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Tag: Web18

  • TV18: FY10 tots up losses, but Q4FY10 shows turnaround signs

    TV18: FY10 tots up losses, but Q4FY10 shows turnaround signs

    MUMBAI: Is the Raghav Bahl-promoted Television Eighteen India (TV18) on a recovery trail? If one goes by the results over Q3 and Q4 FY10, things seemed to be looking up at the company which runs the news channels -CNBC TV18 and CNBC Awaaz. Revenues have gone up, operational costs seem to be being kept under control and a positive bottomline has been reported.

    Revenues in Q4 were up to Rs 840.6 million (Rs 674 million in Q3 FY10) and operating profit too has gone up to Rs Rs 254.3 million (Rs 204.4 million). However, the company would have only made a marginal net profit had it not booked its entire ‘other income’ of Rs 217.4 million in Q4 FY10. For the record the company generated a net profit after deferred tax of Rs 238.7 million.

    On an annual basis, the company has seen a rise in its net loss on a standalone basis for the year ended 31 March 2010. The net loss was at Rs 597.3 million, as compared to Rs 528.9 million in the previous fiscal. Revenues too have almost stayed stagnant at Rs 2.73 billion in the whole of FY10 (Rs 2.80 billion in FY09). Observers are questioning if the company has hit a ceiling as far as revenue potential is concerned in the financial and business TV news channel segment.

    The firm’s operating profit for FY10 was Rs 648.1 million which is a turnaround from the loss of Rs 48.4 million it incurred last fiscal.

    The comapny’s other income also dropped by 68.81 per cent, from Rs 697 million (FY09) to Rs 217.4 million (FY10). The firm also lost out in terms of income earned from investments, which saw a fall of 45.29 per cent from Rs 392.6 million (FY09) to Rs 214.8 million (FY10). However, on a quarterly basis the income from investments went up to Rs 75.5 million in Q4FY10 from a loss of Rs 210.6 million in the corresponding quarter last fiscal.

    The company net loss increased further in FY10 even though they did better at the PAT level, due to a deferred tax outgo wherein the company had to spend Rs 50.4 million this fiscal as compared to a savings of Rs 159.5 million it made last fiscal.

    On a consolidated basis, TV18 reduced its net loss for the fiscal by 29.55 per cent to Rs 1.17 billion from Rs1.66 billion in FY09. The revenue for the firm went up from Rs 4.85 billion (FY09) to Rs 5.53 billion (FY10). This coupled with reduced operating expenses led the firm to post an operating profit of Rs 403.1 million this fiscal, a major improvement from the operating loss of Rs 813.1 million it posted last fiscal.

    The consolidated result also includes financials of Web18, Newswire18 and Infomedia18.

    A look at these segments individually:

    Web18: 
    Web18, which houses the web properties of the group including in.com, reduced its net loss by 51.99 per cent for the fiscal at Rs 266.9 million from last fiscal’s Rs 555.9 million. The revenues generated from operations increased by 11.28 per cent to Rs 728.2 million (FY10) from Rs 654.4 million (FY09). The operating loss of the firm also reduced by 74.1 per cent from Rs 357.5 million (FY09) to Rs 92.7 million (FY10).

    However, in Q4FY10 the firm registered a net profit of Rs 37.4 million, on account of its minority interest income of Rs 71.8 million and revenues were at Rs 229.1 million.

    Newswire18:
    Newswire18 also reduced its losses in FY10, bringing it to Rs 40.8 million from last fiscal’s Rs 129.8 million. The firm’s revenues went up by 42.5 per cent to Rs 329.6 million (FY10) from Rs 231.3 million (FY09). At an operational level the company showed a profit of Rs 18.4 million as compared to last fiscal’s loss of Rs 76.8 million. This turnaround was aided by Newswire 18’s increased revenues especially in Q4FY10 when it earned Rs 92.5 million

    Infomedia 18:
    Infomedia 18 too reduced its losses this fiscal bringing these down from Rs 448.9 million in FY09 to Rs 35 million in the year ended 31 March, 2010. The firm’s revenues went up to Rs 1.74 billion in FY10 from Rs 1.17 billion in FY09. This helped them reduce their operating losses by 48.27 per cent to Rs 170.8 million (FY10) from Rs 330.2 million (FY09).

