ITV

Category: Financials

  • PCCW Media reports lower half year video numbers, higher OTT numbers

    BENGALURU: Hong Kong based telecommunications, media, IT solutions, property development and investment and other businesses group PCCW Limited reported lower numbers for its video operations comprising of NowTV and improved revenue for its ViuTV and its OTT operations for the half year ended 30 June 2017 (H1-17) as compared to the corresponding period of the previous year. Overall, on a consolidated basis, the group’s revenue and operating profits were stable during the current year period as compared to the corresponding year ago period.

    For NowTV, the company reported a stable subscriber base of about 1.3 million and lower average revenue per user (ARPU) of HK$186 in H1-17. The company has mentioned ARPU of HK$ 194 for H1-16 and HK$192 for H2-16. Consequently, revenue in the current quarter declined 3 percent to HK$ 1,350 million from HK$ 1,391 million in the corresponding period of last year (H1-16) and from HK$ 1509 million in the immediate trailing half year period (H2-16).

    NowTV EBIDTA was HK$ 154 million, HK$ 184 million and HK$ 229 million for H1-17, H1-16 and H2-16 respectively.

    For its Free TV business – ViuTV, the company reported revenue in H1-17 of HK$94 million as compared to HK$ 52 million in H1-17, but lower than the HK$ 108 million for H2-17. ViuTV had a higher operating loss (negative EBIDTA) for H1-17 at HK$ 116 million as compared to HK$ 68 million in H1-16 and HK$ 115 million in H2-16.

    OTT services revenue increased 24 percent to HK$ 337 million in H1-17 as compared to HK$ 227 million in H1-16 and HK$ 312 million in H2-16. OTT services reported a higher operating loss (negative EBIDTA) of HK$ 125 million in H1-17 as compared to HK$ 109 million in H1-16 and slightly lower than an operating loss of HK$ 126 million in H2-16.

    Overall, PCCW Limited core revenue decreased by 5 percent to HK$ 17,576 million due to a slowdown in Mobile handset sales at HKT. Excluding Mobile handset sales, core revenue was steady at HK$ 16,549 million. The Solutions and over-the-top (OTT) businesses showed continued growth momentum with their revenues increasing by 6 percent and 24 percent, respectively, for the six months ended June 30, 2017, compared to a year ago

    PCCW Group managing director BG Srinivas said the Group’s strategy was to continue to develop and maintain our leadership in the relevant markets of each of our core businesses of IT solutions, media, and telecommunications, while seeking new growth opportunities.

    He said, “With an excellent track record in large-scale IT projects and a global data centre network alliance, PCCW Solutions will continue to benefit from the needs of enterprises and the public sector to go digital. The significant recurring nature of its business and the expanding demand for digital transformation capabilities should lead to a growing contribution from PCCW Solutions.”

    “Now TV has consolidated its market leadership in the pay TV industry in Hong Kong while ViuTV has broadened our reach into the TV advertising market. Although the environment in the media industry in Hong Kong has been very dynamic in the past year, we expect the competitive behavior to rationalize and lead to improved profitability. The OTT business has extended our geographic scope beyond Hong Kong and we now have a presence in 24 markets. Our goal is to build the leading digital media service in Asia with the best viewing experience and most relevant content,” added Srinivas.

    PCCW raises US$ 110million for video and music streaming

    In a press release, PCCW says that it has raised US$110 million to expand its penetration in its existing markets as well as to expand to other high growth markets its range of video and music streaming services. Hony Capital, Foxconn Ventures and Singapore sovereign fund Temasek have taken an 18 percent share in the enlarged issued share capital of PCCW OTT. PCCW Media will remain as the controlling shareholder of PCCW OTT. PCCW OTT is present in over in 24 markets globally. Its services include video streaming services under the Viu and Vuclip brands along with a music streaming service MOOV.

    The company says that this strategic investment will strengthen PCCW OTT’s ability to enhance its core value proposition of relevant content including distinctive original productions, and to continue to deploy the latest technologies and leverage its patents in video streaming and encoding to offer the best customer experience.

