BCCL ad revenue up 16% to Rs 4974 crore in FY23
The media conglomerate’s print revenue grew by 20.31% and television revenue by 13.81% for the year ended March 31, 2023
The Indian media conglomerate Bennett Coleman and Company Limited (BCCL) has posted an increase of 25.22% in revenue from operations for the year ended March 31, 2023, from Rs 7210.88 crore in the previous fiscal to Rs 9029.69 crore in FY23.
The total income was up by 23.17% to Rs 9,578.08 crore in FY23 as compared to Rs 7,776.01 crore in the previous year. The company’s employee benefit expenses rose by 13.22% to Rs 2765.43 crore as compared to Rs 2442.63 crore in the previous fiscal.
According to financial data accessed by exchange4media, the company posted a loss of Rs Rs 6.59 crore against a profit of Rs 456.42 crore in FY22.
In FY23, the group’s sale of publication revenue grew by 20.54% to Rs 484.08 crore against Rs 401.58 in the previous year. Meanwhile, the revenue from the sale of services grew 45% to Rs 1,420.15 crore from Rs 979.27 crore in FY22. The advertisement revenue of the group increased by 16.54% to Rs 4,973.79 crore in FY23 against Rs 4,267.99 crore in FY22.
The television subscription/ distribution revenue of the group grew by 6.71% to Rs 724.54 crore against Rs 678.98 crore in the previous year and revenue from the Web portal and support services stood at Rs 383.21 for the year ended March 31, 2023, against Rs 350.55 crore in the previous fiscal year. Other operating revenue of the group for the year ended March 31, 2023, was Rs 1,043.92 crore compared to Rs 532.51 crore in FY22.
BCCL’s print revenue grew 20.31% for the fiscal year 2023 to Rs 4,345.18 crore as compared to Rs 3,611.69 crore for the fiscal ended March 31, 2022, whereas television business revenue grew by 13.81% to Rs 925.70 crore against Rs 813.36 crore in FY22. Revenue from the Internet segment, which comes under subsidiary company Times Internet Limited (TIL), grew 6.88% to Rs 1,747.54 crore against Rs 1,635.02 crore in FY22.
The company shared that on March 31, 2023, Times Internet Ltd. (TIL), a wholly owned subsidiary, sold investments made in Delhivery Limited having cost Rs. 7.33 crores (Previous year Rs. 4.52 crores) for a total consideration amounting to Rs. 128.29 crores (Previous year Rs. 105.14) crores to shareholders in the capacity of owner and others. As a result of this, the company has transferred from OCI reserve to retained earnings Rs. 128.29 crores (Previous year Rs. 105.14 crores).
