ITV

Tag: QoQ

  • Q3-2016: DB Corp print revenue up 22%, radio revenue up 35%; radio op profit almost double

    Q3-2016: DB Corp print revenue up 22%, radio revenue up 35%; radio op profit almost double

    BENGALURU: DB Corp Limited (DB Corp), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar reported 22.5 per cent QoQ increase in Total Income from operations (TIO) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). The company reported TIO of Rs 585.89 crore in the current quarter as compared to Rs 478.33 crore in the immediate trailing quarter. YoY, TIO increased 5.7 per cent as compared to Rs 554.57 crore in Q3-2015.

     

    Revenue growth was driven by a 21.9 per cent QoQ growth in revenue from the company’s print segment at Rs 539.28 crore as compared to Rs 442.24 crore and a 34.9 per cent QoQ growth in the company’s radio segment revenue at Rs 32.32 crore (5.5 per cent of TIO) as compared to Rs 23.96 crore (five per cent of TIO). YoY, revenue from print segment increased 3.9 per cent as compared to Rs 518.9 crore, while radio segment revenue increased 25.8 per cent as compared to Rs 25.69 crore (4.6 per cent of TIO).

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    Operating Results/PAT

     

    The company reports revenue from five segments:  Printing and publishing of newspaper and periodicals (Printing segment); Radio segment (under the brand My FM); Events; Internet; and power. Two of the segments are major contributors to the revenue – printing and radio and their numbers have been considered in this report.

     

    The company reported 80.7 per cent QoQ growth in profit after tax (PAT) for the current quarter at Rs 108.63 crore (18.2 per cent margin) as compared to Rs 59.12 crore (12.4 per cent margin) and grew 1.6 per cent YoY as compared to Rs 105.11 crore (19 per cent margin).

     

    The company’s print business reported 73.5 per cent QoQ increase in operating profit at Rs 162.91 crore as compared to Rs 93.91 crore and increased 3.3 per cent YoY as compared to Rs 157.76 crore.

     

    Radio business reported almost double the operating profit (grew by 98.7 per cent) QoQ at Rs 12 crore as compared to Rs 6.04 crore and increased 27.1 per cent YoY as compared to Rs 9.44 crore.

     

    Advertisement and subscription revenue

     

    The company says that its advertising revenue declined 0.6 per cent YoY to Rs 391.2 crore in the current quarter as compared to Rs 393.4 crore in the corresponding quarter of last year, but increased 27 per cent QoQ as compared to Rs 307.9 crore. Circulation revenue increased 17.8 per cent in YOY in Q3-2016 to Rs 114.1 crore as compared to the Rs 96.9 crore and grew eight per cent QoQ as compared to Rs 105.7 crore.

     

    DB Corp managing director Sudhir Agarwal said, “The success of our yield strategy has begun delivering encouraging results as we make aggressive efforts to gain back volume growth across our legacy and emerging markets, which have started responding well. We have taken every step to maintain our leadership position and we continue to be the largest circulated newspaper since last three years while we are the fourth largest circulated newspaper in the world – a great honour and responsibility for us. Our focus on stronger operating efficiencies and better expense management has ensured our financial health while softened newsprint costs have also protected our profitability.

    Our non-print businesses are well on course as our digital business continues to gather momentum and our radio business strategy maintains commendable progress as we prepare to commence operations of the newly acquired stations over four to six months. The government is in the midst of introducing structural reforms with a long term vision and we believe that present green shoots will translate into a positive pick up for a better economic environment.”

  • Q3-2016: DB Corp print revenue up 22%, radio revenue up 35%; radio op profit almost double

    Q3-2016: DB Corp print revenue up 22%, radio revenue up 35%; radio op profit almost double

    BENGALURU: DB Corp Limited (DB Corp), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar reported 22.5 per cent QoQ increase in Total Income from operations (TIO) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). The company reported TIO of Rs 585.89 crore in the current quarter as compared to Rs 478.33 crore in the immediate trailing quarter. YoY, TIO increased 5.7 per cent as compared to Rs 554.57 crore in Q3-2015.

