ITV

Category: Financials

  • Demonetisation: UFO Moviez reports slight fall in results for Q3-17

    Demonetisation: UFO Moviez reports slight fall in results for Q3-17

    BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform, UFO Moviez Limited (UFO) reported a 5.2 percent year-over-year (y-o-y) growth in advertising revenue for the quarter ended 31 December 2016 (Q3-17, current quarter). The company reported advertising revenue of Rs 42.7 crore in Q3-17 as compared to Rs 40.6 crore in the corresponding quarter of the previous year (Q3-16). Average advertisement minutes sold per show per screen decreased to 3.88 minutes (Q3-16 – 4.36) minutes during Q3-17.

    Theatrical and In-Cinema advertisement (consolidated excluding new businesses) revenues grew by 2.5 percent y-o-y to Rs 147.3 crore (Q3-16 – Rs 143.7 crore). Consolidated revenues improved by 2.5 percent y-o-y in Q3-17 to Rs 148.8 crore (Q3-16 – Rs 145.2 crore).

    Indian digital cinema distribution network and in-cinema advertising platform, UFO Moviez Limited (UFO) had 2..7 percent year-over-year (y-o-y) decline in Earnings before interest depreciation and amortisation (EBIDTA, operating profit) for the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the corresponding year ago quarter. The company’s EBIDTA for Q3-17 was Rs 43.22 crore (34.6 percent of Total Income from Operations or TIO, margin), for Q3-16, it was Rs 44.42 crore (30.7 percent margin). EBIDTA including other income saw a 3.9 percent y-o-y fall in the current quarter to Rs 44.49 crore from Rs 46.30 crore

    Company speak on demonetisation

    “We believe that the decision to demonetise high denomination currency notes is a positive step to bolster the economy in the long run,” said UFO Moviez joint managing director Kapil Agarwal. “In the short-term, the media and entertainment sector is one of the most adversely impacted sectors. In this challenging environment, UFO demonstrated resilience and delivered growth in advertisement revenues. While demonetisation has slowed down growth in the second half of fiscal 2017 making it difficult to achieve our advertisement growth target, we are extremely confident of delivering on our long term growth plans.”

    “This is a positive set of results, both operationally and financially given the difficult market conditions, highlighting the strength of our business model,” said UFO Movies founder and managing director Sanjay Gaikwad. “Advertisement revenues achieved mid-single digit growth despite extreme pressure across sectors and dented advertising spends. We believe that the impact is transitory and the early signs of recovery are already visible. Going forward, re-monetisation along with the implementation of GST are expected to drive overall economic growth and UFO is well positioned to benefit from higher advertising spending by the government, corporates and hyperlocal advertisers.”

    Let us look at the other numbers reported by UFO Moviez

    Total Expense in Q3-17 increased 5.7 percent y-o-y to Rs 126.48 crore from Rs 119.62 crore in Q3-16. Ad revenue share (expense) in Q3-17 increased 10.7 percent y-o-y to Rs 12.90 crore from Rs 11.65 crore in the corresponding quarter of the previous year. Visual Print sharing expense in Q3-17 declined 4 percent y-o-y to Rs 17.47 crore from Rs 18.19 crore in Q3-16.

    The company’s expense towards purchase of digital cinema equipment and lamps in the current quarter declined 22.7 percent y-o-y to Rs 14.08 crore as compared to Rs 18.21 crore in Q3-16.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Demonetisation: UFO Moviez reports slight fall in results for Q3-17

    Demonetisation: UFO Moviez reports slight fall in results for Q3-17

    BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform, UFO Moviez Limited (UFO) reported a 5.2 percent year-over-year (y-o-y) growth in advertising revenue for the quarter ended 31 December 2016 (Q3-17, current quarter). The company reported advertising revenue of Rs 42.7 crore in Q3-17 as compared to Rs 40.6 crore in the corresponding quarter of the previous year (Q3-16). Average advertisement minutes sold per show per screen decreased to 3.88 minutes (Q3-16 – 4.36) minutes during Q3-17.

    Theatrical and In-Cinema advertisement (consolidated excluding new businesses) revenues grew by 2.5 percent y-o-y to Rs 147.3 crore (Q3-16 – Rs 143.7 crore). Consolidated revenues improved by 2.5 percent y-o-y in Q3-17 to Rs 148.8 crore (Q3-16 – Rs 145.2 crore).

