger. Their faith inspires us to do even better as we continue in our journey of creating a media powerhouse. We truly believe that this merger will be a stepping-stone for us to build a long and lasting legacy.”

Network18 Media & Investments (Network18 Group) is a diversified media and entertainment (M&E) conglomerates, with interests across television, digital content, filmed entertainment, e-commerce, print and allied businesses. TV18 Broadcast, a subsidiary of Network18, manages its primary business of broadcasting. It runs the largest news network in India, spanning business news general news, and regional news.

The scrip closed 1.32% lower at Rs 83.70 on Tuesday, 16 July 2024. The market is closed today on account of Moharram.