     

    Revenue growth was driven by a 21.9 per cent QoQ growth in revenue from the company’s print segment at Rs 539.28 crore as compared to Rs 442.24 crore and a 34.9 per cent QoQ growth in the company’s radio segment revenue at Rs 32.32 crore (5.5 per cent of TIO) as compared to Rs 23.96 crore (five per cent of TIO). YoY, revenue from print segment increased 3.9 per cent as compared to Rs 518.9 crore, while radio segment revenue increased 25.8 per cent as compared to Rs 25.69 crore (4.6 per cent of TIO).

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    Operating Results/PAT

     

    The company reports revenue from five segments:  Printing and publishing of newspaper and periodicals (Printing segment); Radio segment (under the brand My FM); Events; Internet; and power. Two of the segments are major contributors to the revenue – printing and radio and their numbers have been considered in this report.

     

    The company reported 80.7 per cent QoQ growth in profit after tax (PAT) for the current quarter at Rs 108.63 crore (18.2 per cent margin) as compared to Rs 59.12 crore (12.4 per cent margin) and grew 1.6 per cent YoY as compared to Rs 105.11 crore (19 per cent margin).

     

    The company’s print business reported 73.5 per cent QoQ increase in operating profit at Rs 162.91 crore as compared to Rs 93.91 crore and increased 3.3 per cent YoY as compared to Rs 157.76 crore.

     

    Radio business reported almost double the operating profit (grew by 98.7 per cent) QoQ at Rs 12 crore as compared to Rs 6.04 crore and increased 27.1 per cent YoY as compared to Rs 9.44 crore.

     

    Advertisement and subscription revenue

     

    The company says that its advertising revenue declined 0.6 per cent YoY to Rs 391.2 crore in the current quarter as compared to Rs 393.4 crore in the corresponding quarter of last year, but increased 27 per cent QoQ as compared to Rs 307.9 crore. Circulation revenue increased 17.8 per cent in YOY in Q3-2016 to Rs 114.1 crore as compared to the Rs 96.9 crore and grew eight per cent QoQ as compared to Rs 105.7 crore.

     

    DB Corp managing director Sudhir Agarwal said, “The success of our yield strategy has begun delivering encouraging results as we make aggressive efforts to gain back volume growth across our legacy and emerging markets, which have started responding well. We have taken every step to maintain our leadership position and we continue to be the largest circulated newspaper since last three years while we are the fourth largest circulated newspaper in the world – a great honour and responsibility for us. Our focus on stronger operating efficiencies and better expense management has ensured our financial health while softened newsprint costs have also protected our profitability.

    Our non-print businesses are well on course as our digital business continues to gather momentum and our radio business strategy maintains commendable progress as we prepare to commence operations of the newly acquired stations over four to six months. The government is in the midst of introducing structural reforms with a long term vision and we believe that present green shoots will translate into a positive pick up for a better economic environment.”

  • Q1-16: Prime Focus YoY revenue up 28.1 percent

    Q1-16: Prime Focus YoY revenue up 28.1 percent

    BENGALURU: Prime Focus Limited (PFL) has reported a 28.1 percent YoY revenue growth for the quarter ending September 30, 2015 (Q1-2016, current quarter) at Rs 448.57 crore as compared to the Rs 350.17 crore in Q1-2015. However, QoQ, the company’s revenue declined 13.4 percent from Rs 518.21 crore.

    Notes: (1) 100,00,000 = 100 lakh = 10 million =1 crore

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence YoY comparison is being done between Q1-2016 and Q1-2015 and QoQ comparison is between Q1-2016 and  Q4-2015 (quarter ended June, 2015).

    The company’s quarterly bottom line has been negatively affected due to significant exceptional costs primarily in relation to previously announced divestiture of PFL PLC and planned restructuring / integration costs in relation to the merger with Double Negative. In Q1-2016, this amounted to Rs 12.26 crore, in Q4-2015 it was 159.29 crore and in Q1-2015 this figure was Rs 34.27 crore.

    The company reported a net loss of Rs 22.51 crore in Q1-2016; a loss of Rs 22.01 crore in Q1-2015 and a loss of Rs 213.76 crore in the immediate trailing quarter Q4-2015.

    The company’s simple EBIDTA for Q1-2016 at Rs 52.07 crore (11.6 percent margin) more than quadrupled (4.7 times) YoY from Rs 11.19 crore (3.2 percent margin, but declined 39.6 percent from Rs 86.17 crore (16.6 percent margin) in Q4-2015.