    Indian digital cinema distribution network and in-cinema advertising platform, UFO Moviez Limited (UFO) had 2..7 percent year-over-year (y-o-y) decline in Earnings before interest depreciation and amortisation (EBIDTA, operating profit) for the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the corresponding year ago quarter. The company’s EBIDTA for Q3-17 was Rs 43.22 crore (34.6 percent of Total Income from Operations or TIO, margin), for Q3-16, it was Rs 44.42 crore (30.7 percent margin). EBIDTA including other income saw a 3.9 percent y-o-y fall in the current quarter to Rs 44.49 crore from Rs 46.30 crore

    Company speak on demonetisation

    “We believe that the decision to demonetise high denomination currency notes is a positive step to bolster the economy in the long run,” said UFO Moviez joint managing director Kapil Agarwal. “In the short-term, the media and entertainment sector is one of the most adversely impacted sectors. In this challenging environment, UFO demonstrated resilience and delivered growth in advertisement revenues. While demonetisation has slowed down growth in the second half of fiscal 2017 making it difficult to achieve our advertisement growth target, we are extremely confident of delivering on our long term growth plans.”

    “This is a positive set of results, both operationally and financially given the difficult market conditions, highlighting the strength of our business model,” said UFO Movies founder and managing director Sanjay Gaikwad. “Advertisement revenues achieved mid-single digit growth despite extreme pressure across sectors and dented advertising spends. We believe that the impact is transitory and the early signs of recovery are already visible. Going forward, re-monetisation along with the implementation of GST are expected to drive overall economic growth and UFO is well positioned to benefit from higher advertising spending by the government, corporates and hyperlocal advertisers.”

    Let us look at the other numbers reported by UFO Moviez

    Total Expense in Q3-17 increased 5.7 percent y-o-y to Rs 126.48 crore from Rs 119.62 crore in Q3-16. Ad revenue share (expense) in Q3-17 increased 10.7 percent y-o-y to Rs 12.90 crore from Rs 11.65 crore in the corresponding quarter of the previous year. Visual Print sharing expense in Q3-17 declined 4 percent y-o-y to Rs 17.47 crore from Rs 18.19 crore in Q3-16.

    The company’s expense towards purchase of digital cinema equipment and lamps in the current quarter declined 22.7 percent y-o-y to Rs 14.08 crore as compared to Rs 18.21 crore in Q3-16.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:
    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.
    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q3-17: Jio affects Airtel revenue; Digital TV segment numbers up

    Q3-17: Jio affects Airtel revenue; Digital TV segment numbers up

    BENGALURU: Indian telecom major Bharti Airtel Limited (Airtel) reported 3 percent decline in total revenue for the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the corresponding year ago quarter. The drop was partially affected by a drop in revenue due to divestments of its Africa operating units, tower assets sale and merger of Bangladesh operations. However, like in the previous quarter, Reliance Jio’s entry has resulted in a drop in the company’s India mobile revenues which contribute a lion’s share to overall revenue.

    Airtel MD and CEO of India and South Asia regions Gopal Vittal said, “The quarter has seen turbulence due to the continued predatory pricing by a new operator. The present termination costs at 14 paise which are well below cost has resulted in a tsunami of minutes terminating into our network. This has led to an unprecedented year on year revenue decline for the industry, pressure on margins and a serious impact on the financial health of the sector. At the same time our commitment to provide a superior experience to our customers has led to revenue market share crossing a lifetime high of 33 percent. Airtel revenues grew by 1.8 percent Y-o-Y and our non-mobile businesses continue to grow at a healthy clip and now contribute a sizable 24 percent of our total revenues.”

    In consonance with Vittal statement, Airtel’s Digital TV Services segment (DTH segment) reported 17.7 percent year-over-year (y-o-y) increase in operating revenues for the quarter ended 31 December 2016 (Q3-17, current quarter). Also, Operating Profit (Earnings Before interest and Tax – EBIT) of the DTH segment in the current quarter increased 27.1 percent year-over-year (y-o-y).

    Airtel DTH reported revenues of Rs 873.5 crore in Q3-17 and Rs 742.2 crore in Q3-16. EBIT for the corresponding periods was Rs 68.4 crore (7.8 percent margin of the segment’s operating revenue) and Rs 53.8 crore (7.2 percent margin of the segment’s operating revenue), respectively.

    EBIDTA in Q3-17 also increased y-o-y – by 22.3 percent to Rs 302.6 crore (34.6 percent margin of the segment’s operating revenue) in the current quarter from Rs 247.4 crore (33.3 percent margin of the segment’s operating revenue).

