TV18 Broadcast has reported a substantial 22 percent year-on-year (YoY) surge in consolidated revenue from operations, reaching Rs 1,794 crore in the July-September quarter of 2023 (Q2FY24). This impressive growth can be attributed to the exceptional performances of the company’s news business, movie studio, and sports verticals. In comparison, the company had recorded consolidated revenue of Rs 1,473 crore in Q2FY23.
Despite the remarkable revenue growth, TV18 Broadcast experienced an expansion of its consolidated earnings before interest, tax, depreciation, and amortization (Ebitda) loss. In Q2FY24, the Ebitda loss widened to Rs 198 crore, a notable increase from the Rs 40.6 crore loss in the corresponding period of the previous year.
The company clarified that the increase in Ebitda loss was a strategic decision necessitated by investments in growth-oriented verticals, particularly sports and digital. Both of these verticals required substantial investments in the short term to establish a robust consumer proposition. These investments are integral to solidify TV18 Broadcast’s position as a leader in the competitive media landscape.
At 2:00 PM the shares fell down by 5.50% at ₹40.40
