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Tag: IBN Lokmat

  • A repeat show for IBN Lokmat as Q1 net loss stands at Rs 40 million

    A repeat show for IBN Lokmat as Q1 net loss stands at Rs 40 million

    MUMBAI: IBN Lokmat, the joint venture company that runs the Marathi news channel, is still bleeding as its revenue stays flat even after completing three years of operations.

    The company has posted a net loss of Rs 40 million for the first quarter of the fiscal, similar to what it had registered in the corresponding quarter of the previous fiscal. In the trailing quarter, however, IBN Lokmat had reported a net loss of Rs 60 million.

    The main problem area for IBN Lokmat is that in a market which has two strong players – Zee 24 Taas and Star Majha- the channel’s revenue seems to have hit a ceiling while it has failed to curb expenses.

    Revenue for the quarter ended 30 June stood at Rs 40 million, same as the year-ago period. In the trailing quarter, revenue was Rs 30 million.

    IBN Lokmat’s quarter expenses stood at Rs 70 million, up from Rs 60 million the company incurred in the corresponding quarter of the previous fiscal. In the trailing quarter, expenses were at Rs 80 mllion.

    The channel’s Ebitda loss remained at Rs 30 million, same as the year-ago period, but less than the trailing quarter (Rs 60 million).

    IBN Lokmat was launched in March 2008 as a joint venture between Network18 Group and Lokmat.

  • IBN18 Q4 standalone net loss at Rs 110 mn, rev up 25%

    IBN18 Q4 standalone net loss at Rs 110 mn, rev up 25%

    MUMBAI: IBN18 Broadcast has reported a standalone net loss of Rs 110 million for the quarter ended 31 March, from a net loss of Rs 220 million it had posted in the corresponding quarter of the previous fiscal.

    The standalone results constitute the financials of English and Hindi news channels CNN-IBN and IBN7.

    Total income of the company during the quarter under review surged to Rs 690 million, up 25.45 per cent from the earlier year.

    Expenses rose to Rs 690 million, as against Rs 620 million in the corresponding quarter of the previous fiscal and Rs 640 million in the trailing quarter.

    IBN18 managed to be Ebitda positive, as compared to an operating loss of Rs 60 million in the year-ago period. In the trailing quarter, the Ebitda profit was at Rs 80 million.

    For the full fiscal ended 31 March, the company’s net loss has come down to Rs 490 million, from Rs 820 million in FY’10.

    Total income from news operations increased 16.19 per cent to Rs 2.44 billion, from Rs 2.10 billion a year ago, while expenses also surged to Rs 2.50 billion (from Rs 2.22 billion).

    Ebitda loss for the fiscal narrowed to Rs 50 million, from Rs 120 million a year ago.

    On a consolidated basis, IBN18’s net loss for the fourth-quarter stood at Rs 130 million, down from Rs 220 in year ago quarter. Total income was at Rs 2.06 billion, while expenditure stood at Rs 1.98 billion for the quarter. Operating profit was at Rs 80 million.

    For the full fiscal, the company posted a consolidated net loss of Rs 170 million, significantly lower than a net loss of Rs 1.10 billion in previous fiscal. Total revenue jumped to Rs 8.04 billion, while expenses were at Rs 7.57 billion. Operating profit was at Rs 480 million, as against loss of Rs 290 million.

    The consolidated results include financials of Viacom18 and IBN Lokmat. The company consolidated the financials of The Indian Film Company into Viacom18 from the third quarter of the fiscal.

    IBN18 shares closed Monday at Rs 88.45 on the BSE, down 0.39 per cent down the previous close.

  • IBN Lokmat Q3 net loss at Rs 30 million

    IBN Lokmat Q3 net loss at Rs 30 million

    MUMBAI: IBN Lokmat continues to be in losses even as it is close to completing three years.

    A joint venture between IBN18 and Lokmat Group, the Marathi news channel has posted a net loss of Rs 30 million for the three-month period ended December 2010. IBN Lokmat had reported a net loss of Rs 40 million in the year-ago period and Rs 60 million in the trailing quarter.

    Revenue has gone up to Rs 50 million, up from Rs 40 million in the year-ago period, as it coincided with the festive season. In the trailing quarter, the company reported a revenue of Rs 30 million.  
         
    IBN Lokmat has not been able to limit quarter expenses, which are at Rs 70 million in the quarter. The figure was same in the year-ago period as well as in the trailing quarter.

    The channel, however, reduced its Ebitda loss to Rs 20 million from Rs 30 million in the corresponding quarter of previous fiscal and Rs 40 million in the trailing quarter.

    IBN Lokmat was launched in March 2008 and faces tough competition from both Zee 24 Taas and Star Majha.
     

  • IBN18 narrows Q3 standalone net loss to Rs 10 mn

    IBN18 narrows Q3 standalone net loss to Rs 10 mn

    MUMBAI: IBN18 Broadcast has curtailed its standalone net loss to Rs 10 million for the quarter ended 31 December, from a net loss of Rs 109.63 million in the year-ago period.

    The standalone results constitute the financials of English and Hindi news channels CNN IBN and IBN7.