  • Sun TV reports improved Q1-18 numbers, declares 50% interim dividend

    BENGALURU: Sun TV Network Limited (Sun TV) reported improved numbers across all important parameters for the quarter ended 30 June 2017 (Q1-18, current quarter) as compared to the corresponding quarter of the previous year (y-o-y, Q1-17). Sun TV reported 5.2 per cent higher consolidated total income in the current quarter at Rs 8,233.8 million as compared to Rs 7,823.8 million in q1-17. Operating revenue increased 3.4 per cent to Rs 7,863.2 million in Q1`-18 from Rs 7,608.3 million in Q1-17. The board of directors of Sun TV has declared an interim dividend of Rs 2.50 per equity share of face value of Rs 5 each (50 per cent).

    The company says in its earnings release that subscription revenue at Rs 2,705 million was up 15.3 per cent in Q1-18 as against Rs 2,346.8 million in the corresponding quarter of the previous year.

    The company’s profit after tax or PAT in Q1-18 improved 8 per cent to Rs 2,516.4 million (32 per cent of Operating Revenue) as compared to Rs 2,330.6 million (29.8 per cent of Operating Revenue) in Q1-17.

    Sun TV EBIDTA in the current quarter was Rs 4,483.6 million (57 percent of Operating Revenue), 2.7 percent higher as compared to Rs 4,369.9 million (57.4 percent of Operating revenue) in Q1-17.

    Total Expenditure (TE) in the current quarter increased 3.8 per cent to Rs 4,415 million (56.1 per cent of Operating Revenue) as compared to Rs 4,253 million (54.4 per cent of Operating Revenue) in the corresponding quarter of the previous year.

    Operating expense in Q1-18 increased 37.6 per cent to Rs 683.1 million (8.7 per cent of Operating Revenue) from Rs 496.6 million (6.3 per cent of Operating Revenue) in the corresponding quarter of the previous year.

    Employee Benefits Expense in Q1-18 increased 13.5 per cent to Rs 684.2 million (8.7 per cent of Operating Revenue) as compared to Rs 603 million (7.7 per cent of Operating revenue) in Q1-17.

    Other expenses (OE) in the Q1-18 decreased 10.3 per cent to Rs 1,157.5 million (14.7 percent of Operating Revenue) as compared to Rs 1,290 million (16.5 per cent of Operating Revenue) in the corresponding quarter of the previous year.

    IPL Franchisee

    Sun TV has paid franchisee fees for its IPL team Sun Risers Hyderabad (SRH) of Rs 85.48 million in Q1-18 same as in the first quarter of FY-17. The company says that its IPL Franchisee had revenue of Rs 1,431 million in Q1-18, down 0.7 per cent as compared to Rs 1,440.4 million in Q1-17. IPL Franchisee costs in Q1-18 were down 5.9 per cent to Rs 1,655 million as compared to Rs 1,758.4 million in Q1-17.

  • Prime Focus reports flat results for first quarter

    BENGALURU: After the sale of certain investments and restructuring and integration costs in the previous fiscal (FY-17), including in the quarter ended 30 June 2016 (Q1-17), Prime Focus Limited (PFL) had reported healthy numbers for FY-17. The company has now reported almost flat revenue and EBIDTA numbers for the quarter ended 30 June 2017 (Q1-18, current quarter) as compared to Q1-17. Revenue Income from operations was 2.41 percent lower in the current quarter at Rs 5,135.22 million as compared to Rs 5,262.13 million in Q1-17. Total Income in Q1-18 was 0.82 percent lower year-over-year (y-o-y) at Rs 5,241.89 million as compared to Rs 5,285.09 million in Q1-17.

    EBIDTA including other income in the current quarter was flat (down 0.01 percent) at Rs 1,033.16 million (19.71 percent of Total Income) as compared to Rs 1,033.30 million (19.55 percent of Total Income) in Q1-17. The company says that adjusted EBIDTA was up 9 percent at Rs. 1,118mn (Q1-17: Rs. 1,023 million), with margin at 21.4 percent (Q1-17: 19.4 percent), with significant work being delivered on projects from India. The company reported foreign exchange gain for the period at Rs. 22 million.

    Total Expenditure in Q1-18 declined fractionally by 0.11 percent to Rs 5,239.58 million from Rs 5,245.19 million in Q1-17. Employee benefits expense in Q1-18 reduced 6.18 percent to Rs 2,966.46 million from Rs 3,161.77 million in the corresponding quarter of the previous year. Technician fees in Q1-18 reduced 1.30 percent to Rs 90.51 million from Rs 91.70 million in Q1-17. Technical Services cost in the current quarter fell by 18.86 percent to Rs 134.35 million from Rs 165.59 million in Q1-17. Finance cost in Q1-18 increased 24.08 percent to Rs 376.38 million from Rs 303.32 million in Q1-17. PFL says that Finance costs in the current quarter includes non-operating charges of Rs. 85 millon on account of amortizations of debt like items Other Expenditure in the current quarter increased 9.41 percent to Rs 911.06 million as compared to Rs 832.73 million in corresponding quarter of fiscal 2017.