    Subscription numbers, ARPU

    Airtel’s DTH segment added 14.82 lakh subscribers between Q3-16 and Q3-17, or a 17.3 percent y-o-y increase. It had 125.88 lakh subscribers as on 31 December 2016. Q-o-q, the segment witnessed a 1.5 percent growth (1.83 lakh adds) in subscribers from 124.05 lakh in Q2-17.

    ARPU in Q3-17 increased to Rs 232 from Rs 229 in the corresponding year ago quarter, but remained flat q-o-q as compared to the immediate trailing quarter.

    Airtel numbers

    Bharti Airtel Limited saw a 3 percent decline in operating revenue to Rs 23335.7crore in Q3-17 as compared to Rs 24065.9 crore in Q3-16.. Profit after tax (PAT) in the current quarter declined to less than half (declined by 54.5 percent) y-o-y to Rs 504 crore (2.2 percent margin) from Rs 1,108 crore (4.6 percent margin). The company attributes decline in profits to net interest costs of Rs 1,810 crore that have risen from Rs 1,360 crore in the corresponding quarter last year largely due to increased spectrum related interest costs. Further, forex and derivative losses for the quarter came in at Rs 126 crore compared to Rs 57 crore in the corresponding quarter last year as well as exceptional items net losses of Rs 114 crore.

  • Q3-17: Jio affects Airtel revenue; Digital TV segment numbers up

    Q3-17: Jio affects Airtel revenue; Digital TV segment numbers up

    BENGALURU: Indian telecom major Bharti Airtel Limited (Airtel) reported 3 percent decline in total revenue for the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the corresponding year ago quarter. The drop was partially affected by a drop in revenue due to divestments of its Africa operating units, tower assets sale and merger of Bangladesh operations. However, like in the previous quarter, Reliance Jio’s entry has resulted in a drop in the company’s India mobile revenues which contribute a lion’s share to overall revenue.

    Airtel MD and CEO of India and South Asia regions Gopal Vittal said, “The quarter has seen turbulence due to the continued predatory pricing by a new operator. The present termination costs at 14 paise which are well below cost has resulted in a tsunami of minutes terminating into our network. This has led to an unprecedented year on year revenue decline for the industry, pressure on margins and a serious impact on the financial health of the sector. At the same time our commitment to provide a superior experience to our customers has led to revenue market share crossing a lifetime high of 33 percent. Airtel revenues grew by 1.8 percent Y-o-Y and our non-mobile businesses continue to grow at a healthy clip and now contribute a sizable 24 percent of our total revenues.”

    In consonance with Vittal statement, Airtel’s Digital TV Services segment (DTH segment) reported 17.7 percent year-over-year (y-o-y) increase in operating revenues for the quarter ended 31 December 2016 (Q3-17, current quarter). Also, Operating Profit (Earnings Before interest and Tax – EBIT) of the DTH segment in the current quarter increased 27.1 percent year-over-year (y-o-y).

    Airtel DTH reported revenues of Rs 873.5 crore in Q3-17 and Rs 742.2 crore in Q3-16. EBIT for the corresponding periods was Rs 68.4 crore (7.8 percent margin of the segment’s operating revenue) and Rs 53.8 crore (7.2 percent margin of the segment’s operating revenue), respectively.

    EBIDTA in Q3-17 also increased y-o-y – by 22.3 percent to Rs 302.6 crore (34.6 percent margin of the segment’s operating revenue) in the current quarter from Rs 247.4 crore (33.3 percent margin of the segment’s operating revenue).

    Subscription numbers, ARPU

    Airtel’s DTH segment added 14.82 lakh subscribers between Q3-16 and Q3-17, or a 17.3 percent y-o-y increase. It had 125.88 lakh subscribers as on 31 December 2016. Q-o-q, the segment witnessed a 1.5 percent growth (1.83 lakh adds) in subscribers from 124.05 lakh in Q2-17.

    ARPU in Q3-17 increased to Rs 232 from Rs 229 in the corresponding year ago quarter, but remained flat q-o-q as compared to the immediate trailing quarter.

    Airtel numbers

    Bharti Airtel Limited saw a 3 percent decline in operating revenue to Rs 23335.7crore in Q3-17 as compared to Rs 24065.9 crore in Q3-16.. Profit after tax (PAT) in the current quarter declined to less than half (declined by 54.5 percent) y-o-y to Rs 504 crore (2.2 percent margin) from Rs 1,108 crore (4.6 percent margin). The company attributes decline in profits to net interest costs of Rs 1,810 crore that have risen from Rs 1,360 crore in the corresponding quarter last year largely due to increased spectrum related interest costs. Further, forex and derivative losses for the quarter came in at Rs 126 crore compared to Rs 57 crore in the corresponding quarter last year as well as exceptional items net losses of Rs 114 crore.