    Let us look at the other numbers reported by PFL

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q1-2016 at Rs 282.57 crore (61.6 percent of TIO) increased 21.4 percent YoY from Rs 232.77 crore (60.4 percent of TIO) and increased 7.4 percent QoQ from Q4-2015 at Rs 263.11 crore (50.8 percent of TIO).

    Technician’s Fees in the current quarter increased 53.8 percent YoY to Rs 9.77 crore (2.2 percent of TIO) from Rs 6.35 crore (1.8 percent of TIO) and increased 6.1 percent QoQ from Rs 9.21 crore (1.8 percent of TIO)

    Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the eleven quarters starting Q4-2013 until the current quarter Q1-2016.  EBE has been the highest in Q1-2016 (61.6 percent) in terms of absolute rupees, but in terms of percentage of TIO, it was highest in Q3-2015 at 64 percent

    Finance and Interest costs in Q1-2016 at Rs 17.75 crore (4 percent of TIO) increased 12 percent YoY from Rs 15.84 crore (4.5 percent of TIO), but declined 30.1 percent QoQ from Rs 25.39 crore (4.9 percent of TIO).

  • Q2-2015: US Cable industry: Internet, biz services continue as growth drivers; video continues to lose subscribers

    Q2-2015: US Cable industry: Internet, biz services continue as growth drivers; video continues to lose subscribers

    BENGALURU: The cable industry in the US continues to bleed video subscribers, albeit slower than earlier, while internet and business services continue to be growth drivers in terms of subscription numbers and revenue, if one were to go by the results reported by five major players in the US for the quarter ended 30 June, 2015 (Q2-2015). Overall, YoY and QoQ subscription numbers or customer relationships of the bigger three of the five players in this report have increased.

    The five players in this report are Comcast Inc., Cable Communications segment, the largest player by far among the sample players in this report; Time Warner Cable, Inc., (TWC), a little less than half the size of Comcast’s Cable communications segment in terms of revenue; Charter Communications with revenues that are less than half again as TWC’s. Cablevision, the fourth player in the sample had a little more than two-thirds of Charter’s revenues in Q2-2015, while the smallest, Suddenlink whose major operating areas includeArizona, Arkansas, Louisiana, North Carolina, Oklahoma, Texas, West Virginia, had revenue that was a little more than a third of Cablevision’s revenue in Q2-2015.  

    Despite the continued slide in video customer relationship, the combined sum of video subscribers in Q2-2015 of the five entities is about 4.09 crore or almost two thirds (62 per cent) of the 6.6 crore video subscribers through wire in the US as of 2013. The five players in this report are generally considered amongst the biggest players in the US cable television industry. All have three major revenue streams – Video, Internet and Voice (VIVE).

    Note: (a) 100,00,000 = 100 lakh = 10 million = 1 crore

    (b) While denominations for $have been mentioned in millions or billions where applicable, denominations for numbers have been mentioned lakhs and crores.

    (c)Residential customer relationship numbers have been used in this report wherever the breakup has been mentioned in SEC filings by the concerned entity.

    (d) The results and the conclusions in this report may not necessarily reflect the true trends and nature of the cablecommunications industry in US.

    It is noteworthy that an even smaller company, Mediacom Broadband alone, without Mediacom LLC numbers, had revenue of about $246 million (Rs 1626.53 crore, ($1 = Rs 63.5363 as on 30 June, 2015) in Q2-2015, many times more than the revenue generated by the largest cable company in India. Mediacom Broadband’s revenue was less than half $608.02 million revenue reported by Suddenlink in Q2-2015.

    Performance in Q2-2015

    In general, six streams add to most of the five entities’ revenue – three products -Video, high speed Internet, Voice; Business Services (BS); Advertising; and Other. Collectively, the first three have been given the acronym VIVE by the author. Generally VIVE numbers, be they subscription or revenue indicate residential subscribers and revenue from these subscribers in this report. Some of the companies don’t indicate the breakup of VIVE revenue from business services, and hence these figures could be included in the overall VIVE revenue .This reports examines VIVE and touches briefly upon business services of some of the players in this report later on.

    In general, Internet has been driving growth, both in terms of revenue and subscription numbers. Contribution by business services is growing and is in the sub or low double digits in terms of percentage of overall revenue.

