Network18 Media & Investments Ltd reported consolidated revenue of Rs 1,360.50 crore and a profit of Rs 25.68 crore for the December quarter. The figures are not directly comparable to the same period last year due to the merger of its subsidiary Viacom18 with Star India.
The quarter included an exceptional item of Rs 1,425.73 crore, arising from the derecognition of subsidiaries, accounted for on a provisional basis.
Standalone revenue from operations stood at Rs 476.41 crore, with profits at Rs 3,431.94 crore, supported by exceptional gains of Rs 3,498.21 crore. These gains were attributed to the merger of Viacom18 Media, Digital18 Media, and Star India and the conversion of 24.61 crore compulsorily convertible preference shares held by Reliance Industries in Viacom18, which resulted in Viacom18 ceasing to be a subsidiary.
The company stated that operating revenue for the quarter remained stable compared to the previous year, with a challenging advertising environment continuing to influence growth. Consumer demand during the festive season was subdued, leading to restrained advertising spends by brands.
Television advertising volumes increased marginally quarter-on-quarter but declined 11% year-on-year. The digital segment recorded growth in advertising revenue, benefiting from its relatively smaller base.
The merger of Viacom18 and Star India, completed on November 14, created a large broadcasting and digital streaming entity. Following the merger, Network18 holds a 6.3% effective economic interest in the joint venture through its stake in Viacom18.
The company noted that the restructuring aimed to streamline the corporate structure and align operational priorities. It emphasised its focus on regional market expansion and strengthening its digital platforms.
Network18 operates 20 news channels across 16 languages, including CNBC TV18 and CNN-News18, along with digital properties such as Moneycontrol and Firstpost. The company has outlined plans to leverage its media portfolio to drive revenue and market presence in key areas.