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    EARNINGS RELEASE: Q1 2016-17 Mumbai, July 13, 2016 – Network18 Media & Investments Limited today announced its results for the quarter ended 30th June, 2016. The consolidated Revenue (including proportionate share of Joint Ventures considered for segment reports) for the quarter ended 30th June 2016 stood at Rs. 820.2 crores vs. Rs. 791.7 crores in the corresponding quarter last year. This represents a growth of 10% after factoring in the change in status of Prism TV Private Limited (Regional entertainment channels). Prism was consolidated as a subsidiary during the quarter ended 30th June 2015 but became a Joint Venture effective 1st August 2015. During the quarter the Group made aggressive investments in new channel launches and re- launches of existing ones, on talent and various digital businesses. These initiatives reflect in lower profitability for the quarter. Segment Loss before Interest and Tax on a consolidated basis including the performance of Joint ventures stood at Rs. 76.6 crores. The Segment loss excluding the impact of these new initiatives is Rs.24.6 crores vis-à-vis Rs. 19.9 crores in the quarter ended 30th June 2015. The company has transited to Indian Accounting Standards (Ind-AS) with effect from 1st April 2016 with comparative results being restated. Under Ind AS, the joint ventures of the group including Viacom18, Indiacast, IBN Lokmat and Bigtree Investment (Bookmyshow) have now been accounted following “Equity method”, as proportionate consolidation method is not allowed as per Ind AS. The consolidated Revenue as per Ind AS (accounting the JVs under Equity method) for the quarter ended 30th June 2016 stood at Rs. 351.9 crores as compared to Rs. 411.1 crores in the corresponding quarter last year. On a like-for-like basis, after factoring in the change in status of Prism TV Private Limited from a subsidiary to Joint Venture, the growth in revenue is 11%. Operating loss on a consolidated basis under Ind AS was Rs. 73.8 crores as against Rs. 49.4 crores in the quarter ended 30th June 2015. Mr. Adil Zainulbhai, Chairman, stated “We are bullish about media – both linear and digital and are investing heavily in most of our businesses to position them for leadership. We are investing aggressively in upgrading existing properties and launching new news & entertainment properties to enable our businesses to be ahead of the curve. We are also investing in our digital businesses.The results of these investments are starting to bear fruit and will help in healthy revenue growth and profits in the near future.”   Q1 Highlights

    1. Investment in content -- new channels, new programming, local production, new formats

    and events -- saw a significant increase during the quarter, in line with the group’s vision to provide innovative content to its viewers. The group has also strengthened human capital by hiring experienced professionals in various areas, in line with its strategy to invest in growth in the digital media space, new-age content delivery and to maintain its leadership position across businesses.

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    During the q imited, a su

    ncluded in o with previous

    Particu

    me from ope ome from op er operating come from nses gramming co ribution, adv t of material ployee benef preciation an er expenses xpenses s)/profit from , finance co r income s)/profit from

    costs, exce ce costs

    s)/profit from costs but b

    ptional items s)/profit from

    expense (loss)/profi x (9-10) re of profit of ority interest (loss)/profi

    are of profit es (11+12-13 er Comprehe ciate and join

    al comprehe

    N olidated Fi

    als of Prism uarter ende

    ugust 2015 te. quarter end

    ubsidiary of other incom s year.

    ulars (In Rs

    erations perations

    income operations

    ost vertising and ls consumed fits expense d amortisati

    m operation osts and ex

    m ordinary eptional ite

    m ordinary before exce s- income/(e m ordinary

    t from ordin

    f associates

    t after tax, t of associa 3) ensive Incom nt ventures)

    ensive inco

    Network18 inancial Pe

    m TV Priva ed 30th Jun when Prism

    ded June 2 the Compa

    me. Accordi

    s. Crore)

    s (net)

    d business p d

    e ion expense

    ns before o xceptional it

    activities b ems (3+4)

    activities a eptional ite expenses) activities b

    nary activit

    s and joint ve

    minority int ates and join

    me (including (after tax)

    ome/(loss) (

    Media & In erformance

     

    te Limited ne 2015 an m ceased t

    2015, entir any was sold ngly, figure

    3

    promotion

    e

    other tems (1-2)

    before

    after ms (5-6)

    before tax

    ies

    entures

    terest nt

    g relating

    (14+15)

    Netwo

    nvestments e for the Qu

    (Prism) we d have bee

    to be a sub

    e stake in d and profit

    es of the cu

    30 Jun'16 3

    351.1 0.8

    351.9

    0.2 137.8

    0.7 117.6 15.0

    169.3 440.6 (88.7)

    24.7 (64.0)

