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. 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. 2. 3. 4. 5. 6. 7. Busine NetDuring the time expenchannel is a Three news- were launregional neoperating loRishtey Cindestination launched Haggregate consolidate FYI, a factuA&E Netwo5.4 crore fo Homeshop states and to reduce cproducts. Bookmyshocrores in successfullparticipatioand maintaess Perfortwork18 - quarter, CNse of Rs. 3already #2 s channels nched in theews genre. osses for thneplex, a Hin the OveHD channeoperating ed results isual entertaiork), was coor this chann18s perforan increascosts, notabow achievethe corresy raised USn from all thained its sharmance Television NW18sleaders[Source: CNBC T42% ma4 PM) Cgenre. [Source: CNBC genre wweekdagenre [Source: NN-IBN was.5 crores toin Urban In-- News18 e month of These threehe quarter.indi movie r The Top oels in Kanloss attribs Rs. 29.2 cnment chanommerciallynel is includrmance wase in distribubly implemeed a revenusponding qSD $75 MNhe existing areholding in Operatios TV channs in most seBARC, All IndTV18 maintarket shareCNBC TV1BARC, All IndAwaaz conwith 59% mays). OveraBARC, HSM, s re-brandeowards re-bdia. Kerala, Newf April, furthe channels channel anor OTT spacnnada, Marbuted to throres. nnel from thy launched ded in the As impacted ution cost. 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The comInd AS 108come from One, 2016 reRs. Crore)butioneventures/ Asas reportedbution Tax and finureventures/Ass(excludingnd joint ventunority intereand joint vabilities)butionabilitiesMedia & Inrmation fornformation hg decision ed and/or aave now bmpany con. AccordingOperations elates to incossociatesdnance costsociatesg Jointuresest and enturesNetwonvestmentsr the Quartehas been pmaker (COaccounted ubeen accounsiders thesgly, the diffeas per theome from o30 Jun'16801.3 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 Quork18 Q1 FY17s Limited er Ended 3repared in ODM) includunder proponted for unse entities erence betw Unauditedoperations o31 Mar'16893.6 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 endeInvestor Update30th June, 2line with thding the resortionate conder equity as part of ween amoun Consolidaof these ent30 Jun'15761.4 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 | 102016 he review ofsults of theonsolidationmethod ofOperatingnts reportedted Resultsities. 31 Mar'163,304.2 129.2 - 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 finaquarter 2015 w 1. In(aTo2. Ex(a(b(c(d(eTo3. Prinite4. O5. Prfin(36. Fi7. Prbe8. Ta9. Ne10. Sh11. M12. Neinas13. Ore14. Toorted Consancials of Pended 30thhen Prism cncome from a) Income frootal incomexpensesa) Programmb) Employee c) Marketing,d) Depreciatie) Other expeotal Expensrofit from oncome, finanems (1-2)ther Incomerofit from onance costs3+4)nance Costsrofit / (Lossefore tax (5ax expense et Profit / (Lhare of profitinority intereet Profit / (Lnterest and ssociate (9+ther Compreelating to joinotal CompreParticulasolidated FPrism TV Prh June 2015ceased to bOperationsom operatione from Operming costbenefits exp distribution on and amoensessesperations bnce costs aerdinary actis and excepss) from ordi5+6)(charge / (crLoss) for tht of associatest (recoveryLoss) after share of pr+10-11)ehensive Incnt ventures)ehensive Inars (In Rs. CTV18inancial Peivate Limite5 and have be a subsidisnsrations (netpenseand promotortisation expbefore otheand exceptiivities befoptional itemnary activitredit))he period (7tey)taxes, minorofit of come (includncome (12+Crores) 8 Broadcaserformance ed (Prism) wbeen consiiary of the C30 J t) tional pense er onal ore ms ties 7-8) ority ding +13) Netwot Limited e for the Quwere consolidered as a Company froJun'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) Quarteork18 Q1 FY17uarter Endidated as aJoint Ventuom the aforMar'16 30303.7 303.7 - 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 Updateed 30th Jun subsidiary