    Subscription numbers in Q2-2015

    Figure A below displays the subscription numbers of the five players considered in this report. Individual as well as combined Video subscribers or Video customer relationships have dropped year-on-year (YoY) and quarter-on-quarter (QoQ) during Q2-2015. Internet subscription numbers of all the five players in this report have increased, while Voice subscription numbers of four of the five companies have gone up. Cablevision has reported a small dip in Voice subscription numbers in Q2-2015.

    YoY and QoQ combined Total Customer Relationships of all the five players have gone up in Q2-2015 by 2.03 per cent and 0.24 per cent respectively. In Q2-2015, the combined Total Customer Relationships of all the five companies was 525.64 lakh as compared to 515.19 lakh in Q2-2014 and 524.41 lakh in Q1-2015. Though QoQ customer relationships of all the five companies have gone up, in the case of Cablevision and Suddenlink, customer relationships were actually lower in Q2-2015. Cablevision saw a decline 1.52 per cent in Q2-2015 to 31.17 lakh as compared to the 31.65 lakh in Q2-2014, while Suddenlink saw a QoQ decline of 0.86 per cent to 14.39 lakh in Q2-2015 from 14.52 lakh.

    Video

    As mentioned above, the US Cable communications industry continues to lose video customers. YoY, the combined Total Customer Relationships declined 1.53 per cent to 409.40 lakh in Q2-2015 as compared to the 415.74 lakh. QoQ the decline was 0.47 per cent from 411.32 lakh. Suddenlink saw the highest YoY drop among the five players in this report in Video subscribers at 5.66 per cent (lost 66200 subscribers) to 11.03 lakh in the current quarter as compared to 11.69 lakh in Q2-2014. Suddenlink’s YoY decline in Video customers was also the steepest among the five companies at 2.6 per cent (lost 29400 subscribers) from 11.32 lakh in Q1-2015. 

    In absolute numbers, TWC had the highest YoY decline of video subscribers among the five players in the current quarter of 2.27 lakh to 107.74 lakh from 110.11 lakh. QoQ, Comcast’s Cable communications has seen the largest fall in absolute numbers among the 5 companies, a fall of 69,000 (0.31 per cent) Video subscribers in Q2-2015 to 223.06 lakh from 223.75 lakh in the immediate trailing quarter.

    Internet

    Overall, the five entities reported a 6.07 per cent YoY increase in Internet subscribers in Q2-2015 at a combined total of 436.33 lakh from 411.36 lakh in the corresponding year ago quarter and a one per cent increase from 432.01 lakh in the immediate trailing quarter. The five entities gained 24.965 lakh subscribers YoY and 4.322 lakh subscribers QoQ in Q2-2015. As is obvious, the number of internet subscribers exceeds the number of video subscribers.

    All the five companies in this report witnessed a YoY increase in Internet subscribers. Charter had highest growth in percentage terms at 8.6 per cent ( gained 3.93 lakh subscribers) increase in Internet subscription in Q2-2015 with the subscriber base reaching 49.61 lakh from 45.68 lakh in the corresponding year ago quarter and 1.43 per cent higher (gained 70000 subscribers) QoQ from 48.91 lakh. 

    QoQ, both TWC (gained 7.47 lakh subscribers) and Charter reported 1.43 per cent growth in Q2-2015, while Comcast and Cablevsion reported 0.80 (gained 1.79 lakh subscribers) and 0.51 growth (gained 14000 subscribers) in Internet subscribers. Suddenlink reported a slight QoQ decline of 0.24 per cent (lost 2800 subscribers) to 11.81 lakh in the current quarter as compared to the 11.84 lakh in the immediate trailing quarter.

    In absolute numbers, Comcast Cable Communications reported the highest YoY and QoQ Internet subscription growth among the five companies in Q2-2015 at 12.77 lakh (six per cent) and 1.79 lakh (0.80 per cent) respectively.

    Voice

    The five entities reported a 6.19 per cent YoY growth and a 1.48 per cent QoQ growth in combined Total Voice Subscriber base of 224.55 lakh in Q2-2015. This translates to a YoY increase of 13.092 lakh and QoQ increase of 3.275 lakh subscribers in absolute numbers.

