Q4FY24 Quarterly & FY24 Annual Result Announced for TV18 Broadcast Ltd.
Broadcasting & Cable TV company TV18 Broadcast announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Consolidated revenue for Q4FY24 increased by 66% YoY to Rs 2,330 crore. Consolidated EBITDA stood at Rs (228) crore Subscription revenue witnessed a marginal increase of 1% to Rs 544 crore in Q4FY24. Consolidated Film production/distribution revenues soared to Rs 312 crore in Q4FY24, a 4,820% increase. FY24 Financial Highlights: Consolidated Revenue for the year increased by 52% to Rs 8,976 crore. TV News (Standalone): Full-year EBITDA grew by 67% to Rs 118 crore. Entertainment (Consolidated): The full year observed an EBITDA of Rs (677) crore. Annual subscription revenue saw a rise of 9% to Rs 2,107 crore. Performance in News and Entertainment: TV News: Achieved a viewership share of 10.9% and remained the highest reach TV news network. Entertainment: Colors reach peaked to its highest in 12 years, while Viacom18 Studios' 'Fighter' crossed Rs 300 crore at the box office. Digital Platform Achievements: JioCinema witnessed a 51% increase in viewers on the first day of IPL 2024 over the previous season's opening day. Watch-time on JioCinema during the first week of IPL grew by 70%. Strategic Partnerships and Mergers: Viacom18, Reliance, and The Walt Disney Company announced the formation of a joint venture between Viacom18 and Star India. Investments: Reliance Industries Limited (RIL) will invest Rs 11,500 crore in the JV at closing for growth strategy. Commenting on the results, Adil Zainulbhai, Chairman of TV18, said, "The year gone by has been incredibly successful for us with strong organic growth and a flurry of M&A; activity. The announced merger of Viacom18 with Star India is a remarkable moment for India's M&E; sector and we believe that the combined entity shall have the power to change the media landscape of the country in a meaningful way, creating value for all the stakeholders - consumers, customers and shareholders. In parallel, we expect the merger of our TV and Digital news businesses also to be completed sometime this year, making us ready to embark on a truly transformative journey which will deliver growth in the long term." Result PDF18-04-2024