    In its investor presentation, PFL says that its creative services revenue in Q1-18 was Rs 4,042 million, while in Q1-17 it was Rs 4,052 million. Adjusted EBIDTA for creative services increased in Q1-18 to Rs 804 million (19.9 percent margin) from Rs 682 million (16.8 percent margin) in Q1-17. The company says that EBITDA margin increased as India integration proceeded at a steady pace; significant work continued to be delivered on projects from India, and steps were being taken to upsize and upskill the Indian workforce. PFL launched PFAMES (Prime Focus Academy of Media & Entertainment Studies) for training entry level personnel in India. It claims that it has delivered movies like Transformers: The Last Knight, Wonder Woman, The Mummy, Pirates of the Caribbean: Dead Men Tell No Tales and King Arthur: Legend of the Sword among others. PFL says that it has an order book at in excess of $250 million with projects like M:I 6 – Mission Impossible, Godzilla Sequel, Pacific Rim: Uprising, American Assassin, Justice League, Geostorm, Avengers, Alpha, Blade Runner 2049, Thor Ragnarok and other major unannounced projects.

    PFL’s Tech/Tech Enabled services revenue in Q1-18 was slightly lower at Rs 822 million as compared to Rs 841 million in the corresponding year ago quarter. EBIDTA for Tech/Tech Enabled services increased to Rs 223 million (27.1 percent margin) from Rs 220 million (26.1 percent margin). Its order book for Tech/Tech Enabled services was at $200 million to be executed over next 3 to 5 years.

    ALSO READ :

    Prime Focus reports profit for third quarter of 2017

    Q2-2016: Prime Focus revenue up 47% ;EBIDTA doubles

    Reliance MediaWorks acquires 30 per cent stake in Prime Focus

  • GTPL Hathway reports higher numbers and flat q-o-q ARPUs

    BENGALURU: After declaring a maiden 10 percent dividend for the previous fiscal, Indian Multi-System Operator (MSO) and Broadband Internet Services (broadband) provider GTPL Hathway Limited has reported a year-over-year growth in standalone CATV total income of 25 percent for the quarter ended 30 June 2017 (Q1-18, current quarter). Quarter-on-quarter (q-o-q), standalone CATV total income however declined 5 percent on lower other income. The company’s Average Revenue per User (ARPU, net of taxes) was almost flat q-o-q across all the four DAS phases I, II, III and IV at Rs 100, 95, 54 and 40 respectively, except that in Q4-17, DAS phase IV ARPU reported by the company was slightly higher at Rs 41. GTPL Hathway reported CATV total income of Rs 1,782 million, Rs 1,884 million and Rs 1,423 million for Q1-18, Q4-17 and Q1-17 respectively.

    The company’s has two subsidiaries – GTPL Broadband Private Limited a 100 percent subsidiary of GTPL Hathway and GTPL Kolkata      Cable and Broadband Pariseva Limited (KCBPL) in which GTPL Hathway has a 51 percent stake.

    Both the subsidiaries along with GTPL Hathway (standalone)     contributed approximately 90 percent of revenue in consolidated accounts of financial year 2016-2017. The two subsidiaries also reported a healthy growth in numbers.

    GTPL Hathway managing director Anirudhasinhji Jadeja said, “After posting 33 percent growth in CATV subscription revenue and 77 percent growth in broadband subscription revenue, GTPL Hathway continued the growth momentum well into the first quarter of fiscal 2018. The monetisation of phase III and phase IV kicked off. Further, at GTPL we are continuously upgrading our technology to offer the best in class output to our subscribers. We have deployed the next generation video headend system Harmonic Inc., USA which will enable us to offer up to 650 cable TV channels and 50 OTT channels.”

    GTPL standalone EBIDTA for the current quarter increased 29 percent y-o-y to Rs 570 million (32 percent margin) from Rs 443 million (31 percent margin), but declined 10 percent q-o-q from Rs 637 million (34 percent margin). Standalone profit after tax (PAT) increased 86 percent y-o-y to Rs 148 million from Rs 79,4 million, but declined 26 percent q-o-q from Rs 201 million.

