Network 18 Media & Investments reported a consolidated net profit of Rs 121.51 crore for the quarter ended June 30, 2021 against a loss of Rs 60.60 crore a year ago
Network 18 Media & Investments share price added over 6 percent in the early trade on July 22 after the company reported a consolidated net profit of Rs 121.51 crore for the quarter ended June 30, 2021 against a loss of Rs 60.60 crore a year ago.
Revenue from operations for Q1FY22 came in at Rs 1,214.43 crore compared to Rs 807.07 in Q1FY21 and Rs 1,414.70 crore in the March 2021 quarter.
“While advertising hit a speed-breaker (primarily in entertainment), growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment,” said Adil Zainulbhai, Chairman of Network18, on July 20.
Consolidated EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped six times from a year ago to Rs 188 crore against Rs 27 crore. The June 2020 quarter was affected by the first wave of COVID-19, however, even compared to the June 2019 quarter consolidate operating profits rose 306 percent.
The operating EBITDA margin for the quarter stood at 15.5 percent against 3.4 percent a year ago. The entertainment business margin was healthy at around 17 percent and the news margin at 15 percent.
At 0922 hours, Network 18 Media & Investments was quoting at Rs 52.45, up Rs 2.30, or 4.59 percent on the BSE.
Disclaimer: Network18 is a subsidiary of Network18 Media & Investments Ltd which publishes Moneycontrol.