Mumbai: The Times group owned by Bennett Coleman and Company Ltd (BCCL) has posted a consolidated net loss of Rs 451.63 crore for the fiscal ended March 31, 2020, compared to a net profit of Rs 484.27 crore of the previous fiscal.
As per data from business intelligence platform Tofler, BCCL’s revenue from the sale of publications declined to Rs 629.96 crore from Rs 656.09 cror while the Television distribution revenue marginally increased to Rs 40.17 crore from Rs 36.29 crore.
Times of India is the largest circulated newspaper in India. The groups own some popular TV channels like Movies now, MNX, Romedy now, Times now, Mirrors now ET now. The company’s print business comprises of Times of India and Economic Times in English, Navbharat Times in Hindi, Maharashtra Times in Marathi, Vijay Karnataka in Kannada, and EiSamay in Bengali. The group also publishes magazines like Filmfare and Femina.
The report which Tofler share talked about, the company’s advertisement revenue has shrunk to Rs 5,367.88 crore from Rs 6,155.32 crore. Revenue from the sale of publications declined to Rs 629.96 crore from Rs 656.09 crore. Television distribution revenue marginally increased to Rs 40.17 crore from Rs 36.29 crore. Revenue from web portal and support services stands at Rs 284.95 crore as against Rs 226.42 crore.
Whereas, the sale of traded products has jumped to Rs 1,787.10 crore from Rs 1,379.94 crore. Other operating revenues came in at Rs 1,144.47 crore compared to Rs 1,157.36 crore.
The total expenses have jumped to Rs 9,911.05 crore from Rs 9,552.13 crore. Employee benefits expense stood at Rs 2,767.55 crore compared to Rs 2,562.93 crore. While the cost of materials consumed dipped to Rs 1,277.02 crore from Rs 1,694.66 crore, other expenses climbed to Rs 4,493.91 crore from Rs 4,053.59 crore.
In terms of segments, the company’s revenue from the print segment plunged to Rs 5,627.12 crore from Rs 6,259.89 crore. Revenue from the television segment jumped to Rs 826.32 crore from Rs 711.90. Internet segment reported revenue of Rs 1,200.34 crore compared to Rs 1,180.41 crore. Revenue from ‘others’ segment increased to Rs 1,600.75 crore from Rs 1,459.22 crore.
The company’s profit before tax from the print business fell to Rs 1,005 crore from Rs 1,136.34 crore. The television business posted a profit before tax of Rs 16.41 crore against a loss before tax of Rs 33.63 crore.
The loss before tax from the internet business swelled to Rs 837.72 crore from Rs 550.66 crore. The ‘others’ segment reported loss before tax of Rs 344.60 crore as against a profit before tax of Rs 214.28 crore.