The company reported its highest ever EBITDA at Rs 355 crore in Q3 December 2021, up 11% year-on-year. Operating EBITDA margin stood at 22.7% in Q3 December 2021 as against 23.6% in Q3 December 2020.

News business saw a sharp improvement in EBITDA margin to 27.2%; revenue was up 13% YoY. Entertainment business EBITDA margin was at 21.4%; revenue was up 16% YoY.

TV industry saw an all-time high advertising volumes in the third quarter driven by strong consumer demand, increased spending by existing brands for a higher share of voice and new advertisers using the medium to widen their reach.

Buoyed by the advertising demand and a robust viewership share, both Entertainment and News businesses of the company delivered a strong growth in advertising revenues with YTD revenues surpassing full-year FY21 level.

Domestic subscription revenue for the quarter was flattish YoY while International subscription revenue saw a decline.

Viacom18 entered into a multi-year partnership with NBA to provide live coverage of the regular season of basketball games and marquee events through its television channels and digital platforms. It also has the rights of major footballing events and leagues - FIFA World Cup 2022, La Liga (Spain), Serie A (Italy) and Ligue 1 (France), Cinch Premiership (Scotland) and other sporting events like ATP Masters Tennis, Abu Dhabi T10 Cricket, World Boxing Championship and Road Safety World Cricket Series.

Adil Zainulbhai, chairman of TV18, said: "We are building a strong and sustainable media franchise which not only delivers quality content to Indian audience but also value to the shareholders. Over the last few years, we have taken several significant steps which have helped us achieve the turn around on profitability front and it is really encouraging to see a visible shift in the margin profile of our businesses. As content consumption continues to grow across mediums, our aim is to build platforms of choice for consumers looking for news and entertainment content in their local languages, movies and leading sports events."

TV18 Broadcast, a subsidiary of Network18, manages its primary business of broadcasting. TV18 runs the largest news network in India, spanning business news, general news and regional news channels.

Shares of TV18 Broadcast were up 1.54% at Rs 49.55.