Network18 Q3 Results

Net profit jumps 54% QoQ to Rs 307 crore, revenue comes in at Rs 1,657 crore..

“As we have seen over the last several years, content consumption is an integral part of consumers’ lives and there is a willingness to spend more time and money, provided they get access to quality content at an affordable price,” said Chairman Adil Zainulbhai.

The consolidated operating revenue was up 19 percent quarter-on-quarter (QoQ) at Rs 1,657 crore. On yearly basis, there was a growth of 17 percent backed by strong growth in advertising revenues in both TV Entertainment and News businesses, driven by a robust viewership share and consumer reach. Digital News continued to grow at a strong pace with advertising revenue more than 2x compared to FY20.

The growth in revenues assumes significance amid the pandemic-induced headwinds faced by the movie business.

While commenting on the business performance for the quarter, Adil Zainulbhai, Chairman, said, “As we have seen over the last several years, content consumption is an integral part of consumers’ lives and there is a willingness to spend more time and money, provided they get access to quality content at an affordable price”.