TV18 Broadcast Q4 Results: Profit Tumbles 75%, Revenue Meets Estimates
TV18's net profit fell 75.49% to Rs 35.19 crore in the March quarter as revenue declined 6% to Rs 1,406 crore.
Revenue growth at TV18 Broadcast Ltd. fell in the March quarter, but met analyst estimates.
The media company's revenue declined 6.03% from the year-ago period to Rs 1,405.9 crore in the last quarter of the fiscal, according to an exchange filing on Monday. That compares with the Rs 1,380-crore consensus estimate of analysts tracked by Bloomberg.
TV18 Broadcast Q4 Results: Key Highlights (YoY)
Revenue down 6.03% to Rs 1,405.9 crore, as against an estimate of Rs 1,380 crore.
Net profit falls 75.49% to Rs 35.19 crore.
Ebitda declines 69.62% to Rs 77.16 crore, as compared with an estimate of 101.7 crore.
Ebitda margin at 5.48% vs 16.97%. Analysts had estimated it at 7.4%.
The quarterly results come days after TV18 subsidiary Viacom18 Media Pvt. said the merger of Reliance Storage Ltd. with itself became effective following the sanction from the Mumbai bench of the National Company Law Tribunal.
Viacom18 has allotted shares to Reliance Industries Ltd.'s group entities and Bodhi Tree Multimedia Ltd., as consideration for the scheme of merger. Viacom18 has also completed the integration of JioCinema with itself.
TV18 Broadcast now holds 50.99% stake in Viacom18, while joint venture partner Paramount Global has 48.99% equity. Bodhi Tree has 0.01% equity.
On Monday, shares of TV18 Broadcast rose 1.63% to Rs 30.64 apiece on the BSE, even as the benchmark Sensex ended the day 0.86% lower at 59,910.75 crore. The quarterly results were declared after market hours.
