TV18 Broadcast Has presented excellent results for the quarter ended June 30, 2021. During this period, the consolidated earnings of the company has seen a growth of 40 percent on a yearly basis and has come to Rs 1155 crore. The company’s consolidated operating profit (EBITDA) during this period has also seen an increase of 323 per cent year-on-year and stood at Rs 188 crore.
On this occasion, the company has said in its statement that the focus on original content and the emphasis on monetization have helped in limiting the impact of the decline in advertising revenue due to Covid. The operating margin of 6.2 per cent achieved in the first quarter is the best figure achieved in any first quarter, despite the difficulties caused by the second wave of Covid.
The company’s entertainment segment margins stood at 17 per cent during this period and revenues from businesses other than the film business saw a 63 per cent year-on-year growth.
The company’s news segment has had a margin of 15 per cent during this period. Whereas in the same period, the company’s segment has seen a growth of 17 per cent year-on-year in its earnings. Most importantly, in the first quarter of FY 2021-22, the company has been able to bring its advertising revenue to the level of the first quarter (pre-covid level) of FY 20-21.
The company said in its statement that in the first quarter, our focus has been on cost reduction. Due to which the company has been successful in reducing its operating expenses by 14 percent on an annual basis.
The company has further said that the digital platform has also seen growth during the first quarter. The process of new consumer engagement with the company’s digital platform has continued over this period. The company’s pay-product Voot Select has been at the forefront of garnering 1 million subscribers and continues to show decent growth. The launch of the next season of Bigg Boss, one of India’s biggest entertainment programs, will be on Voot. Similarly, the watch time of the company’s education pay platform Voot Kids has seen a growth of 25 percent on a quarterly basis.
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