Network18 Q3 Results: Co reports net loss at Rs 1,435 crore post demerger with Viacom18

Synopsis

Network18 Media & Investments reports a widened consolidated nonaccomplishment of Rs 1,435 crore for Q3FY25. It is connected relationship of an exceptional nonaccomplishment of Rs 1,426 crore due to the fact that of company's demerger with Viacom18, which became effectual connected December 30, 2024. Revenue from operations was astatine Rs 1,361 crore. Viacom18's concern has merged with Star India, forming a large broadcasting JV with Reliance Industries which has invested Rs 11,500 crores.

Network18 Media & Investments reported its December 2024 4th consolidated losses astatine Rs 1,435 crore (attributable to shareholders) versus Rs 59 crore successful the twelvemonth agone period. However, the nonaccomplishment was connected relationship of company's demerger with Viacom18.

The gross from operations successful Q3FY25 stood astatine Rs 1,361 crore versus Rs 1,774 crore reported by the institution successful the corresponding 4th of the erstwhile fiscal year.

Network18 Media successful its speech filing attributed the nonaccomplishment to "exceptional items" which represented a nonaccomplishment of Rs 1,426 crore, relating to the derecognition of subsidiaries. The nonaccomplishment has been presently accounted connected a provisional ground during the quarter.

It besides said that the gross figures are besides not comparable for the corresponding erstwhile periods.

In Q2FY25, the nett losses stood astatine Rs 96 crore portion the gross from operations was astatine Rs 1,825 crore.

The QoQ and YoY losses are attributable to the owners of the company.

Not accounting for the exceptional item, Network18 reported a nett net of Rs 26 crore versus the nonaccomplishment of Rs 148 crore successful Q2FY25 and Rs 102 crore successful Q3FY24.

Commenting connected the results, Network18's Chairman Adil Zainulbhai said that the restructuring of the concern is present complete, simplifying the firm operation for each its stakeholders.

"We are pleased with the advancement made connected the operating front, particularly the mode successful which our tv web is growing. Having established enactment positions successful nationalist markets, we are present focused connected prime determination markets for driving the adjacent signifier of growth. Our Digital concern is besides gaining momentum, and we are harnessing the combined spot of our platforms to present a superlative and seamless acquisition to our consumers,” Zainulbhai said.

Viacom18’s concern has merged with Star India. The strategy of statement for the merger of concern of Viacom18 with Star India Pvt. Ltd....