Join WhatsApp Group for Free Stock Market Learning & Earning!
Network18 Media & Investments is expected to be in the spotlight on Monday after reporting a larger consolidated loss of ₹221 crore for the September quarter, compared to ₹83 crore in the same period last year.
In its Q2FY25 earnings released on Saturday, the Reliance Industries-backed company noted that its losses increased both year-on-year and quarter-on-quarter, rising from a net loss of ₹125 crore in Q1FY25. This loss is attributed to the company’s owners.
The company’s revenue from operations fell to ₹1,825 crore, down 2.2% from ₹1,866 crore in the previous year.
This is Network18’s first quarterly report following the merger with TV18 Broadcast Ltd. and e-Eighteen.com, which took effect on October 3, 2024. The merger aims to create India’s largest news media platform across various languages.
As part of the merger, TV18 shareholders will receive 100 shares of Network18 for every 172 shares they hold, while E18 shareholders will receive 19 shares of Network18 for every share of E18.
Despite the overall revenue drop, the news segment saw a 6% increase, mainly driven by digital advertising revenue. However, TV advertising was weaker this quarter, with news advertising volumes down about 20% year-on-year. The share of news in overall advertising consumption also decreased by over 200 basis points. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the news division showed improvement, reflecting a strong turnaround in the first half of the fiscal year.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
Join WhatsApp Group for Daily Webinars & Live Sessions!
