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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--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 groups 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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    t after tax, t of associa3)ensive Incomnt ventures)

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    m TV Privaed 30th Junwhen Prism

    ded June 2the Compa

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    s (net)

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    activities aeptional iteexpenses)activities b

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    minority intates and join

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    ome/(loss) (

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    te Limited ne 2015 anm ceased t

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    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 consoliden considerbsidiary of t

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    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

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    0.4 56.5

    (18.0)

    (15.6)

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    arter ende

    Investor Update

    ed 30th Jun

    dated as ared as a Jothe Compan

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    od are not c

    30 Jun'15

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    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, 2016Page | 9

    ne, 2016

    a subsidiaryoint Ventureny from the

    ent Privatesuch sale iscomparable

    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)

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    The unoperatinentities methodaccounSegmenas segmfor the q

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    as per theome 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) includunder proponted for unse entities erence betw Unaudited

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    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 thding the resortionate conder 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, 2016Page | 10

    2016

    he review ofsults of theonsolidation

    method ofOperating

    nts reportedted Resultsities.

    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

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    16.5 (4.4) 98.1 57.7 36.0

    3,125.8 240.1

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  • Repo

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    Jun'16 31

    210.7 210.7

    - 77.0 53.2 9.5

    99.5 239.2 (28.5)

    9.6 (18.9)

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    (0.9) (22.6)

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    (14.1)

    (0.5)

    (14.6)

    Quarte

    ork18 Q1 FY17

    uarter End

    idated as aJoint Ventu

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    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)

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    er ended

    Investor Update

    ed 30th Jun

    subsidiary ure w.e.f. 1sresaid date.

    0 Jun'15 3

    273.1 273.1

    65.0 76.4 63.1 8.5

    90.7 303.8 (30.7)

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    7.9 (27.9)

    0.1 (28.0) 26.1

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    e- July 13, 2016Page | 11

    ne, 2016

    during the st August

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    0 Jun'16 3

    587.8 18.9

    606.7 -

    606.7

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    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)

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    2,772.6 250.2 414.9

    3,437.7 (29.6)

    3,408.1

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    ork18 Q1 FY17

    uarter Ende

    the review oresults of thon method uaccounting egments asd as segmeoperations

    31 Mar'16

    663.7 23.4

    687.1 15.8

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    95.3

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    0.5 89.9

    2.8 (0.6) 93.4

    2,752.5 240.1 457.4

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    26.1 (10.5)

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    2,779.2 209.8 342.5

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    e- July 13, 2016Page | 12

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    3.3 94.4

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