Network18 Media News Today

Another large deal worth Rs 78 crore took place in the companys arm, TV18 Broadcast. Buyers and sellers of this transaction were also unknown.

The media company, which also owns stakes in Viacom18, saw its operating revenue increase by 20% year-on-year to Rs 1866 crore, driven by the news business, movie studios, and sports verticals. Viacom18 owns and operates 38 TV channels besides the JioCinema streaming platform. It also runs 20 news channels across multiple languages in addition to digital news properties

Both TV18 Broadcast and Network18 Media stocks soared up to 10 percent. Other media shares such as DB Corp, PVR Inox, Dish TV, Sun TV were also up in the range of 1-5 percent.

Network18 Q1: The company said its TV News network delivered strong growth in revenues driven by leadership in key markets as its channels continue to be number one in the Hindi, English and Business news genres

BSE's Nifty Media index has slipped nearly 14% this year so far

Network18 Media & Investments rallied 2.86% to Rs 39.60 after the companys consolidated net profit surged 241.91% to Rs 205.80 crore on 3.40% decline in revenue from operations to Rs 1,414.70 crore in Q4 FY21 over Q4 FY20. Consolidated operating EBITDA jumped 24% to Rs 279 crore in Q4 FY21 as against Rs 225 crore in Q4 FY20. Operating EBITDA margin improved to 19.7% in Q4 FY21 as compared to 15.4% in Q4 FY20. The Q4 earnings were announced after market hours on Tuesday, 20 April 2021. The marke...