Network18 narrows net loss to Rs 27.43 cr in Q2 FY16

Income from operations for Q2 FY16 stood at Rs 801.1 crore, up by 8 per cent YoY from Rs 744.8 crore in Q2 FY15

BestMediaInfo Bureau | Mumbai | October 15, 2015

Network18 reported loss after tax, minority interest and share of profit of associates of Rs 27.43 crore for Q2 FY16 as opposed to net loss of Rs 36.47 crore in QY FY15.

Q2 FY16 loss before tax (before exceptional and prior period items) on a consolidated basis reduced to Rs 8.5 crore from loss of Rs 14.8 crore in Q2 FY15.

The consolidated operating PBDIT in Q2 FY16 stood at Rs 19.2 crore, up 11 per cent YoY from Rs 17.4 crore in the corresponding period of last fiscal.

Network18 cut its loss after tax and minority interest to Rs 28.57 crore for H1 FY16 compared to a loss of Rs 1058.3 crore in the same period of FY15.

H1 FY16 loss before tax (before exceptional and prior period items) on a consolidated basis reduced to Rs 2.6 crore from a loss of Rs 58.7 crore in H1 FY15.

H1 FY16 EBITDA included profit of Rs 43 crore from sale of stake in Stargaze Entertainment.

Income from operations for Q2 FY16 stood at Rs 801.1 crore, up by 8 per cent YoY from Rs 744.8 crore in Q2 FY15.

The half yearly operating income stood at Rs 1594.8 crore, a growth of 10 per cent YoY over Rs 1453.23 crore in Q2 FY15.

Segment wise performance

The operating income from media operations for Q2 FY16 stood at Rs 758.51 crore compared to Rs 724.97 crore in Q2 FY15. Profit before interest and tax for media operations in Q2 FY16 was reported at Rs 4.55 crore, as against Rs 3.99 crore in Q2 FY15.

The half yearly operating income from media operations stood at Rs 1477.30 crore, while the same was pegged at Rs 1419 crore during the period ended September 30, 2014. The half yearly loss before interest and tax for the period ending September 30, 2015 was down to Rs 10.84 crore from loss of Rs 79.72 crore in H1 of FY15.

Income from film production and distribution for Q2 FY16 stood at Rs 42.62 crore, as against Rs 19.85 crore in the corresponding quarter last fiscal. Profit before interest and tax for film production and distribution in Q2 FY16 was Rs 1.9 crore, as against a loss of Rs 4.37 crore in Q2 FY15.

The half yearly income from film production and distribution stood at Rs 95.22 crore, which was significantly up from Rs 34.16 crore in H1 of FY15. The half yearly profit before interest and tax was recorded at Rs 3.23 crore compared to loss of Rs 5.3 crore in the corresponding period of last fiscal.

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