  • TV18 eases financial pain in Q3, eyes turnaround

    TV18 eases financial pain in Q3, eyes turnaround

    MUMBAI: Television18 has eased its financial pain in the fiscal third-quarter due to some upswing in revenues while costs are kept under strict control.

    For the three months ended December, TV18 has posted a standalone net loss (after tax and minority interest, before ESOP charge out) of Rs 146.64 million, narrowing it from Rs 246.95 million in the previous quarter.

    The company, which operates leading business news channels CNBC TV18 and CNBC Awaaz, had posted a net profit of Rs 72.71 million in the earlier year.

    Revenue from news operations at Rs 674.02 million stands 9.69 per cent higher than the year-ago period. For the trailing quarter, TV18’s standalone revenue was at Rs 647.43 million.

    “The fourth quarter revenue should be higher than the trailing quarter due to the Budget. When the market fully recovers, TV18 should be in a position to grab the lion’s share of the growth as it has managed to protect its ratings share even after the launch of ET Now,” says a media analyst who tracks the news broadcasting business.

    Operating expenses for the quarter stood at Rs 469.59 million (from Rs 469.09 million a year ago). We have brought down the operating cost to Rs 450-460 million. “We do not expect that to increase. We are watching that number like a hawk,” TV18 managing director Raghav Bahl told analysts.

    TV18 also improved its operating margins to 30.33 per cent from prior year’s 23.66 per cent. The company said that the “high operating margins” are likely to be maintained.

    During the quarter, TV18 cut 12 per cent of its permanent staff and merged the broadcast operations of its two business news channels in a bid to take corrective measures at a time when the ad market was going through a slump. The company has taken a one time restructuring charge Of Rs 45 million on account of rationalisation of its workforce.

    On a consolidated basis, TV18, which also includes financials of Web18, Infomedia18 and Newswire18, has posted a net loss (after tax and minority interest, before ESOP charge out) of Rs 373.03 million. For the same quarter of the previous year, the net loss stood at Rs 306.03 million.

    Revenue from consolidated operations fell marginally to Rs 1.29 billion compared to Rs 1.30 billion a year ago. Expenses stood at Rs 1.16 billion, from Rs 1.39 billion in the earlier year.

    “We are happy to share that we continue to build on the turnaround in operations that started a couple of quarters back. Business news channels have returned to healthy operating margins along with drastically reducing net losses. Web18 revenues are showing strong traction as we endeavour to keep costs under control. EBITDA break-even should be achieved shortly. Newswire18 continues to strengthen revenues and operating margins. Informedia18 revenues should start growing in forthcoming quarters as new launches are being well received by customers,” says Bahl.

    Web18, the subsidiary that houses all the websites of the group, has curtailed its net loss to Rs 123.25 million, as against Rs 214.08 million a year ago. Revenue from operations grew 12.56 per cent to Rs 196.93 million, while expenses dropped 35.62 per cent to Rs 224.90 million in the quarter.

    In Infomedia18, the net loss for the quarter stood at Rs 92.32 million, down from Rs 103.75 million in the corresponding quarter of FY ’09. Revenue, however, decreased to Rs 334.35 million from Rs 450.86 million, while expenses were at Rs 384.37 million, down from Rs 493.71 million a year ago.

    In Newswire18, revenue rose to Rs 83.77 million, from Rs 64.63 million a year ago. Net loss has narrowed to Rs 9.82 million compared to Rs 31.91 million in the third quarter of FY’09.

    TV18 expects to return to black soon as the market recovers. The company plans to bring down its high interest payout by reducing the net debt from Rs 6 billion to Rs 2 billion in FY’11.

  • TV18 posts Q2 losses, signals early recovery

    TV18 posts Q2 losses, signals early recovery

    MUMBAI: Television18, the company which operates leading business news channels CNBC TV18 and CNBC Awaaz, has suffered losses for the second consecutive quarter.

    On a standalone basis, TV18 has posted a net loss (after tax and minority interest, before ESOP charge out) of Rs 246.95 million for the quarter ended 30 September, as compared to a net profit of Rs 103.49 million a year ago.

    Amid slowdown, revenue from news operations fell 20 per cent to Rs 647.50 million, as against Rs 808.23 in the same quarter of FY’09.