    Total income surged to Rs 720 million, up 24.14 per cent from the earlier year, on ad gains due to the festive season during the quarter.

    Meanwhile, expenses were under check at Rs 640 million as compared to Rs 525.98 million in the corresponding quarter of the previous fiscal.  
         
    IBN18 has reported operating profit of Rs 80 million for the quarter under review compared to an operating profit of Rs 60 million in the prior-year period.

    IBN18‘s consolidated net profit stood at Rs 200 million. Total income was at Rs 2.36 billion, while expenditure stood at Rs 2.04 billion for the quarter. Operating profit was at Rs 320 million.

    The consolidated results include financials of Viacom18, The Indian Film Company (50 per cent each) and IBN Lokmat.

  • Dilip Venkatraman is CNN-IBN CEO

    Dilip Venkatraman is CNN-IBN CEO

    MUMBAI: Network18 has promoted N Dilip Venkatraman to a newly created post of CEO, CNN-IBN. He will lead Network18‘s English news channel with immediate effect.

    In his new role, Venkatraman will be responsible for the strategic, financial and operational management of the channel.

    Network18 is going through a restructuring phase as it is preparing for its next phase of growth. The company had recently elevated Anil Uniyal to the newly created post of CEO – CNBC-TV18 and CNBC Awaaz. It had also moved Ajay Chacko, who was playing a critical role in looking after CNBC-TV18, CNBC Awaaz and Forbes India, to its new joint venture company, AETN18, as its president.  
         
      Earlier in his role as chief marketing officer of CNN-IBN, IBN7 and IBN-Lokmat, Venkatraman was leading marketing operations for all existing and upcoming IBN channels and managing IBN Focus, the alternative media solutions unit for the channels, as COO.

    Network18 Group COO B Saikumar said, “We believe that the English news market is poised for tremendous growth and CNN-IBN would be best placed to lead this emerging trend. In Dilip, we entrust the responsibility of managing this growth, ensuring sustained profitability and leading the drive to further enhance the brand’s equity and audience franchise.”

    Venkatraman is known for conceptualising properties at Network18 including CNN-IBN Indian of the Year, Real Heroes, IBN7 Diamond States Awards, Citizen Journalist Awards and IBN7 Super Idols.

    CNN-IBN, IBN7, IBN-Lokmat Editor-in-Chief Rajdeep Sardesai said, “Dilip has been a core member of the team instrumental in building the IBN news network into a leadership position, beginning with the launch of CNN-IBN in 2005. His remarkable success in communicating our values of inclusive journalism has helped us grow CNN-IBN into a clear leader in English news and ensured that CNN-IBN, IBN 7 and IBN Lokmat evolve into the stellar editorial brands that they are today and we’re confident that he’ll continue to contribute immensely in the next level of growth for CNN-IBN.”

    Venkatraman has over 19 years of corporate experience and prior to joining Network18, he held leadership positions at the India Today Group and Zee Network. He is a graduate in public administration and holds management qualifications from IIM Bangalore and Harvard Business School.

    Venkatraman added, “I believe that, right from the outset, CNN-IBN has set the agenda for news in the country with its unique brand of inclusive and passionate journalism which has inturn powered its growth. I hope to work closely with team CNN-IBN to further strengthen our editorial and market leadership.”

  • IBN Lokmat revenue stagnates, net loss widens

    IBN Lokmat revenue stagnates, net loss widens

    MUMBAI: Raghav Bahl is finding the regional language news space a tough nut to crack. Even after spending more than two years in the market, IBN Lokmat is in operating losses while revenue is showing signs of stagnating.

    Set up as the joint venture of IBN18 and Lokmat Group, the Marathi news channel has posted a net loss of Rs 60 million for the three-month period ended September 2010. IBN Lokmat had reported a net loss of Rs 50 million in the year-ago period and Rs 40 million in the trailing quarter.   
         
      Revenue has stagnated at Rs 30 million compared to the year-ago period. In the trailing quarter, the company reported a revenue of Rs 40 million.

    IBN Lokmat has not been able to limit quarter expenses, which are at Rs 70 million in the quarter (from Rs 60 million in earlier year).

    IBN Lokmat incurred an Ebitda loss of Rs 40 million in the fiscal‘s second quarter, higher than the earlier year period and trailing quarter (Rs 30 million).

    IBN Lokmat was launched in March 2008 and faces tough competition from both Zee 24 Taas and Star Majha.

  • Network18 to honour new generation of Indian leaders

    Network18 to honour new generation of Indian leaders

    MUMBAI: Network18 news channels – CNN-IBN (English), IBN7 (Hindi) and IBN-Lokmat (Marathi) – are set to honour the young and dynamic Indians who are the definitive pillars of our nation with ‘Young Indian Leader awards – A Network18 Initiative’.

    Network18 will award the progressive leaders who symbolise optimism of the country.  
         
      ‘Young Indian Leaders’ adheres to a process of selection which has the Network18 editorial board at its core. The general public also can choose and nominate their favourite Young Indian Leaders from various walks of life. The Network18 editorial board will then deliberate to finalise 10 winners keeping in mind their sterling contribution in their respective fields.