  • Demonetisation impacts ZEEL ad revenue for Q3-17

    Demonetisation impacts ZEEL ad revenue for Q3-17

    BENGALURU: The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (ZEEL) reported a small hike of 3.1 percent in advertisement revenue in the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the corresponding quarter of the previous year (Q3-16). Consolidated revenue from operations (Total Income from Operations or TIO) increased 3.2 percent year-over-year. Though subscription revenue increased 13.7 percent y-o-y, other sales and services declined 35.5 percent and hence pulled down TIO. ZEEL reported consolidated TIO of Rs 1,639.12 crore in Q3-17 as compared to Rs 1,588.12 crore in Q2-16.

    Ad revenue in the current quarter was Rs 945.45 crore (58.3 percent of TIO) as compared to Rs 926.39 crore (58.3 percent of TIO) in Q316. Subscription Income in Q3-17 was Rs 593.46 crore (36.2 percent of TIO) and in Q3-16, it was Rs 521.79 crore (32.8 percent of TIO) Other Sales and Services Income in the current quarter was Rs 90.21 crore (5.5 percent of TIO) as compared to Rs 139.94 crore (8.8 percent of TIO) in Q3-16.

    ZEEL chairman Chandra said, “Government’s decision to demonetise high value currency had an impact on businesses across sectors. Notwithstanding the short term disruption caused by demonetisation, we believe that it is a step in the right direction. Demonetisation along with implementation of GST and push towards cashless economy would help country’s long term growth.”

    ZEEL’s Profit After Tax (PAT) in Q3-17 increased 8.6 percent y-o-y to Rs 250.81 crore (15.3 percent of TIO or margin) from Rs 230.86 crore (14.5 percent margin). Operating Profit (EBIDTA) in the current quarter also increased 19.4 percent y-o-y to Rs 515.79 crore (31.5 percent margin) from Rs 432.16 crore (27/2 percent margin).

    Total Expenditure in Q3-17 reduced 2.4 percent to Rs 1,148.23 crore (70.1 percent of TIO) from Rs 1,176.31 crore (74.1 percent of TIO) in Q3-16.

    Finance costs in the current quarter reduced 14.7 percent y-o-y to Rs 9.02 crore (0.6 percent of TIO) from Rs 10.57 crore (0.7 percent of TIO) in the corresponding year ago quarter.

    Employee benefit expense in Q3-17 increased 13.2 percent to Rs 141.88 crore (8/7 percent of TIO) from Rs 125.34 crore (7.9 percent of TIO) in Q3-16.

    The company spent 12.4 percent less towards Advertising and Publicity expense in the current quarter at Rs 104.90 crore (6.4 percent of TIO) as compared to Rs 119.75 crore (7.5 percent of TIO) in Q3-16.

    Company speak

    Chandra said further, “The result once again demonstrates our commitment towards profitable growth and enhancing shareholders’ wealth. Despite the impact of demonetisation, we have delivered growth in advertising revenues and growth in subscription revenues remained strong. We believe the adverse impact of demonetisation is transient and with a strong portfolio of national and regional channels we are confident of delivering sustainable growth.”

    ZEEL managing director and CEO Punit Goenka said, “We are happy to deliver another quarter of strong profit growth in a challenging environment. Despite the impact of demonetisation on our advertising revenues, we have improved our EBITDA margins. This highlights our ability to manage costs to drive profitable growth on a consistent basis.”

    Gonka revealed, “Acquisition of broadcasting business of RBNL is in line with our strategy to expand our offering in key genres and focus on regional space. BIG Magic, a comedy channel, will complement our Hindi GEC portfolio. BIG Ganga, the leading Bhojpuri channel, will give us entry into the attractive Bhojpuri market. We are confident that these two channels will benefit immensely from the strength of our network.”

    Goenka informed, “The deceleration in our advertising revenue growth during the quarter is largely attributable to demonetisation. Advertisers’ willingness to invest in their brands remains intact. However, the timing of spends has been re-calibrated to an extent to suit the change in dynamics due to demonetisation. As economic situation is normalizing, ad spends have already started moving up from December levels.”

    International Business

    In its earnings release, ZEEL said that its international business continues to perform strongly driven by global demand for our products. For Q3-17 the international business had total revenue of Rs 253 crore which included Advertisement Revenue of Rs 81.70 crore; subscription Revenue of Rs 111.7 core and  other Sales and Services of Rs 59.6 crore.