    However, on the sequential basis, the company’s revenue has increased 14 per cent as compared to Rs 568.57 million in Q1.

    Operating expenses went up by 12.07 per cent to Rs 547.11 million in the quarter under review on Y-o-Y basis.

    TV18 is expecting revenues to grow YoY from next quarter onwards, ending four quarters of de-growth.

    Meanwhile, the operating margin of the company decreased to 15.50 per cent in the quarter under review, compared to 39.60 per cent in the prior-year period.

    On a consolidated basis, TV18, which also includes financials of Web18, Infomedia18 and Newswire18, has posted a net loss of Rs 563.74 million. For the same quarter of the previous year, net loss stood at Rs 402.19 million.

    Total revenue from consolidated operations jumped 12.19 per cent to Rs 1.2 billion, as compared to Rs 1.07 billion a year ago. Expenses stood at Rs 1.25 billion, up 20.72 per cent.

    The company announced that all its business units have reported sequential growth in revenues and all are set to turn Ebitda positive on consolidated basis. Also successful completion of rights issue will “substantially de-leverage the balance sheet.”

    “A successful completion of our rights issue will give the necessary dose of equity to the balance sheet, deleveraging it from the current debt levels,” TV18 MD Raghav Bahl said in a statement.

    Web18, the subsidiary that houses all the websites of the group, has curtailed its net loss to Rs 100.33 million, as compared to Rs 238.04 million a year ago. Revenue from the operations grew marginally by 4.85 per cent to Rs 160.08 million, while expenses dropped 38.26 per cent to Rs 211.45 million in the quarter.

    In Infomedia18, however, the net loss has increased to Rs 37.90 million, from Rs 1.11 million in the corresponding quarter of FY ’09. Revenue has increased to Rs 353.72 million, from Rs 290.48 million, while expenses climbed to Rs 415.10 million, from Rs 299.62 million a year ago.

    In Newswire18, revenue has grown 54 per cent and the company has turned Ebitda positive. Though it has posted a net loss of Rs 13.28 million, as against Rs 39.93 million, revenue rose to Rs 78.88 million (from Rs 51.20 million), while expenses were at Rs 76.87 million.

    Bahl added, “We are happy to share that all our businesses have started showing revenue growth on a QoQ basis and we have reasons to believe that we shall soon be witnessing YoY growth as well. While the business news channels continue to have a positive Ebitda, Newswire18 has turned Ebitda positive as well. We are confident that the operating margins of other businesses, especially Web18 and Infomedia18, will start recovering from the next quarter.”

  • Senthil is elevated to TV18 Biz Media prez & group editorial director; Udayan is made CNBC-TV18 managing editor

    Senthil is elevated to TV18 Biz Media prez & group editorial director; Udayan is made CNBC-TV18 managing editor

    MUMBAI: TV18 has strengthened its editorial leadership team, with new roles being assigned to Senthil Chengalvarayan and Udayan Mukherjee.

    Chengalvarayan has been elevated to TV18 Business Media president and group editorial director. Earlier he was CNBC-TV18 managing editor.

    CNBC-TV18 executive editor Mukherjee has been promoted to managing editor.

    Network 18 Group CEO Haresh Chawla said, “Senthil will now take on additional responsibilities of building on our strengths and taking the business media franchise to a leadership position across all verticals. Udayan will continue to make sure we deliver cutting edge news and insights to our viewers.”

    TV18 operates channels CNBC-TV18 and CNBC Awaaz, and web networks Web18 that holds amongst others a portfolio of brands such as moneycontrol.com, commoditiescontrol.com, indiaearnings.com, poweryourtrade.com. It also runs news terminal provider Newswire18. Its print foray includes the acquisition of Infomedia.

  • TV18 Q4 net up 25%, plans English biz newspaper launch within a year

    TV18 Q4 net up 25%, plans English biz newspaper launch within a year

    MUMBAI:TV18 has posted a net profit of Rs 189.52 million for the quarter ended 31 March 2008, up 25.51 per cent as against Rs 150.99 million from the corresponding quarter of the last fiscal.

    During the period, total revenue has seen a growth to Rs 1.11 billion, from Rs 680.8 million.

    The company’s consolidated revenue has surged 64 per cent, on a year-on-year (YoY) basis, to stand at Rs 1.32 billion.