    20.8 (84.8)

    - (84.8)

    0.8

    (85.6)

    5.4 (30.5) (49.7)

    0.7

    (49.0)

    Qu

         

    ork18 Q1 FY17

    s Limited uarter Ende

    ere consolid en consider bsidiary of t

    Stargaze t of Rs 43.3 urrent perio

    31 Mar'16 3

    475.4 0.2

    475.6

    2.2 126.6

    0.7 107.7 14.8

    159.0 411.0 64.6

    (3.9) 60.7

    18.0 42.7

    - 42.7

    4.6

    38.1

    0.4 56.5

    (18.0)

    (15.6)

    (33.6)

    arter ende

     

    Investor Update

    ed 30th Jun

    dated as a red as a Jo the Compan

    Entertainm crores on s

    od are not c

    30 Jun'15

    410.7 0.4

    411.1

    65.6 133.3

    0.8 113.7 14.0

    147.1 474.5 (63.4)

    77.8 14.4

    19.1 (4.7)

    - (4.7)

    5.3

    (10.0)

    30.6 (22.2) 42.8

    1.3

    44.1

    d

    e- July 13, 2016 Page | 9

    ne, 2016

    a subsidiary oint Venture ny from the

    ent Private such sale is comparable

    31 Mar'16

    1,653.6 1.2

    1,654.8

    89.8 503.9

    2.9 426.2 58.5

    604.6 1,685.9

    (31.1)

    113.3 82.2

    70.1 12.1

    - 12.1

    16.5

    (4.4)

    98.1 57.7 36.0

    (16.1)

    19.9

    Year

     

    6 9

    y e e

    e s e

  •  

     

    Report

    The un operatin entities method accoun Segmen as segm for the q

    Segme (a) Me (b) Fil (c) Ot Total (d) Ot Less: In Net inc Less: R

    Net inc

    Segme (a) Me (b) Fil (c) Ot Segme Less: (d) Fina (e) Oth (f) Oth Total lo

    Less: P Profit Ventur

    Tax exp Net los Share o Minority Net (lo share o Capita (Segme (a) Me (b) Fil (c) Oth Total (d) Un Total c

    ed Consol

    audited con ng results b

    which wer d under the ting under nts’ as defin ment reven quarter end

    Partic

    ent revenue edia operatio m productio thers

    ther unalloca nter segmen come from o Revenue rela

    come from o

    ent results edia operatio m productio thers ent (loss)/pr

    ance costs her unallocab her unallocab oss/(profit)

    Profit before before

    res/Associa

    pense ss/(profit) a of profit of as y interest oss)/profit a of profit of l Employed ent assets – edia operatio m productio hers

    nallocable as capital empl

    N idated Seg

    nsolidated S by the chie re hitherto e Indian GA

    the Ind AS ned under I ue and Inc

    ded 30th Jun

    culars (In R

    e ons n and distrib

    able revenue nt revenue operations ated to Joint

    operations

    ons n and distrib

    rofit before

    ble expenditu ble income before tax

    tax of Joint v tax

    ates)

    after tax ssociates an

    after tax, min associates

    – Segment lia ons n and distrib

    ssets less lia loyed

    Network18 gment Infor

    Segment in ef operating consolidate

    AAP but h S. The com Ind AS 108

    come from O ne, 2016 re

    Rs. Crore)

    bution

    e

    ventures/ As

    as reported

    bution

    Tax and fin

    ure

    ventures/Ass (excluding

    nd joint ventu

    nority intere and joint v

    abilities)

    bution

    abilities

    Media & In rmation for

    nformation h g decision ed and/or a ave now b mpany con . According Operations

    elates to inco

    ssociates

    d

    nance cost

    sociates g Joint

    ures

    est and entures

    Netwo

    nvestments r the Quarte

    has been p maker (CO

    accounted u been accou nsiders thes gly, the diffe

    as per the ome from o

    30 Jun'16

    801.3 18.9 -

    820.2 - -

    820.2 468.3

    351.9

    (73.0) (3.3) (0.3)

    (76.6)

    28.0 5.6

    (28.4) (81.8)

    3.0

    (84.8)

    0.8 (85.6)

    5.4 (30.5) (49.7)

    3,299.8 250.2

    8.3 3,558.3 (335.6)

    3,222.7

    Qu

         

    ork18 Q1 FY17

    s Limited er Ended 3

    repared in ODM) includ under propo nted for un se entities erence betw Unaudited

    operations o

    31 Mar'16

    893.6 23.4 -

    917.0 -

    15.8 901.2 425.6

    475.6

    69.7 (0.7) (0.5) 68.5

    25.0 7.3

    (4.2) 40.4

    (2.3)

