The company’s revenue from operations in Q3FY25 dropped 23% year-on-year (YoY), falling to Rs 1,361 crore from Rs 1,774 crore in the corresponding quarter of the previous financial year.
Both net losses and revenue showed deterioration on a sequential basis. In Q2FY25, net losses were Rs 96 crore, while revenue stood at Rs 1,825 crore.
The company attributed the losses to its owners on both a quarter-on-quarter (QoQ) and YoY basis.
Network18’s Chairman, Adil Zainulbhai, commented on the results, highlighting that the business restructuring had been completed, simplifying the corporate structure for stakeholders. He expressed satisfaction with the growth of their television network and digital business, emphasizing efforts to strengthen leadership positions in regional markets and enhance the consumer experience.Viacom18’s merger with Star India became effective on November 14, 2024, leading to the formation of a joint venture (JV). The company now claims to be one of India’s largest broadcasting and streaming entities. Reliance Industries (RIL) invested Rs 11,500 crore into the JV, with Viacom18 holding a 46.82% stake, RIL owning 16.34%, and Disney holding 36.84%.On December 30, 2024, Viacom18 ceased to be a subsidiary of Network18 after RIL converted its Compulsory Convertible Preference Shares (CCPS) into equity. Following this, Network18 holds 16.12% of Viacom18’s equity share capital, or 13.54% on a fully diluted basis.Network18 Media & Investments owns a portfolio of 20 news channels in 16 languages, including CNBC TV18, CNN-News18, and four online platforms such as Moneycontrol and Firstpost.
On Tuesday, shares of the media company rose 2.69% to settle at Rs 61. The stock has fallen nearly 50% in the last one year, meanwhile, they have offered 125% returns in the past five years.