    TV18 MD Raghav Bahl said, “We are extremely happy to declare this quarter’s financial performance. Our news channels continue to lead the business news genre. The revenues from all properties are showing solid growth. Acquisition of Infomedia is underway and should soon be completed. We have forged a JV with Jagran Prakashan to launch a Hindi business newspaper and are also preparing to enter the English business newspaper market”.

    TV18 is planning to launch a Hindi and English business newspaper within 12 months. The English business daily is likely to have Financial Times (which is splitting relationship with Business Standard) as a partner.

    In the news operation segment, total revenue stood at Rs 1.09 billion for the quarter ended 31 March 2008, up 53 per cent year-on-year. Net profit of news operations stood at Rs 300.98 million (after ESOP charge out).

    During the period, Web18’s total revenue stood at Rs 180.18 million, up 112 per cent YoY. Web18 suffered a loss of Rs 146.55 million for the quarter as against a loss of Rs 32.27 million in the last fiscal.

    For Web18, which houses the internet properties, TV18 is planning to list overseas in the calendar year.

    As reported earlier by Indiantelevision.com, Web18 is planning to list in the US to raise funds for expansion. Web18 is looking at diluting 10-15 per cent through an ADR (American Depository Receipt) issue. 

    Total revenue of Newswire18 stood at Rs 44.59 million for the last quarter of FY08, up 26 per cent quarter on quarter basis. Newswire18’s loss was Rs 31.69 million during the period.

    For the full year, TV18 has posted a net profit of Rs 416.84 million, as against Rs 175.11 million a year ago. Total Revenue has climbed from Rs 2.01 billion for the year ended March 31 2007 to Rs 3.65.billion for the year ended 31 March 2008.

    Shares of TV18 rose 2.78 per cent to close Monday at Rs 344.35 on the BSE.

  • 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.”

  • TV18 Q2 consolidated revenue up 67 % at Rs 883 million

    MUMBAI: TV18’s consolidated revenue grew 67 per cent year-on-year to be at Rs 882.97 million for the quarter ended 30 September 2007.

    Revenue from news operations was at Rs 735.05 million, up from Rs 476.92 million a year ago. Profit (after tax and ESOPs) in this segment was at Rs 156.93 million, as against Rs 119.40 million.

    Though revenue from the internet and software operations more than doubled to Rs 123.23 million (from Rs 53.16 million), TV18 incurred a loss (after tax and minority interest) of Rs 77.38 million as against a profit of Rs 16.36 million in the corresponding quarter of the previous year.

    Newswire18’s revenue jumped to Rs 24.69 million, compared with Rs 8.93 million in the previous quarter. Loss (after tax and minority interest) has improved to Rs 29.86 million, from Rs 49.92 million.

    Said TV 18 MD Raghav Bahl: “Our channels are maintaining their leadership positions and revenues from Newswire18 are growing strongly. We are investing aggressively in Web18 as Internet remains a key focus area.”

  • TV18 Group is now Network18; unveils logo

    MUMBAI: TV18 Group is rechristened as Network18. The new branding will unify all current and future entities of the TV18 Group under a single umbrella.

    Existing companies such as TV18, GBN, Web18, Homeshop18, Viacom18, Studio18 and Events18 will reflect the new corporate identity.

    The Group will also don a new logo which is red and white in colour. “The logo reflects the company’s brand identity which is a window to an ever-changing world in addition to connoting the stature and ambitions of the emerging global media corporation,” the company said in a statement.

    Commenting on the new branding, Network18 managing director Raghav Bahl said, “We have come a long way since TV18 began in 1992 as a small production house. From television news to filmed entertainment, Network18 leaves little untouched and unconquered, thus taking it a step closer to becoming the undisputed media mega brand! Despite our rapid growth and diversification, the one thing that has not changed, is our vision to be ‘better than the best’ and to continuously set new standards in this fast growing industry.” 

    Added Network18 Group CEO Haresh Chawla, “Network18 has built some of the most enviable media brands and audience franchises in India and we continue to work aggressively towards building India’s finest truly multi-platform media conglomerate. The new Network18 identity unites our over 3000 strong team and operations with a common set of values and aligns them behind a common purpose. The unified identity will help us harness the power of our individual brands and build an even stronger relationship with all our stakeholders. It is an exhilarating moment for all of us.” 