    GTPL standalone subscription revenue increased 19 percent y-o-y in Q1-18 to Rs 903 million from Rs 757 million and increased 7 percent q-o-q from Rs 842 million. Standalone placement revenue in the current quarter increased 17 percent y-o-y to Rs 578 million from Rs 493 million and increased 2 percent q-o-q from Rs 567 million. Activation revenue in Q1-18 increased 34 percent y-o-y to Rs 176 million from Rs 136 million and increased 3 percent q-o-q from Rs 171 million. Other income in the current quarter almost tripled (2.98 times) y-o-y to Rs 125 million from Rs 42 million, but was less than half (declined 59 percent) q-o-q as compared to Rs 304 million in Q4-17.

    GTPL standalone total expenditure increased 24 percent y-o-y in Q1-18 to Rs 1,211 million from Rs 980 million, but declined 3 percent q-o-q from Rs 1,247 million. Pay channel cost in Q1-18 increased 28 percent y-o-y to Rs 798 million from Rs 622 million, but declined 2 percent q-o-q from Rs 815 million.

    GTPL standalone employee cost in the current quarter increased 15 percent y-o-y to Rs 116 million from Rs 101 million and declined 11 percent q-o-q from Rs 130 million.  Standalone administrative expense in Q1-18 increased 17 percent y-o-y to Rs 174 million from Rs 149 million but declined 2 percent q-o-q from Rs 177 million. Standalone other operating expense in the current quarter increased 14 percent y-o-y to Rs 123 million from Rs 108 million and was almost flat q-o-q as compared to Rs 124 million.

    The company says that it has seeded 0.86 million set top boxes in the current quarter and increased its active digital subscribers by 0.71 million. So far until 30 June it has seeded 7.76 million STBs’ and it has 6.69 million active STBs’. Phase-wise, GTPL Hathway says that it has completed seeding of 0.72 million, 2.23 million, 2.53 million and 2.28 million STBs’ in DAS phases I, II, III and IV respectively until 30 June 2017.

    KCBPL total income in the current quarter increased 12 percent y-o-y to Rs 325 million from Rs 290 million and increased 5 percent q-o-q from Rs 310 million. KCBPL EBIDTA in Q1-18 declined 23 percent y-o-y to Rs 63 million from Rs 81 million and increased 7 percent q-o-q from Rs 59 million. KCBPL reported loss of Rs 13 million as compared to a profit of Rs 8 million in the corresponding year ago quarter and a lower loss of Rs 7 million in the immediate trailing quarter Q4-17.

    GTPL Broadband total income increased 25 percent y-o-y to Rs 318 million from Rs 254 million and increased 4 percent q-o-q from Rs 304 million. GTPL Broadband EBITDA in Q1-18 increased 65 percent y-o-y to Rs 84 million from Rs 51 million and increased 9 percent q-o-q from Rs 77 million. GTPL Broadband PAT almost doubled (went up by 95 percent) to Rs 37 million from Rs 19 million and increased 10 percent q-o-q from Rs 34 million.

    GTPL Broadband subscriber base increased to 0.25 million in Q1-18 as compared to 0.19 million in Q1-17 and 0.24 million in Q4-17. Broadband ARPU increased to Rs 486 in Q1-18 as compared to Rs 455 in the corresponding year ago quarter Rs 480 in the immediate trailing quarter.

    Also Read:

    GTPL Hathway declares maiden dividend on higher numbers for FY-17

    GTPL boosts channels & OTT with Harmonic, can deliver to 8 mn homes

    GTPL Hathway allots Rs. 1450 mn to anchor investors, IPO opens today

  • Profit returns to Videocon d2h, court approves Dish TV merger scheme

    BENGALURU: After three consecutive profitable quarters in fiscal 2017 (year ended 31 March 2017, FY-17), Indian direct to home Saurabh Dhoot led major Videocon d2h Limited had reported a net loss of Rs 87 million for the last quarter of last fiscal (Q4-17). The company has returned back to the black for the quarter ended 30 June 2017 (Q1-18, current) with a profit after tax (PAT) of Rs 12 million. After the Essel group’s DTH company Dish TV India Limited, Videocon d2h is one of the few television signal carriage companies in India that have started reported profits after taxes.

    The company has informed the bourses through a press release that it has received a nod from the Mumbai bench of the National Company Law Tribunal ( for the scheme of arrangement among Videocon d2h (transferor company), Dish TV  India and their respective shareholders and creditors for the amalgamation with Dish TV. The appointed date for the amalgamation is 1 October 2017.

