Reliance's media & ent unit revenue at Rs 13,000 crore
Reliance Industries Ltd's media and entertainment unit recorded more than Rs 13,000 crore in revenue for the fiscal year ended March 31, as per the company's annual report and filings by multiple business verticals.
Viacom18, the largest media entity of the conglomerate, posted a 75% jump in revenue to Rs 8,032 crore, even as it slipped into the red with a net loss of Rs 252 crore compared with a net profit of Rs 11 crore in the previous fiscal year, due to heavy investments in sports and streaming.
RIL, along with its other subsidiaries, has a majority holding in Viacom18 after buying out Paramount Global's Rs 13.01% stake for Rs 4,286 crore. Viacom18 is in the process of merging with Disney's Star India to create India's largest media entity with an estimated valuation of more than Rs 70,000 crore. It owns and operates entertainment and sports channels under Colors and Sports18, besides the JioCinema streaming platform.
RIL's TV news business under TV18, a wholly owned subsidiary of Network18, recorded a 24% growth in standalone revenue at Rs 1,556 crore even as its net profit dropped 74% to Rs 15 crore.
TV18's TV news business includes CNN-News18, CNBC-TV18 and regional channels under the News18 brand.
RIL owns majority stakes in cable TV distribution companies Hathway Cable and DEN Networks.
Hathway's operating revenue grew 7% to Rs 1,981 crore, while net profit surged 52% to Rs 99 crore. DEN Network's FY24 revenue declined 4% to Rs 1,081 crore while net profit dropped 10% to Rs 213 crore.
Revenue at
