In Q3 of FY23, TV18 reported a 12.8% increase in operating revenue, totaling Rs 1,768 crore as compared to Rs 1,567 crore in December 2021.
Despite this, the company’s EBITDA decreased by 94.8% to Rs 18.6 crore for the current quarter as compared to Rs 354.8 crore the previous year and EBITDA Margin dropped from 22.7% to 1.1%.
The company cited negative contributions from investments in new initiatives, digital entertainment and sports as a reason for the decline in EBITDA.
Net profit for the quarter was Rs 41.64 crore, a decrease of 79.22% from Rs 200.34 crore the previous year.
The company attributed the decrease in growth and profitability to a weak macroeconomic environment and soft advertisement demand, but noted strong audience engagement across various segments.
The company reported a 10% decrease in overall ad inventory on TV, with a 27% drop in the news category. Both news and entertainment segments also saw a decline in advertisement revenue.
TV18 News revenue decreased by 6% to Rs 327 crore, while entertainment revenue increased by 18% to Rs 1,441 crore as compared to Rs 1,220 crore in December 2021. Subscription revenue also saw a growth of 6% to reach Rs 490 crore.
For More Latest News Click Here