    Commenting on the company outlook, Videocon d2h executive chairman Saurabh Dhoot said, “In the past few weeks, the management has been working on an integration plan. The merged entity plans to adopt and implement the best practices of both companies. We believe this merger provides exciting opportunities through the customer service model, convergence of technologies, expanded breadth of content offerings including expansion of exclusive content, advertising income growth potential as well as synergies from a combined subscriber base of more than 28 million. The merged entity would be one of the largest pay TV platforms in the world in terms of subscriber base, according to the company estimates. I am very excited for this new journey of a business that commands strong business fundamentals and growth opportunities supported by our strong balance sheet and growing free cash flows.”

    Speaking on the business outlook, Videocon d2h CEO Anil Khera said “I am pleased to share that Goods and Service Tax (GST) came into effect starting July 1, 2017. GST will simplify the taxation regime and improve the ease of doing business. GST would also drive the unorganized segment, such as local cable operators, towards taxation.

    I am happy to share that the monsoons this year have been in line with long term average. This is likely to strengthen the macro-economic sentiment and imply good consumption from rural India. This is positive for the DTH industry and the upbeat rural sentiment due to the good monsoon could lead to a strong outlook for the festive quarter.”  

    The company reported a 1.2 percent increase in revenue from operations for the current quarter at Rs 7,726 million as compared to Rs 7,633 million in Q1-17. Subscription and activation revenue increased 1.7 percent in Q1-18 to Rs 7,091 million from Rs 6,970 million in Q1-17. Adjusted EBIDTA was slightly lower in Q1-18 at Rs 2,485 million as compared to Rs 2,519 million in the corresponding year ago quarter. However, adjusted EBIDTA less capex in the current quarter increased substantially to Rs 1,246 million from Rs 887 million in Q1-17. Content costs in Q1-18 have increased to 42 percent of revenue as compared to 38.7 percent in Q1-17.

    The company added 0.13 million net subscribers in Q1-18, far lower than the 0.43 million added in Q1-17 and lower than the 0.14 million subscribers added in the immediate trailing quarter. Quarter-over-quarter average revenue per user (ARPU) was Rs 198 in Q1-18 as compared to Rs 211 in Q1-17 and Rs 196 in Q4-17. Monthly subscriber churn in Q1-8 was higher at 1.27 percent as compared to 0.49 percent and 0.87 percent in Q1-17 and Q4-17 respectively. Subscriber acquisition costs in the form of hardware subsidies were INR 1,865 per subscriber during the first quarter of Fiscal 2018.

    ALSO READ :

    Dish TV–D2H merger gets NCLT approval

    Madras HC to hear Star India’s rejoinder in TRAI challenge today

    Videocon d2h reports maiden annual net profit

  • Radio City reports higher numbers

    BENGALURU: India FM Radio company Music Broadcast Limited (MBL) or Radio City reported higher revenue and improved profits for the year ended 31 March 2017 (FY-17, current year and fiscal) as compared to the previous year. The company reported 14.8 percent higher total revenue for the current fiscal at Rs 2,758.6 million as compared to Rs 2,402.3 million in fiscal 2016. Total comprehensive income (TCI) for FY-17 increased 30.3 percent to Rs 355.5 million (13.1 percent of Total Income) from Rs 272.8 million ((11.4 percent of Total Income) in FY-16.

    MBL’s operating profit (EBIDTA inclusive of other income) in the current year increased 3 percent to Rs 956.7 million (35.2 percent of Total Income) from Rs 928.9 million (38.7 percent of Total Income) in the previous year. Profit after Tax or PAT in FY-17 increased 32.7 percent to Rs 366.6 million (13.5 percent of Total Income) from Rs 276.2 million (11.5 percent of Total Income) in FY-16.

    Total Expenditure in fiscal 2017 increased 18.5 percent to R 2,188.8 million (80.6 percent of Total Income) from Rs 1,847.2 million (76.9 percent of Total Income) in fiscal 2016. Other expense in FY-17 increased 21.3 percent to Rs 958.8 million (35.3 percent of Total Income) from Rs 790.6 million (32.9 (35.3 percent of Total Income) in FY-16.