    Except for Cablevision, the other four players reported YoY and QoQ increase in subscription numbers. Cablevison reported a YoY decline of 2.86 per cent (65000) and a QoQ decline of 0.32 per cent (7000) in Voice Subscribers in Q2-2015 to 22.08 lakh from 22.73 lakh in Q2-2014 and from 22.15 lakh in Q1-2015 respectively.

    The highest YoY growth in Voice subscribers among the five players in this report in Q2-2015 in percentage as well as absolute numbers was 17.71 per cent and 8.81 lakh by TWC, which saw its numbers grow to 58.56 lakh from 47.75 crore in Q2-2014. TWC also reported the highest QoQ growth in percentage and absolute terms in Voice subscribers among the five players by 4.5 per cent and 2.52 lakh to 58.56 lakh in Q2-2015.

    Single, double and triple play numbers

    Four of the five players have indicated the breakup of their single, double and triple play customer relationships.

    Generally, all have been losing single play and double play subscribers either because of conversion from single to double or triple play, or from double to triple play, or because of subscriber churn, while Suddnelink has also reported numbers than indicate growth in its non-video customer relationships.

    Revenue numbers in Q2-2015

    Please refer to Fig A1 below. Combined Total revenue of all the five players in this report increased YoY 2.46 per cent ($517 million) to $21566 million from $21049 million in Q2-2014, but declined 0.2 per cent ($43 million) from $21609 million in Q1-2015. Charter saw the largest YoY increase of total revenue in percentage terms among the five at 7.57 per cent ($171 million) in Q2-2014. In absolute numbers, Comcast Cable Communications segment reported the highest YoY growth of total revenue of $700 million (6.35 per cent) and QoQ growth of $399 million (2.62 per cent) in the current quarter. QoQ, Suddenlink saw the highest growth in Total revenue among the 5 players in percentage terms of 3.36 per cent ($28 million) in Q2-2015.

    Combined YoY and QoQ VIVE revenues of all the five entities increased 5.15 per cent ($890 million) and 1.43 per cent ($257 million) respectively in Q2-2015$ 18170 million. Here also, Charter reported the highest YoY growth in percentage terms of VIVE revenue of 7.07 per cent ($134 million) in Q2-2015. QoQ, Suddenlink reported the highest growth among the five players in percentage terms at 3.49 per cent ($31 million) in the current quarter.

    As far as absolute US dollars are concerned, Comcast’s Cable Communications segment reported the highest YoY and QoQ growth at $455 million (5.07 per cent) and $154 million (1.66 per cent) respectively in Q2-2015.

    Among the three products, Video was the biggest contributor to revenue of all the five companies in this report. Video’s contribution to VIVE revenue was in the range of 50 to 60 per cent. Internet contributed between 25 and 35 per cent and Voice between 6 to 17 per cent to VIVE revenue.

    YoY, combined Total Video and combined Total Internet revenue increased by 2.04 per cent and 13.22 per cent respectively, while Voice revenue declined by 1.89 per cent. QoQ, Video, Internet and Voice revenue in Q2-2015 increased by 1.08 per cent, 2.41 per cent and 0.15 per cent respectively.

    Video

    Despite a drop in Video Customer Relationships, combined Total Video revenue YoY increased by $204 million and increased QoQ by $109 million to $10198 million in Q2-2015. The highest increase in Video revenue among the five players was by Comcast at 3.66 per cent and $192 million in Q2-2015, while Suddenlink saw its Video Revenue drop by 0.68 per cent and $2 million in Q2-2015.

    Internet

    Combined Internet revenue of the five players in this report increased by 13.22 per cent and $720 million YoY and increased QoQ by 2.41 per cent and $145 million to $$6171.4 million in Q2-2015.

    The highest YoY as well as QoQ growth in percentage terms of Internet revenue among the five players was by Suddenlnk with 17.07 per cent ($31 million) and 4.40 per cent ($9 million) respectively in the current quarter. In absolute US dollar terms, Comcast Cableshowed the highest YoY and QoQ growth at $282 million (10 per cent) and $57 million (1.87 per cent) respectively.

    Voice

    Though Voice subscription numbers have been growing, the combined Voice revenue of the 5 players declined YoY by 1.89 per cent ($35 million) to $1800 million. The combined voice revenue of the players increased marginally QoQ by 0.15 per cent ($3 million) in the current quarter. 

