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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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 unoperatinentities methodaccounSegmenas segmfor the q
Segme(a) Me(b) Fil(c) OtTotal(d) OtLess: InNet incLess: R
Net inc
Segme(a) Me(b) Fil(c) OtSegmeLess:(d) Fina(e) Oth(f) OthTotal lo
Less: PProfitVentur
Tax expNet losShare oMinorityNet (loshare oCapita(Segme(a) Me(b) Fil(c) OthTotal(d) UnTotal c
ed Consol
audited conng results b
which werd under theting under nts’ as definment revenquarter end
Partic
ent revenueedia operatiom productiothers
ther unallocanter segmencome from oRevenue rela
come from o
ent resultsedia operatiom productiothersent (loss)/pr
ance costsher unallocabher unallocaboss/(profit)
Profit before before
res/Associa
pensess/(profit) aof profit of asy interestoss)/profit aof profit of l Employedent assets –edia operatiom productiohers
nallocable ascapital empl
Nidated Seg
nsolidated Sby the chiere hitherto e Indian GA
the Ind ASned under Iue and Inc
ded 30th Jun
culars (In R
e onsn and distrib
able revenuent revenueoperationsated to Joint
operations
onsn and distrib
rofit before
ble expendituble incomebefore tax
tax of Joint vtax
ates)
after taxssociates an
after tax, minassociates
– Segment liaonsn and distrib
ssets less lialoyed
Network18 gment Infor
Segment inef operatingconsolidate
AAP but hS. The comInd AS 108
come from One, 2016 re
Rs. Crore)
bution
e
ventures/ As
as reported
bution
Tax and fin
ure
ventures/Ass(excluding
nd joint ventu
nority intereand joint v
abilities)
bution
abilities
Media & Inrmation for
nformation hg decision ed and/or aave now bmpany con. AccordingOperations
elates to inco
ssociates
d
nance cost
sociatesg Joint
ures
est and entures
Netwo
nvestmentsr the Quarte
has been pmaker (CO
accounted ubeen accounsiders thesgly, the diffe
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
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 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 of‘Operating
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
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(aTo
2. Ex(a(b(c(d(eTo
3. Prinite
4. O5. Pr
fin(3
6. Fi7. Pr
be8. Ta9. Ne10. Sh11. M12. Ne
inas
13. Ore
14. To
orted Cons
ancials of Pended 30thhen Prism c
ncome from a) Income frootal incomexpenses
a) Programmb) Employee c) Marketing,d) Depreciatie) Other expeotal Expensrofit from o
ncome, finanems (1-2)ther Incomerofit from onance costs3+4)nance Costsrofit / (Lossefore tax (5ax expense et Profit / (Lhare of profitinority intereet Profit / (L
nterest and ssociate (9+ther Compre
elating to joinotal Compre
Particula
solidated F
Prism TV Prh June 2015ceased to b
Operationsom operatione from Oper
ming costbenefits exp distribution on and amoensessesperations bnce costs a
erdinary actis and excep
ss) from ordi5+6)(charge / (crLoss) for tht of associat
est (recoveryLoss) after share of pr
+10-11)ehensive Inc
nt ventures)ehensive In
ars (In Rs. C
TV18inancial Pe
ivate Limite5 and have be a subsidi
snsrations (net
penseand promot
ortisation exp
before otheand excepti
ivities befoptional item
nary activit
redit))he period (7tey)taxes, mino
rofit of
come (includ
ncome (12+
Crores)
8 Broadcaserformance
ed (Prism) wbeen 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 consolidered 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 aJoint 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. 1sresaid 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, 2016Page | 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
Thethe werbut Com108per
Particu
1. Segm (a) M (b) FTotalLess: INet Inc
Less: R
Net inc
2. SegmSegme (a) M (b) FTotalLess: ISegmecostLess: (i)
(ii) 3. Segm
Less: P
4. Prof
4. Tax e5. Segm6. Shar7. Mino8. Net interes9. Capi (a) M (b) F (c) UTotalLess: ITotal C
ported Con
e Segment chief opera
re hitherto chave now b
mpany cons8. According
the Una
ulars (In Rs.
ment RevenMedia operatiFilm Producti
Inter Segmecome From
Revenue rela
come from o
ment Resulent ResultsMedia operatiFilm Producti
Inter Segmeent (Loss) /
Finance cosUn-allocable
ment (Loss)
Profit Before
fit Before Ta
expense (chment Net (Lre of profit of rity interest (Profit / (Losst and shareital Employe
Media operatiFilm ProductiUnallocated
Inter SegmeCapital Emp
nsolidated
informationating decisioconsolidatedbeen accousiders thesegly, the diffeaudited Co
. Crores)
nue onson and Distr
nt Revenue Operations
ated to joint v
operations a
ts
onson and Distr
nt ProfitsProfit befo
ste Income) / Profit Be
Tax of Joint
ax (excludin
arge / (crediLoss) / Profif associate(recovery)ss) after taxe of profit oed
onson and Distr
nt eliminatioployed
TV18Segment I
has been on maker (Cd using propunted for une entities aserence betwonsolidated
ribution
s
ventures
as reported
ribution
ore tax and
efore Tax
Ventures
ng Joint Ven
it))it (3-4)
xes, minorityof associate
ribution
n
8 Broadcasnformation
prepared inCODM) incportionate c
nder equity s part of ‘Opween amou
Results
3
d
d finance
ntures)
y (5+6-7)
Netwo
t Limited n for the Qu
n line with tluding the r
consolidatiomethod of aperating Sents reporterelate 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 oresults of thon method uaccounting egments’ asd as segmeoperations
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 operatinghe joint venunder the Inunder the I
s defined unent informas 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, 2016Page | 12
ne, 2016
g results bytures which
ndian GAAPnd AS. The
nder Ind ASation and ast 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
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Investor Update
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Parel, Mumb
e- July 13, 2016Page | 13
nternationade detailedrting periodtive on thehe previousor from the
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