    Note: (1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) All numbers in this report are consolidated unless stated otherwise.

    (3) Some of the numbers have been rounded off

  • Demonetisation impacts ZEEL ad revenue for Q3-17

    Demonetisation impacts ZEEL ad revenue for Q3-17

    BENGALURU: The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (ZEEL) reported a small hike of 3.1 percent in advertisement revenue in the quarter ended 31 December 2016 (Q3-17, current quarter) as compared to the corresponding quarter of the previous year (Q3-16). Consolidated revenue from operations (Total Income from Operations or TIO) increased 3.2 percent year-over-year. Though subscription revenue increased 13.7 percent y-o-y, other sales and services declined 35.5 percent and hence pulled down TIO. ZEEL reported consolidated TIO of Rs 1,639.12 crore in Q3-17 as compared to Rs 1,588.12 crore in Q2-16.

    Ad revenue in the current quarter was Rs 945.45 crore (58.3 percent of TIO) as compared to Rs 926.39 crore (58.3 percent of TIO) in Q316. Subscription Income in Q3-17 was Rs 593.46 crore (36.2 percent of TIO) and in Q3-16, it was Rs 521.79 crore (32.8 percent of TIO) Other Sales and Services Income in the current quarter was Rs 90.21 crore (5.5 percent of TIO) as compared to Rs 139.94 crore (8.8 percent of TIO) in Q3-16.

    ZEEL chairman Chandra said, “Government’s decision to demonetise high value currency had an impact on businesses across sectors. Notwithstanding the short term disruption caused by demonetisation, we believe that it is a step in the right direction. Demonetisation along with implementation of GST and push towards cashless economy would help country’s long term growth.”

    ZEEL’s Profit After Tax (PAT) in Q3-17 increased 8.6 percent y-o-y to Rs 250.81 crore (15.3 percent of TIO or margin) from Rs 230.86 crore (14.5 percent margin). Operating Profit (EBIDTA) in the current quarter also increased 19.4 percent y-o-y to Rs 515.79 crore (31.5 percent margin) from Rs 432.16 crore (27/2 percent margin).

    Total Expenditure in Q3-17 reduced 2.4 percent to Rs 1,148.23 crore (70.1 percent of TIO) from Rs 1,176.31 crore (74.1 percent of TIO) in Q3-16.

    Finance costs in the current quarter reduced 14.7 percent y-o-y to Rs 9.02 crore (0.6 percent of TIO) from Rs 10.57 crore (0.7 percent of TIO) in the corresponding year ago quarter.

    Employee benefit expense in Q3-17 increased 13.2 percent to Rs 141.88 crore (8/7 percent of TIO) from Rs 125.34 crore (7.9 percent of TIO) in Q3-16.

    The company spent 12.4 percent less towards Advertising and Publicity expense in the current quarter at Rs 104.90 crore (6.4 percent of TIO) as compared to Rs 119.75 crore (7.5 percent of TIO) in Q3-16.

    Company speak

    Chandra said further, “The result once again demonstrates our commitment towards profitable growth and enhancing shareholders’ wealth. Despite the impact of demonetisation, we have delivered growth in advertising revenues and growth in subscription revenues remained strong. We believe the adverse impact of demonetisation is transient and with a strong portfolio of national and regional channels we are confident of delivering sustainable growth.”

    ZEEL managing director and CEO Punit Goenka said, “We are happy to deliver another quarter of strong profit growth in a challenging environment. Despite the impact of demonetisation on our advertising revenues, we have improved our EBITDA margins. This highlights our ability to manage costs to drive profitable growth on a consistent basis.”

    Gonka revealed, “Acquisition of broadcasting business of RBNL is in line with our strategy to expand our offering in key genres and focus on regional space. BIG Magic, a comedy channel, will complement our Hindi GEC portfolio. BIG Ganga, the leading Bhojpuri channel, will give us entry into the attractive Bhojpuri market. We are confident that these two channels will benefit immensely from the strength of our network.”

    Goenka informed, “The deceleration in our advertising revenue growth during the quarter is largely attributable to demonetisation. Advertisers’ willingness to invest in their brands remains intact. However, the timing of spends has been re-calibrated to an extent to suit the change in dynamics due to demonetisation. As economic situation is normalizing, ad spends have already started moving up from December levels.”

