Network18 Media & Investments (NETWORK18) Q4 23/24 earnings summary

Executive summary

• Completed merger of TV18 Broadcast and e-Eighteen.com with Network18, consolidating TV and digital news assets under one entity, effective October 3, 2024.

• Viacom18, a subsidiary, entered a JV with Reliance and Disney, combining Viacom18 and Star India media assets, with RIL investing ₹11,500 crore.

• The group reinforced its position as India's largest omni-channel news and entertainment network, with strong digital and TV presence across genres and languages.

Financial highlights

• Consolidated operating revenue grew 49.4% YoY to ₹9,297.5 crore, driven primarily by sports and movies verticals.

• Operating EBITDA declined to -₹664.2 crore from ₹137.3 crore due to high costs in sports rights and digital investments.

• PAT after minority interest was -₹206.3 crore, compared to -₹84.3 crore last year.

• Standalone revenue rose to ₹1,817.7 crore (from ₹187.2 crore), with profit before tax at -₹250.5 crore.

• Debt (consolidated) increased to ₹7,317 crore from ₹5,815 crore, mainly due to Viacom18 borrowings.

Outlook and guidance

• The M&E sector is expected to benefit from India's economic growth and rising digital penetration, with digital advertising leading future growth.

• The company will continue investing in digital and TV platforms to strengthen market position and prepare for future opportunities.