    MBL paid 12 percent more towards license fees for FY-17 at Rs192.2 million (7.1 percent of Total Income) from Rs 171.6 million (7.1 percent of Total Income) in FY-16. Finance Costs in FY-17 declined 8 percent to Rs 190.1 million (7 percent of Total Income) from Rs 206.6 million (8.6 percent of Total Income) in FY-16. Employee Costs in the current year increased 27.3 percent to Rs 650.7 million (24 percent of Total Income) from Rs 511.2 million (21.3 percent of Total Income) in the previous year.

    The company has utilised Rs 1,475 million of its Rs 4,000 million that it received from its initial public offer (IPO) towards the objectives that it had listed in the IPO prospectus. Rs 177.3 million has been utilised for transaction costs of share issuance. The rest of the unutilised funds raised from the IPO to the extent of Rs 2,347.6 million have been placed in bank accounts as well as in bank fixed deposits.

  • Videocon d2h reports maiden annual net profit

    BENGALURU: Videocon d2h Limited (Videocon d2h) led by executive chairman Saurabh Dhoot reported its maiden annual net profit for the year ended 31 March 2017 (FY-17, current year or fiscal). Notwithstanding the effects of demonetization, overall, the company reported growth across important matrices including subscription and activation revenue, subscriber numbers and operating profits. Annual ARPU, despite declining within fiscal 2017 was flat as compared to the previous year.

    The company’s revenue from operations increased 7.6 percent to Rs 30,717.34 million in FY-17 from Rs 28,558.62 million in FY-16. The company’s consolidated profit after tax for the current year was Rs 304.42 million as compared to a loss of Rs 902.05 million in the previous year. Operating profit (adjusted EBIDTA, including other income) in the current year increased 27.1 percent in FY-17 to Rs 10,181 million. Adjusted EBIDTA less capex in FY-17 was Rs 3,932 million as compared to Rs 744 million in fiscal 2016.

    Net subscriber additions in the year were 1.05 million. The company closed fiscal 2017 with a net subscriber base of 12.91 million. The company reported 0.80 percent churn, slightly higher than the churn of 0.73 percent reported in the previous year. Average revenue per user (ARPU) for the current year came at Rs 207, same as the previous year. ARPU numbers for the four quarters of fiscal 2017 – Q1-17, Q2-17, Q3-17 and Q4-17 were Rs 211,Rs 209, Rs 205 and Rs 196 respectively. Average net EBIDTA per user increased to Rs 69 in FY-17 from Rs 61 in FY-16.

    Company speak

    Dhoot said, “I am excited to share that Fiscal 2017 has been a yet another landmark year for Videocon d2h, as the Company achieved net profit and free cash flow breakeven. The Company reported 27.1 percent year on year growth in EBITDA, despite moderation due to Government of India’s demonetization policy during the November 2016, which also coincided with the seasonally stronger second half. More importantly, our Adjusted EBITDA per subscriber per month grew a healthy 13.0 percent year on year to INR 69. This clearly demonstrates the strength of our business and our ability to monetize the subscribers we added in Phase III and Phase IV Digitization markets.

    During Fiscal 2017, we announced the scheme of amalgamation with Dish TV to create the fastest growing and the second largest pay TV company in the world, according to company estimates. We have now received the necessary approvals from the equity shareholders of Videocon d2h and the Competition Commission of India. The company has started working on an integration plan and has appointed Price Waterhouse Coopers, Deloitte and Aon Hewitt to work on post-merger integration along with the management of Videocon d2h and Dish TV India.”

    Speaking on the business outlook for the DTH sector, Videocon d2h CEO Anil Khera said: “There has been numerous industry developments during Fiscal 2017, which we believe will provide for growth opportunities in the DTH sector in India. Recently, the government shared information on the applicable Goods and Service Tax (GST) rate for DTH. The GST rate of 18 percent for DTH operators could reduce tax payments in Fiscal 2018 and beyond.”

    Other matrices

    The company’s content cost in fiscal 2017 increased in terms of percentage of revenue to 39.9 percent compared to 37.8 percent in FY-16. During the four quarters of the current year – Q1-17, Q2-17, Q3-17 and Q4-17, content costs as percentage of revenue were: 38.7 percent, 38.7 percent, 39.6 and 42.5 percent respectively.

    The company has invested Rs 6,249 million towards capacity expansion (capex) in FY-17 as compared to Rs 7,269 million in FY-16 and Rs 7,649 million in FY-15.

