EARNINGS RELEASE: Q1 2016-17 - NETWORK 18 Results/2016-17/Investors...EARNINGS RELEASE: Q1 2016-17 ... quarter, CN se of Rs. 3 lready #2 channels ... BARC, TG: 4 18 Motion English re Office. Viacom18 tion, was

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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.…

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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.     2. 3. 4. 5. 6. 7. Busine Net During the time expen channel is a Three news - were laun regional ne operating lo Rishtey Cin destination launched H aggregate consolidate FYI, a factu A&E Netwo 5.4 crore fo Homeshop states and to reduce c products. Bookmysho crores in successfull participatio and mainta ess Perfor twork18 - quarter, CN se of Rs. 3 already #2 s channels nched in the ews genre. osses for th neplex, a H in the Ove HD channe operating ed results is ual entertai ork), was co or this chann 18’s perfor an increas costs, notab ow achieve the corres y raised US n from all th ained its sha rmance Television NW18’s leaders [Source: CNBC T 42% ma 4 PM) C genre. [Source: CNBC genre w weekda genre [Source: NN-IBN was .5 crores to in Urban In -- News18 e month of These three he quarter. indi movie r The Top o els in Kan loss attrib s Rs. 29.2 c nment chan ommercially nel is includ rmance was e in distribu bly impleme ed a revenu sponding q SD $75 MN he existing areholding i n Operatio s TV chann s in most se BARC, All Ind TV18 maint arket share CNBC TV1 BARC, All Ind Awaaz con with 59% m ays). Overa BARC, HSM, s re-brande owards re-b dia. Kerala, New f April, furth e channels channel an or OTT spac nnada, Mar buted to th rores. nnel from th y launched ded in the A s impacted ution cost. T enting recov ue Rs. 78 quarter last N in a roun investors. N nterest as t ons nels are wat gments in n dia, All 4+, 1st tained #1 ra e in Q1 FY1 8 maintaine dia, NCCS AB ntinues to market shar all, CNBC A NCCS AB Ma Netwo ed and re-la randing wa ws18 Tamil her strength accounted nd VOOT, V ce, were lau rathi and B hese new he AETN18 on 4th July April-June q by the imp The compa very of ship crores in Q t year, a nd of fundin Network18 the largest s tched by ar news and e t April to 30th J ank in the E 7. During m ed a higher Males 22+, 1 be domina re during tr Awaaz main ales 22+, 1st A       ork18 Q1 FY17 aunched as s incurred d l Nadu and hening the g for Rs. 13. Viacom18’s unched in M Bangla dur initiatives 8 stable (a J y 2016. The uarter plementation any is taking pping charg Q1FY17 as growth of ng led by th invested a shareholder round 572 m ntertainmen June 2016] English Bus market hour r share of 4 st April to 30t ant in the rading Hou ntained 66% April to 30th J   Investor Update CNN-News during the q News 18 A group’s foot .9 crores of exclusive d May’16. Via ring the qu of Viacom JV between e operating n of entry ta g innovative ges and lau s compared f 30%. Bo he Stripes sum of Rs. r. million viewe nt. iness News rs (Weekda 44% and wa h June 2016] Hindi Busi rs (8 AM t % market s une 2016] e- July 13, 2016 Page | 2 s18. A one- quarter. The Assam/N.E - tprint in the f the overal digital video com18 also uarter. 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This history. in Q1 FY17 42%. operations ine ticketing ms. f the mov ffice revenu vie was 40% company s he Stripes k18 investe nterest as e- July 13, 2016 Page | 7 grow, with otal number khs in the the signa a. Deliveries sofa covers s was the e has been hed all time ed with 22 s is also the 7 compared s for IPL’s g as well as vie “Jungle ue in India % (share of successfully Group with ed a sum of the largest   6 7 h r e l s s e n e 2 e d s s e a f y h f t     Net twork 18 - o Net o For Publishin twork18 Pu Under ‘Overdr In this OVERD content During publica 800,000 [Source: rbes The Fo 28th Ju winners The Fo various ng ublishing its publish rive’, ‘Better quarter, ‘ DRIVE cha t Q1 FY17, tion had cl 0 average u As per indepe rbes India L une in Mu s for the yea rbes Annive s platforms l hing divisio r Photograp ‘Overdrive’ annel on “ Overdrive.c ose to 3.1 unique visito endent industr Leadership umbai, whe ar 2016. ersary Spec ike TV, prin Netwo on, Network phy’ and ‘Be partnere “Explore” p com the dig million pag ors per mon ry data source Awards (FI ere esteem cial issue w nt, social me       ork18 Q1 FY17 k18 operat etter Interior ed with Jio providing A gital destin ge views p nth. es] ILA) jury rou med jury m was success edia.   Investor Update tes 3 leadi rs’. o Chat to Audio/Video ation of the per month a und was co members se sfully promo e- July 13, 2016 Page | 8 ng brands create an o and text e Overdrive and around onducted on elected the oted across   6 8 , n t e d n e s     Repo T du w af D Li in w 1. Incom (a) Inco (b) Othe Total in 2. Expen (a) Prog (b) Dist (c) Cos (d) Emp (e) Dep (f) Othe Total ex 3. (Loss income, 4. Other 5. (Loss finance 6. Financ 7. (Loss finance 8. Excep 9. (Loss (7+8) 10. Tax e 11. Net after tax 12. Shar 13. Mino 14. Net and sha venture 15. Othe to assoc 16. Tota orted Cons he financia uring the q w.e.f. 1st Au foresaid dat 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 Ventures 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 d finance 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 . ) ) ) )     INV Netw prac info und com upd com perf For Yug Netw E-m Furt Net (CIN Corp T +9 Reg T +9 W w VESTOR CO work18’s o ctices and rmation to der review. mpany this r dates can be mpany’s web formance fo further info g Samrat, work18 Med mail: yug.sam ther informa twork18 M N - L65910M p. office: Exp 91 120 434 1 gd. office: Firs 91 22 4001 9 www.network OMMUNICA ongoing in the quarte investors. E If you wo report shou e accessed bsite www. or Q1 FY17 ormation on dia & Inves mrat@netw ation on the Media & In H1996PLC2 press Trade T 818, F +91 st Floor, Em 9000, F +91 2 k18online.com ATION: vestor com erly investo Each updat ould like to uld be read on request network18o . business a tments Lim work18online e company i nvestment 80969) Tower, Plot N 120 432 411 pire Complex 22 2496 823 m E investo mmunicatio r updates te covers in get a seq along with t from the co online.com. and operatio ited e.com is available ts Limited No. 15-16, S 10 x, 414 Senap 38 ors.n18@netw Netwo n endeavo are design nformation quential an h the updat ontact pers This updat ons, please on its webs Sector 16A, N pati Bapat M work18online       ork18 Q1 FY17 ors to ado ned to regu pertaining t nd continue es sent out ons mentio te covers th contact: site www.ne Noida, Uttar P Marg, Lower P e.com   Investor Update opt best in ularly provid to the repo ed perspect t earlier. Th ned below, he company etwork18on Pradesh- 20 Parel, Mumb e- July 13, 2016 Page | 13 nternationa de detailed rting period tive on the he previous or from the y’s financia line.com 1 301, India bai - 400 013   6 3 l d d e s e l     Netwo       ork18 Q1 FY17   Investor Updatee- July 13, 2016 Page | 14   6 4