    CNN-IBN, IBN7 and IBN-Lokmat Editor-in-Chief Rajdeep Sardesai said, “It gives us immense pride to honour those young Indian leaders who catapulted to great heights by carving a niche for themselves through their sheer commitment and dedication.”

  • IBN Lokmat Q1 narrows net loss to Rs 40 mn

    IBN Lokmat Q1 narrows net loss to Rs 40 mn

    MUMBAI: Marathi news channel IBN Lokmat has narrowed its first-quarter net loss to Rs 40 million as revenue jumps over the earlier-year period.

    A joint venture between IBN18 and Lokmat Group, IBN Lokmat had kicked in losses of Rs 70 million in the year-ago period.

    Income from operations jumped 194 per cent to Rs 40 million, from Rs 10 million in the first quarter of FY‘10.

    Revenue, however, has dropped from the trailing quarter which had seen an income of Rs 50 million.  
         
      Operating loss (Ebitda) dropped to Rs 30 million, from Rs 60 million in the prior year. However, it was higher than Rs 20 million posted in the trailing quarter.

    IBN Lokmat‘s expenses remained flat at Rs 70 million, indicating that costs had more or less stabilised.
     

  • IBN18: Losses rise; operational efficiency improves

    IBN18: Losses rise; operational efficiency improves

    MUMBAI: Things appear to be looking up at an operational level for IBN18 if one considers the company’s financial results for the year ended 31 March 2010. There has been a healthy jump in revenues and a slight fall in costs on a standalone basis. This, after last fsical’s operational losses, is a positive sign. However, from the shareholders viewpoint further improvements will have to be done by the management since IBN18’s overall net loss has widened to Rs 821 million in the year, as compared to Rs 682.21 million in FY09.

    The standalone results include the performance of the two news channels CNN IBN and IBN7.

    The company has posted a 15.9 per cent jump in the revenue for the fiscal at Rs 2.1 billion, as compared to last fiscal’s Rs 1.81 billion. Also its expenses have dipped marginally to Rs 2.37 billion from Rs 2.41 billion in FY09.

    IBN18’s other income rose considerably this fiscal at Rs 536.51 million, as compared to Rs 39.86 million. Interest charges have also shot up and at Rs 433.92 million these are 126.6 per cent higher than FY09 where they were Rs 191.5 million. For FY10, the company posted an operating profit (Ebitda) of Rs 415.89 million as against an Ebitda loss of Rs 391.32 million.

    On a consolidated basis, IBN18’s revenue rose considerably from Rs 1.83 billion in FY09 to Rs 6.03 billion FY10, mainly because of accrual of its JV partner Viacom18’s revenue to its balance sheet. However, it also added to the expenses of the firm at Rs 6.55 billion, as against Rs 2.57 billion in FY09. The net loss the firm made on a consolidated basis is Rs 1.1 billion in FY10, up from last fiscal’s 920 million. However, after adding the other income of Rs 548 million in the fiscal, the company has turned Ebitda positive at Rs 239.61 million, as against an operating loss of Rs 512.31 million in previous fiscal.

    On a consolidated basis, IBN18 has included the financial results of its 50 per cent joint venture stakes in Viacom 18 and IBN Lokmat. Viacom18 which has had a net loss of Rs 429.9 million contributed Rs 168.8 million to IBN 18’s consolidated net loss in FY10. IBN Lokmat on the other hand sustained a net loss of Rs 210.9 million and contributed a further Rs 105.4 million to the firm’s consolidated net loss.

    One of the reasons the company’s net loss in FY10 has gone up even though its operational workings have improved, is due to a provision made for an expected diminution in value of investments, to the tune of Rs 658.94 million on a standalone basis and Rs 658.1 million on a consolidated basis.

    IBN18’s share price closed at Rs 83 on the Bombay Stock Exchange on Friday.

  • Shiv Sena ransacks Mumbai office of IBN7, IBN Lokmat

    Shiv Sena ransacks Mumbai office of IBN7, IBN Lokmat

    MUMBAI: IBN7 and IBN Lokmat’s Mumbai office was ransacked by Shiv Sena activists on Friday, using iron rods, cricket stumps and baseball bats.

    A mob of 20-30 people attacked journalists and damaged property at the offices of the IBN Network. The attackers told employees that they would not accept reports criticizing the Shiv Sena and their supremo Bal Thackeray.

    The police later arrested seven Shiv Sena activists for vandalising these offices.

    Meanwhile, eight Shiv Sena workers in Pune were arrested for damaging an IBN7 OB van and pelting stones at the channel’s office in the city.

    Reportedly, attackers in Mumbai told employees they were looking for IBN Lokmat editor-in-chief Nikhil Wagle, and wanted to “teach him a lesson”.

    Condemning the attack, Broadcast Editors’ Association has issued a statement, describing it as an “attack on freedom of expression” and the handiwork of elements who want to undermine the role of pen, microphone and camera. “Such attacks go against the basic tenets of democracy and need to be condemned in the harshest possible terms,” it said.