  • B. A. G. Films reports improved top and bottom lines

    BENGALURU: The Anurradha Prasad led B. A. G. Films and Media Limited (BAG Films) reported improved revenue and profit after tax (PAT) for the year ended 31 March 2017 (FY-17, current year or fiscal) as compared to fiscal 2016.

    Two of the company’s four segments – Television broadcasting and FM Radio reported increase in operating revenues and operating profits in the current year as compared to the previous year. Its Audio Visual production segment reported lower operating revenue and operating profits, while operating revenue and operating losses of its Leasing segment declined in fiscal 2017 as compared to fiscal 2016.

    The company’s income from operations or operating revenue increased 16.6 percent to Rs1,366.84 million in FY-17 to Rs 1,17241 million in the previous year. BAG Films reported PAT of Rs 8.43 million in FY-17 as compared to a loss of Rs 28.94 million in the previous year. Simple EBIDTA excluding other income increased 12.9 percent to Rs 319.34 million (23.4 percent of Operating Revnue) in FY-17 from Rs 282.76 million (24.1 percent of Operating Revenue).

    The company’s Total Expenses increased 13.1 percent to Rs 1,177.42 million (86.1 percent of Operating Revenue) in FY-17 from Rs 1,041.15 million (88.8 percent of Operating Revenue). Employee costs increased 4.3 percent in fiscal 2017 to Rs 209.90 million (15.3 percent of Operating Revenue) from Rs 200.35 million (17.1 percent of Operating Revenue) in the previous year. Other expenses increased 14.5 percent in FY-17 to Rs 814.64 million (59.6 percent of Operating Revenue) from Rs 711.52 million (60.7 percent of Operating Revenue) in FY-16. Finance costs increased 7.5 percent to Rs 163.5 million (12 percent of Operating Revenue) in the current year from Rs 152.16 million (13 percent of Operating Revenue) in the previous year.

    Segment Numbers

    BAG Films Television segment has three channels News 24, E24 and Darshan 24, while its Radio segment, Radio Dhamaal 24 operates 10 FM radio stations in the country.

    BAG Films biggest segment is its Television Broadcasting (TV) segment. TV segment’s operating revenue increased 22.9 percent in FY-17 to Rs1,126.05 million from Rs 916.56 million in FY-16. TV segment’s operating profit increased 33.2 percent in FY-17 to Rs 315.34 million from Rs 236.7 million in the previous fiscal.

    Audio Visual Production segment revenue for fiscal 2017 declined 20.3 percent to Rs 137.54 million from Rs 172.67 million in the previous fiscal. The segment’s operating revenue declined 42 percent to Rs 52.16 million from Rs 89.88 million in the previous year.

    FM Radio segment’s operating revenue increased 25.5 percent to Rs 100.75 million from Rs 80.26 million in the previous year. The segment’s operating profit more than doubled (increased by 2.5 times) to Rs 33.93 million from Rs 13.51 million.

    BAG Films Leasing segment revenue declined 14.1 percent in FY-17 to Rs 2.50 million from Rs 2.92 million in FY-16. Leasing segment operating loss reduced in FY-17 to Rs 31.97 million from a loss of Rs 38.38 million in the previous year.

    Also Read:

    Saluting India’s TV women

     

  • Siti revenue up across all streams

    BENGALURU: Siti Networks Limited (Siti) reported 4.4 percent growth in revenue for the year ended 31 March 2017 (FY-17, current year or fiscal) as compared to the previous fiscal. Consolidated revenue growth was driven by revenue growth in all the streams that contribute to Siti’s numbers. The company in its earnings release says that its broadband internet services revenue doubled to Rs 970 million, Subscription revenues grew 39 percent to Rs 5,690 million and Carriage revenues increased 17 percent to Rs 3,000 million in the current year vis-à-vis the previous year.

    Overall, Siti reported consolidated total income of Rs 12,208.01 million and Rs 11,691.56 million in the current and previous years respectively. Operating revenue in FY-17 grew 4.3 percent to Rs11,949.16 million from Rs 11,460.40 million in FY-16.

    The company says that it deployed more than 2.1 million set top boxes during the year despite the delay in implementation of phase 3 digitization due to litigation. It says that its digital video base was about 10 million at the exit of March 2017. Siti says that during the year 0.11 million of its customers adopted HD services taking the total HD customer base to 0.16 million by exit FY-17.

    Siti has bolstered its local channels content with tie-ups with Eros, Ultra, Cineprime, ADB Mobile and Entertainment and now has a portfolio of 130 plus local channels on a pan-India basis. It is also looking to add 7 to 8 new local channels for its North India viewers under certain genres and languages.

