Network18 Media & Investments Limited announced its results for the quarter ended 31st Dec 2021.
Network18 reported its highest ever EBITDA at Rs. 373cr with margins of 22.5%. Apart from the News business (TV and Digital) which witnessed a sharp improvement in profitability, the Entertainment business also continued to deliver strong margins. Despite the pandemic induced headwinds faced by the Movie business, strong revenue growth momentum continued during the quarter as the company reported its highest ever quarterly revenue of Rs. 1,657cr (+16.5% YoY).
The TV News business recorded a sharp improvement in margin to 27.2% and the revenue was up 13% YoY. The Entertainment business margin stood at 21.4% and the revenue was up 16% YoY. The Digital News revenue clocked 41% YoY growth and margins were at 21.2%.
Colors was the No 2 channel in the Hindi genre and Voot continued to see growth in paid subscriber base driven by impact properties. Network18’s digital news/information portfolio was No 2 in India, reaching 50%+ of internet audience.