    The big three players – Comcast Cable Communications, TWC and Charter saw their YoY Voice revenue decline by 2.06 per cent ($19 million), 2.45 per cent ($12 million) and 6.9 per cent ($10 million) respectively. Cablevision and Suddenlink saw their YoY Voice revenue increase by 2.2 per cent ($5 million) and 2.53 per cent ($1 million) respectively.

    Comcast Cable Communications and Suddenlink saw their QoQ Voice revenues drop 0.33 per cent ($3 million) and 0.48 per cent ($0.25 million) in the current quarter, while TWC and Charter saw their YoY Voice revenues increase by 1.06 per cent ($5 million) and 0.75 per cent (one million) respectively . Cablevision’s Voice revenue remained flat in Q1-2015 and Q2-2015 at $232 million.

    Comcast Cable, TWC and Charter have indicated business services revenue in their quarterly filings. Please refer to Fig B below. As is obvious, business services revenue (BSR) has been going up in value as well as in terms of percentage of Overall or Total Revenue (OR)

  • DEN doubles borrowing cap to Rs 20 bn; Q3 consolidated up 10% QoQ

    DEN doubles borrowing cap to Rs 20 bn; Q3 consolidated up 10% QoQ

    MUMBAI: With digitisation firm on the government‘s agenda, DEN Networks Ltd, a leading multi-system operator (MSO), has got the board approval to double its borrowing power from existing Rs 10 billion to Rs 20 billion.

    The company also said on Tuesday that its consolidated net profit for the third quarter ended 31 December rose 10 per cent to Rs 171.7 million from Rs 155.9 million in the previous quarter, in line with revenue growth.

    Incidentally, this quarter saw the rollout of the first phase of digitisation in the four metros. The government stuck to the deadline of 1 November, though digitisation got disrupted in Chennai due to a Madras High Court order.

    DEN’s consolidated Ebidta for the three-month period beginning 1 September jumped 22 per cent to Rs 603.9 million from Rs 308.4 million in the trailing quarter.

    The company’s consolidated net revenue grew 12 per cent to Rs 2.41 billion from Rs 2.16 billion in the previous quarter. Its expenditure during the quarter increased to Rs 1.81 billion from Rs 1.66 billion due to rise in operation expenses.

    DEN’s net profit from cable business was up 19 per cent to Rs 159.5 million from Rs 133.9 million in the previous quarter. Its operating profit rose 26 per cent to Rs 585.3 million from Rs 463 million.

    Its revenues from the cable business grew 13 per cent to Rs 2.29 billion from Rs 2.02 billion in the previous quarter.

    DEN’s net profit from distribution business was Rs 12.4 million on income of Rs 123.3 million and expenditure of Rs 104.7 million.

    On the first phase of digitisation, the MSO said it along with its affiliates seeded over 1.8 million set-top boxes (STBs) in Delhi, Mumbai and Kolkata. About half of these STBs were deployed in the third quarter.

    DEN has presence in 23 of the 38 cities where digitisation will happen in phase 2, including all the seven cities of Uttar Pradeh, five towns in Maharashtra, 3 in Gujarat, two each in Rajasthan and Karnataka, and 1 each in Bihar, Jharkhand, West Bengal and Haryana. Den said it has already seeded over 600,000 STBs in these markets.

    The company said it was also gearing to build a high speed broadband internet service and offer bundled double play and triple play services to consumers in fully digitised markets over the next few quarters.

  • Network 18 Q3 net profit Rs 270 million

    Network 18 Q3 net profit Rs 270 million

    MUMBAI: Network 18 Media & Investments has declared its third quarter results. Its consolidated net sales were up Up 60 per cent (QoQ) at Rs 1.854 billion.

    Network18’s consolidated net profit was at Rs 270 million (vs Losses of Rs 122.1 million in Q2) and it declared maiden (interim) dividend of 25 per cent.

    Network18 MD Raghav Bahl said: “We are extremely happy to share this quarter’s financial performance of the group. Our Channels are maintaining their leadership positions. We are witnessing a strong revenue growth in Web18 properties. Some new businesses are ahead of their business plans and others are doing as per expectations. The group has made a big entry in the print space with the acquisition of Infomedia. We wish to share the fruits of our strong entry into the phase of “profitable growth” with our shareholders by declaring an interim dividend of 25 per cent.”