    The company says that Siti-Ditto OTT services grew strongly with the addition of 29,000 customers during the quarter – 1 January to 31 March 2017, taking the total customer base to 60,000.

    The company’s bottom line however showed some declines. Consolidated loss was higher at Rs 1,792.31 million in the current year as compared to a loss of Rs 412.91 million in the previous year. Consolidated EBIDTA including other revenue in fiscal 2017 at Rs 2,286.94 million (19.1 percent of Total Income) declined 15 percent from Rs 2,690.57 million (23.5 percent of Total Revenue).

    Company speak

    Siti executive director and CEO V D Wadhwa said: “Our tenacious execution has ensured stellar growth in our video revenue whereas broadband growth is falling short of our expectations. The management is highly committed towards improving monetization and operating profit across all phases, during the current year. We are well positioned to reap the benefits of improved monetization across phases as we simultaneously continue to expand our Broadband reach. The implementation of GST is expected to simplify the collection process, bring in greater transparency and will provide a boost to the growth of the sector.”

    Let us look at the other numbers reported by Siti

    Consolidated Total Expenditure increased 6.4 percent y-o-y to Rs 13,607.36 million (111.5 percent of Total Income) in FY-17 from Rs 12,054.82 million (103.1 percent of Total Income) in FY-16

    Consolidated Employee Benefit Expense increased 32 percent to Rs 832.90 million (6.8 percent of Total Income) in the current quarter from Rs 630.90 million (5.4 percent of Total Income) million in FY-16. 

    Consolidated Carriage sharing, pay channel and related costs in FY-17 increased 5 percent to Rs 5,971.33 million (48.9 percent of Total Income) from Rs 5,686.36 million (48.6 percent of Total Income) in the previous year.

    Consolidated Finance costs in the current year reduced 8.9 percent to Rs 1274.47 million (10.4 percent of Total Income) from Rs 1,399.29 million (12 percent of Total Income).

    Consolidated Other expenses increased 28.4 percent to Rs 2,954.67 million (24.2 percent of Total Income) in FY-17 from Rs 2,302.03 million (19.7 percent of Total Income) in FY-16.

  • Sun TV fiscal 2017 numbers grow

    BENGALURU: Sun TV Network Limited (Sun TV) reported improved numbers across all important parameters for the year ended 31 March 2017 (FY-17, current year, fiscal) as compared to the previous year (FY-16). Sun TV reported 8.1 percent higher consolidated total income in the current year at Rs 27,995.2 million as compared to Rs 25,899.7 million in FY-16. Operating revenue increased 7 percent to Rs 26,457.2 million in FY-17 from Rs 24,736.2 million in FY-16.

    On a standalone basis, the company says in its earnings release that subscription revenue at Rs 9,614.1 million was up 18 percent as against Rs 8,126.8 million in the previous year.

    The company’s profit after tax or PAT in FY-17 improved 11.7 percent to Rs 10,306.6 million (39 percent of Operating Revenue) as compared to Rs 9,223.1 million (37.3 percent of Operating Revenue) in FY-16.

    Sun TV EBIDTA in the current year was Rs 17,698.4million (66.9 percent of Operating Revenue), 2.1 percent higher as compared to Rs 17,327.4 million (70 percent of Operating revenue) in FY-16.

    Total Expenditure (TE) in the current year increased 3 percent to Rs 12,773.6 million (48.3 percent of Operating Revenue) as compared to Rs 12,397.9 million (50.1 percent of Operating Revenue) in the previous year.

    Operating expense in fiscal 2017 increased 19.3 percent to Rs 2,337.7 million (8.8 percent of Operating Revenue) from Rs 1,958.1 million in the previous year.

    Employee Benefits Expense in FY-17 increased 8.6 percent to Rs 2,562,7 million (9.7 percent of Operating Revenue) as compared to Rs 2,359.9 million (9.5 percent of TIO) in FY-16.

    Other expenses (OE) in the FY-17 was 13.8.percent more at Rs 2,381.2 million (9 percent of Operating Revenue) as compared to Rs 2,092.4 million (8.5 percent of Operating Revenue) in the previous year.

    Sun TV has paid franchisee fees for its IPL team Sun Risers Hyderabad (SRH) of Rs 85.48 million in Q1-17 as compared to Rs 85.05 million in the first quarter of FY-16.