    Network18 Group COO B Sai Kumar said, “Network18 embodies all the attributes of a start-up and combines it with the power to enable, enlighten and entertain every Indian. Over the past decade, the Group has been able to empower more than 80 million Indians. The re-energised entity will aim to reach out to a much larger audience in India and globally. In the process, we also hope to make Network18 the first truly Indian, global media company.”

  • Web18 getting into stock broking; partners with Ambit, Centurion Bank

    Web18 getting into stock broking; partners with Ambit, Centurion Bank

    MUMBAI: TV18’s internet ventures arm Web18 is moving into online stockbroking.

    Web18, Ambit and Centurion Bank of Punjab have announced a partnership to pursue the fast-growing brokerage business with a strong internet presence in India.

    In Ambit Capital, which will handle institutional and high-networth business, Ambit will hold 51 per cent while Web18 will have 29 per cent and Centurion Bank of Punjab 20 per cent, said Ambit promoter Ashok Wadhwa.

    Ambit Web18 is the company that will handle retail business. “Ambit Capital will hold 51 per cent in this company, Web18 39 per cent and Centurion Bank of Punjab 10 per cent,” Wadha said.

    Apart from stock broking, a range of financial services including distribution of third party products, portfolio management services etc. will be offered by the venture. With increasing internet penetration in the country, retail customers will be serviced online by the venture, asserts an official release.

    It will leverage upon the online presence of Web18’s several internet properties including moneycontrol.com, easymf.com, poweryourtrade.com and commoditiescontrol.com as well as the extensive branch reach of Centurion Bank of Punjab. The businesses will be managed by a professional board chaired by Rana Talwar.

    Ambit has extensive experience in providing financial services such as investment banking, stock broking and investment advisory services. Web18, a TV18 Group company, is a player in the Indian internet space with presence and partnerships including the online financial space ( moneycontrol.com), e-recruitment ( jobstreet.com), online travel (yatra.com) and allied ventures with over five million visitors per month.

    With over three million customers at its 249 branches, Centurion Bank of Punjab has strong presence across the country and has significant understanding of the retail segment in India.

    Ambit Corporate Finance partner and CEO Ashok Wadhwa said, “We are excited about partnering with a leading business media group and a leading bank in what we believe will create a truly world class Indian Brokerage House”

    Web18 managing director Raghav Bahl added, “Considering Web18’s strong positioning in the online information and transaction segment, a partnership in the e-broking space is a natural extension for us. With their expertise and strong reputation in the market place, our partner’s will enable the venture in capturing a substantial market share in this business.”

    Speaking on the occasion, Centurion Bank of Punjab managing director and CEO Shailendra Bhandari said “We are very pleased with this initiative, which will enable the bank to offer an increasing array of sophisticated financial products to our mass affluent and our high net-worth customers. By adding broking services, the bank will be able to complete its suite of wealth management services, which currently includes complete financial advisory services and distribution of products such as mutual funds and life insurance.”

    The joint venture is subject to obtaining all regulatory approvals. Amarchand Mangaldas are the legal advisors to the joint venture, adds the release.

  • Web18 to raise $ 10 million from Tracer Capital

    MUMBAI: In line with the global trend of concentrating on the nternet space, Web18 Caymans, a subsidiary of the TV18 Group, has raised funding of $ 10 million from Tracer Capital.
    The funding will be utilized to acquire a few portals besides building a strong leadership position in the internet space. This will help the group consolidate its focus on the internet business further.

    According to reliable sources close to the developments, Web18 has been valued at slightly over Rs 4 billion. Indiantelevision.com also learns that the company is also proposing to enter the capital market next year (2007).

    With this, the New York based investment fund company, focused on global investment opportunities in the technology, media, telecommunications and business services sectors, will hold a small percentage of stake in Web18 at a later stage.

    Web18 has completed two rounds of acquisitions up till now. The company earlier acquired a significant stake in Yatra.com and Jobstreet.com India. The second round included cricketnext.com, compareindia.com and urbaneye.com. TV18’s internet arm also manages moneycontrol.com, ibnlive.com; commoditiescontrol.com; tech2.com and easymf.com.

    The group had recently, appointed former Sify India Surya Mantha as the chief executive officer for Web18 Caymans.