ure w.e.f. 1sresaid date.0 Jun'15 3273.1 273.1 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 Yee- July 13, 2016Page | 11ne, 2016 during the st August 31 Mar'161,052.1 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 ended6 1 Rep Thethe werbut Com108per Particu1. Segm (a) M (b) FTotalLess: INet IncLess: RNet inc2. SegmSegme (a) M (b) FTotalLess: ISegmecostLess: (i) (ii) 3. SegmLess: P4. Prof4. Tax e5. Segm6. Shar7. Mino8. Net interes9. Capi (a) M (b) F (c) UTotalLess: ITotal Cported Cone Segment chief operare hitherto chave now bmpany cons8. Accordingthe Unaulars (In Rs.ment RevenMedia operatiFilm ProductiInter Segmecome From Revenue relacome from oment Resulent ResultsMedia operatiFilm ProductiInter Segmeent (Loss) /Finance cosUn-allocablement (Loss)Profit Before fit Before Taexpense (chment Net (Lre of profit of rity interest (Profit / (Losst and shareital EmployeMedia operatiFilm ProductiUnallocatedInter SegmeCapital Empnsolidated informationating decisioconsolidatedbeen accousiders thesegly, the diffeaudited Co. Crores)nue onson and Distrnt Revenue Operationsated to joint voperations ats onson and Distrnt ProfitsProfit befoste Income) / Profit BeTax of Joint ax (excludinarge / (crediLoss) / Profif associate(recovery)ss) after taxe of profit oed onson and Distrnt eliminatioployed TV18Segment I has been on maker (Cd using propunted for une entities aserence betwonsolidated ributionsventuresas reportedributionore tax andefore Tax Venturesng Joint Venit))it (3-4)xes, minorityof associate ributionn8 Broadcasnformation prepared inCODM) incportionate cnder equity s part of Opween amouResults 3 d d finance ntures) y (5+6-7) Netwot Limited n for the Qun line with tluding the rconsolidatiomethod of aperating Sents reporterelate to 0 Jun'16 3587.8 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 Quaork18 Q1 FY17uarter Endethe review oresults of thon method uaccounting egments asd as segmeoperations31 Mar'16663.7 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 endedInvestor Updateed 30th Junof operatinghe joint venunder the Inunder the Is defined unent informas of joint30 Jun'15566.3 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, 2016Page | 12ne, 2016 g results bytures whichndian GAAPnd AS. Thender Ind ASation and ast ventures31 Mar'162,477.7 129.2 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 .))))INVNetwpracinfoundcomupdcomperf For YugNetwE-m Furt Net(CINCorpT +9RegT +9W w VESTOR COwork18s octices and rmation to der review. mpany this rdates can bempanys webformance fofurther infog Samrat, work18 Medmail: yug.samther informatwork18 MN - L65910Mp. office: Exp91 120 434 1gd. office: Firs91 22 4001 9www.networkOMMUNICAongoing inthe quarteinvestors. EIf you woreport shoue accessed bsite www.or Q1 FY17ormation on dia & Invesmrat@netwation on theMedia & InH1996PLC2press Trade T818, F +91 st Floor, Em9000, F +91 2k18online.comATION: vestor comerly investoEach updatould like to uld be readon requestnetwork18o. business atments Limwork18onlinee company investment80969) Tower, Plot N120 432 411pire Complex22 2496 823m E investo mmunicatior updates te covers inget a seq along witht from the coonline.com. and operatioited e.com is available ts LimitedNo. 15-16, S10 x, 414 Senap38 ors.n18@netwNetwon endeavoare designnformation quential anh the updatontact persThis updatons, please on its websSector 16A, Npati Bapat Mwork18onlineork18 Q1 FY17ors to adoned to regupertaining tnd continuees sent outons mentiote covers thcontact: site www.neNoida, Uttar PMarg, Lower Pe.com Investor Updateopt best inularly providto the repoed perspectt earlier. Thned below, he companyetwork18onPradesh- 20Parel, Mumbe- July 13, 2016Page | 13nternationade detailedrting periodtive on thehe previousor from theys financialine.com 1 301, Indiabai - 400 0136 3 l d d e s e l Netwoork18 Q1 FY17 Investor Updatee- July 13, 2016Page | 14 6 4

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