    42.7

    4.6 38.1 0.4

    56.5 (18.0)

    3,125.8 240.1

    8.1 3,374.0

    (68.9) 3,305.1

    uarter ende

     

    Investor Update

    30th June, 2

    line with th ding the res ortionate co nder equity as part of

    ween amoun Consolida

    of these ent

    30 Jun'15

    761.4 52.6 -

    814.0 -

    22.2 791.8 380.7

    411.1

    (21.0) 1.3

    (0.3) (20.0)

    24.9 4.1

    (84.3) 35.4

    40.1

    (4.7)

    5.3 (10.0) 30.6

    (22.2) 42.8

    2,928.3 209.8

    7.4 3,145.5

    85.6 3,231.1

    ed

    e- July 13, 2016 Page | 10

    2016

    he review of sults of the onsolidation

    method of ‘Operating

    nts reported ted Results ities.

    31 Mar'16

    3,304.2 129.2

    - 3,433.4

    - 38.0

    3,395.4 1,740.6

    1,654.8

    110.1 1.3

    (1.5) 109.9

    96.4 22.8

    (144.1) 134.8

    122.7

    12.1

    16.5 (4.4) 98.1 57.7 36.0

    3,125.8 240.1

    8.1 3,374.0

    (68.9) 3,305.1

    Year

     

    6 0

    f e n f g d s

    )

    )

    )

    )

  •  

     

    Repo

    The fina quarter 2015 w

    1. In (a To

    2. Ex (a (b (c (d (e To

    3. Pr in ite

    4. O 5. Pr

    fin (3

    6. Fi 7. Pr

    be 8. Ta 9. Ne 10. Sh 11. M 12. Ne

    in as

    13. O re

    14. To

    orted Cons

    ancials of P ended 30th hen Prism c

    ncome from a) Income fro otal income xpenses

    a) Programm b) Employee c) Marketing, d) Depreciati e) Other expe otal Expens rofit from o

    ncome, finan ems (1-2) ther Income rofit from o nance costs 3+4) nance Costs rofit / (Loss efore tax (5 ax expense et Profit / (L hare of profit inority intere et Profit / (L

    nterest and ssociate (9+ ther Compre

    elating to join otal Compre

    Particula

    solidated F

    Prism TV Pr h June 2015 ceased to b

    Operations om operation e from Oper

    ming cost benefits exp distribution on and amo enses ses perations b nce costs a

    e rdinary acti s and excep

    s s) from ordi 5+6) (charge / (cr Loss) for th t of associat

    est (recovery Loss) after share of pr

    +10-11) ehensive Inc

    nt ventures) ehensive In

    ars (In Rs. C

    TV18 inancial Pe

    ivate Limite 5 and have be a subsidi

    s ns rations (net

    pense and promot

    ortisation exp

    before othe and excepti

    ivities befo ptional item

    nary activit

    redit)) he period (7 te y) taxes, mino

    rofit of

    come (includ

    ncome (12+

    Crores)

    8 Broadcas erformance

    ed (Prism) w been consi

    iary of the C

    30 J

    t)

    tional pense

    er onal

    ore ms

    ties

    7-8)

    ority

    ding

    +13)

    Netwo

    t Limited e for the Qu

    were consol idered as a

    Company fro

    Jun'16 31

    210.7 210.7

    - 77.0 53.2 9.5

    99.5 239.2 (28.5)

    9.6 (18.9)

    4.6 (23.5)

    (0.9) (22.6)

    5.6 (2.9)

    (14.1)

    (0.5)

    (14.6)

    Quarte

         

    ork18 Q1 FY17

    uarter End

    idated as a Joint Ventu

    om the afor

    Mar'16 30

    303.7 303.7

    - 71.6 38.3 9.1

    106.1 225.1 78.6

    16.3 94.9

    4.5 90.4

    0.5 89.9 2.8

    (0.6) 93.4

    (0.3)

    93.1

    er ended

     

    Investor Update

    ed 30th Jun

    subsidiary ure w.e.f. 1s resaid date.

