ABP News Network receives four TV channel licences from MIB
MUMBAI: News broadcaster ABP News Network has got four new TV channel licences from the ministry of information and broadcasting (MIB) in February.
The company has received uplinking and downlinking licences under the names ABP Andhra, ABP Ganga, ABP Kannada, and ABP Tamil. One of the licences could be used to launch an Uttar Pradesh centric news channel.
ABP News Network currently owns and operates four news channels ABP News (Hindi), ABP Majha (Marathi), ABP Ananda (Bengali), and ABP Asmita (Gujarati).
The company also operates a Punjabi digital news channel ABP Sanjha. Infact, the company’s original expansion plan included the Punjab market. After making a sizeable investment, the company shelved plans to launch ABP Sanjha and instead launched ABP Asmita in 2016.
Recently, the news broadcaster had converted its pay channels to free to air (FTA) under the Telecom Regulatory Authority of India’s (TRAI) new regulatory framework. ABP Ananda and ABP Majha went FTA from 8th February.
As reported earlier by TelevisionPost.com, news broadcaster ABP News Network’s net profit for the fiscal ended 31st March 2018 has gone up 61% due to a strong performance by Hindi and Bengali news channels ABP News and ABP Ananda.
The company’s net profit has jumped to Rs 48.99 crore in FY18 from Rs 30.36 crore in the year ago period. The profit before interest lease depreciation and tax (PBILDT) was up at Rs 95.56 crore from Rs 79.77 crore.
The PBILDT margin witnessed improvement in FY18 on account of increase in ad rates in ABP News and ABP Ananda on account of their established position in their respective genres supported by a marginal reduction in operating losses incurred in new ventures.
Higher PBILDT level primarily coupled with a decline in the capital charge led to an improvement in the PAT margin in FY18. The cash accruals of the company remained satisfactory at Rs 66 crore vis-à-vis term debt repayment obligation of Rs 11.25 crore in FY18.
With an improvement in the profitability level of the company, the net-worth position of the company recovered. Strong cash-flow from established channels (ABP News and ABP Ananda) supported the loss from newer ventures, repayment of term debt and other obligation in FY18 and Q1 FY19.
Meanwhile, the ministry has granted another new TV channel licence under the name Manoranjan Grand to Creative Channel Advertising and Marketing.
Recently, G-Next Media had obtained the ministry’s approval for three channels namely PTC Music, PTC Punjabi Gold and PTC Simran. Skystar Entertainment, which owns and operates Skystar Movies, has received two new licences Skystar Bangla and Skystar Telugu.
ZEE Entertainment Enterprises Limited (ZEEL) had received approval for licence under the name Zee Classic. Incidentally, ZEEL had shutdown Zee Classic last year and launched Zee Bollywood in its place.