TV18 Broadcast Limited, one of India’s leading media conglomerates, has released its financials for the fourth quarter of the 2023-24 fiscal, painting a picture of robust revenue growth juxtaposed with operational challenges. The quarter ending March 2024 witnessed a significant surge in consolidated revenue, yet the company grappled with an unexpected operating EBITDA loss, primarily attributed to the stark contrast in the performance of its TV news and entertainment segments.
Consolidated revenue soared impressively by 66 per cent, reaching Rs 2,330 crore compared to Rs 1,406 crores in the same period last year. This growth can be attributed to various factors, including increased viewership, advertising revenue, and strategic business expansions. However, amidst the revenue boom, TV18 faced unexpected headwinds in its operational EBITDA, reporting a loss of Rs 161 crore, a substantial downturn from the Rs 77 crore EBITDA reported in the previous year.
The performance of TV18’s segments varied significantly, with the TV news division demonstrating resilience by recording a 2 per cent increase in EBITDA, reaching Rs 66 crore compared to Rs 65 crore in the previous year.
The entertainment business of TV18 faced a challenging quarter, marked by an EBITDA loss of Rs 228 crore, a decline from the Rs 12 crore EBITDA reported in the same period last year. However, TV18 said JioCinema was the fastest growing OTT platform in the country during the fiscal.
TV18 Broadcast Limited has attributed the Q4 EBITDA impact to operating losses from its sports and digital segments.
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