    0 Jun'15 3

    273.1 273.1

    65.0 76.4 63.1 8.5

    90.7 303.8 (30.7)

    10.7 (20.0)

    7.9 (27.9)

    0.1 (28.0) 26.1

    (10.5) 8.6

    (0.1)

    8.5

    Ye

    e- July 13, 2016 Page | 11

    ne, 2016

    during the st August

    31 Mar'16

    1,052.1 1,052.1

    86.9 287.6 190.4 35.6

    381.6 982.1 70.0

    50.1 120.1

    22.4 97.7

    3.3 94.4 98.0

    (12.3) 204.7

    (0.3)

    204.4

    ear ended

     

    6 1

  •  

     

    Rep

    The the wer but Com 108 per

    Particu

    1. Segm (a) M (b) F Total Less: I Net Inc

    Less: R

    Net inc

    2. Segm Segme (a) M (b) F Total Less: I Segme cost Less: (i)

    (ii) 3. Segm

    Less: P

    4. Prof

    4. Tax e 5. Segm 6. Shar 7. Mino 8. Net interes 9. Capi (a) M (b) F (c) U Total Less: I Total C

    ported Con

    e Segment chief opera

    re hitherto c have now b

    mpany cons 8. According

    the Una

    ulars (In Rs.

    ment Reven Media operati Film Producti

    Inter Segme come From

    Revenue rela

    come from o

    ment Resul ent Results Media operati Film Producti

    Inter Segme ent (Loss) /

    Finance cos Un-allocable

    ment (Loss)

    Profit Before

    fit Before Ta

    expense (ch ment Net (L re of profit of rity interest ( Profit / (Los st and share ital Employe

    Media operati Film Producti Unallocated

    Inter Segme Capital Emp

    nsolidated

    information ating decisio consolidated been accou siders these gly, the diffe audited Co

    . Crores)

    nue ons on and Distr

    nt Revenue Operations

    ated to joint v

    operations a

    ts

    ons on and Distr

    nt Profits Profit befo

    st e Income ) / Profit Be

    Tax of Joint

    ax (excludin

    arge / (credi Loss) / Profi f associate (recovery) ss) after tax e of profit o ed

    ons on and Distr

    nt eliminatio ployed

    TV18 Segment I

    has been on maker (C d using prop unted for un e entities as erence betw onsolidated

    ribution

    s

    ventures

    as reported

    ribution

    ore tax and

    efore Tax

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    ng Joint Ven

    it)) it (3-4)

    xes, minority of associate

    ribution

    n

    8 Broadcas nformation

    prepared in CODM) inc portionate c

    nder equity s part of ‘Op ween amou

    Results

    3

    d

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    ntures)

    y (5+6-7)

    Netwo

    t Limited n for the Qu

    n line with t luding the r

    consolidatio method of a perating Se nts reporte relate to

    0 Jun'16 3

    587.8 18.9

    606.7 -

    606.7

    396.0

    210.7

    (16.5) (3.3)

    (19.8) 0.7

    (19.1)

    (11.4) 11.5

    (19.0)

    4.5

    (23.5)

    (0.9) (22.6)

    5.6 (2.9)

    (14.1)

    2,772.6 250.2 414.9

    3,437.7 (29.6)

    3,408.1

    Qua

         

    ork18 Q1 FY17

    uarter Ende

    the review o results of th on method u accounting egments’ as d as segme operations

    31 Mar'16

    663.7 23.4

    687.1 15.8

    671.3

    367.6

    303.7

    86.2 (0.7) 85.5 (1.1)

    84.4

    (10.9) 21.8

    95.3

    4.9

    90.4

    0.5 89.9

    2.8 (0.6) 93.4

    2,752.5 240.1 457.4

    3,450.0 (30.8)

    3,419.2

    arter ended

     

    Investor Update

    ed 30th Jun

    of operating he joint ven under the In under the I

    s defined un ent informa s of joint

    30 Jun'15

    566.3 52.6

    618.9 22.2

    596.7

    323.6

    273.1

    7.9 1.3 9.2

    (8.5) 0.7

    (13.4) 14.2

    1.5

    29.4

    (27.9)

    0.1 (28.0)

    26.1 (10.5)

    8.6

    2,779.2 209.8 342.5

    3,331.5 (124.9)

    3,206.6

    d

    e- July 13, 2016 Page | 12

    ne, 2016

    g results by tures which

    ndian GAAP nd AS. The

    nder Ind AS ation and as t ventures

    31 Mar'16

    2,477.7 129.2

    2,606.9 38.0

    2,568.9

    1,516.8

    1,052.1

    204.9 1.3

    206.2 (5.9)

    200.3

    (46.9) 69.3

    222.7

    125.0

    97.7

    3.3 94.4

    98.0 (12.3) 204.7

    2,752.5 240.1 457.4

    3,450.0 (30.8)

    3,419.2

    Year

     

    6 2

    y h P e S s .

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    )

    )

    )

  •  

     

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    Netw prac info und com upd com perf For Yug Netw E-m Furt

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    e- July 13, 2016 Page | 13

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    Investor Updatee- July 13, 2016 Page | 14

     

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