    International Business

    In its earnings release, ZEEL said that its international business continues to perform strongly driven by global demand for our products. For Q3-17 the international business had total revenue of Rs 253 crore which included Advertisement Revenue of Rs 81.70 crore; subscription Revenue of Rs 111.7 core and  other Sales and Services of Rs 59.6 crore.

    Note: (1) The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

    (2) All numbers in this report are consolidated unless stated otherwise.

    (3) Some of the numbers have been rounded off

  • Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    BENGALURU: The Mukesh D Ambani led Reliance Industries Limited (RIL) organized retail segment – Reliance Retail,  continued its growth momentum and profitability in the quarter ended 31 December 2016 (Q3-17, current quarter), while its digital services offering Jio has broken all records in terms of subscriber acquisition.

    The RIL earnings release for Q3-17 says that Jio has created a world record by crossing 5 crore (50 million) subscribers in 83 days of operations. The company says that this subscriber addition rate is the fastest achieved by any company in the world including the likes of Facebook, WhatsApp and Skype. It says further that Jio continues its rapid ramp up of subscriber base and as of 31 December 2016, in less than 4 months from commencement of services, there were 7.24 crore or 72.4 million subscribers on the network.

    Ambani, said, “I am also delighted by our country’s eagerness to adopt to a digital life as witnessed by the record breaking launch of Jio. Its comprehensive ecosystem has enabled millions of Indians to lead a richer life through its offerings.”

    Organised Retail

    RIL’s Organised Retail segment revenue in the current quarter increased 47.2 percent year-over-year (y-o-y) to Rs 8,688 crore as compared to Rs 5,901 crore and increased 7.5 percent quarter-over-quarter (q-o-q) from Rs 8,079 crore. 

    The segment’s EBIT increased 55 percent y-o-y to Rs 231 crore from Rs 149 crore and increased 42.6 percent q-o-q from Rs 162 crore.

    The company says that overall impact from demonetization has been positive for core retail business with favourable long-term implications for modern trade. It says further that according to Nielsen, Reliance Fresh and Smart stores grew faster than the modern trade during the demonetization period and its share of trade went up from 26.2 percent pre demonetization to 27.8 percent post demonetization

    RIL says that during the quarter, Reliance Retail added 111 stores across various store concepts. As on 31 December 2016, Reliance Retail operated 3,553 stores across 686 cities with an area of over 13.25 million square feet.

    RIL numbers

    RIL achieved a turnover of 84,189 crore ($ 12.4 billion), an increase of 16.1 percent, as compared to Rs 72,513 crorein the corresponding period of the previous year. The company says that increase in revenue is primarily on account of increase in prices of refining and petrochemical products led by 13 percent increase in Brent crude prices. Turnover was also boosted by robust growth in retail business.

    Operating profit before other income and depreciation increased by 2.7 percent on a y-o-y basis to Rs 11,552 crore ($ 1.7 billion) from Rs 11,248 crore in the previous year. The company attribute the growth to strong operating performance from petrochemicals businesses, sustained strength in refining business and favourable exchange rate movement. This was partially offset by losses in Oil & Gas business due to lower volumes and weak domestic price environment.

    Profit after tax was higher by 3.6 percent at Rs 7,506 crore ($ 1.1 billion) as against Rs 7,245 crore in the corresponding period of the previous year. 

    Basic earnings per share (EPS) excluding exceptional items for the quarter ended 30th September 2016 was Rs 25.4 as against Rs 24.6 in the corresponding period of the previous year.

    Note:The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    Q3-17: Reliance: Jio busts records, organized retail op profit grows 55 percent

    BENGALURU: The Mukesh D Ambani led Reliance Industries Limited (RIL) organized retail segment – Reliance Retail,  continued its growth momentum and profitability in the quarter ended 31 December 2016 (Q3-17, current quarter), while its digital services offering Jio has broken all records in terms of subscriber acquisition.

    The RIL earnings release for Q3-17 says that Jio has created a world record by crossing 5 crore (50 million) subscribers in 83 days of operations. The company says that this subscriber addition rate is the fastest achieved by any company in the world including the likes of Facebook, WhatsApp and Skype. It says further that Jio continues its rapid ramp up of subscriber base and as of 31 December 2016, in less than 4 months from commencement of services, there were 7.24 crore or 72.4 million subscribers on the network.

    Ambani, said, “I am also delighted by our country’s eagerness to adopt to a digital life as witnessed by the record breaking launch of Jio. Its comprehensive ecosystem has enabled millions of Indians to lead a richer life through its offerings.”

    Organised Retail

    RIL’s Organised Retail segment revenue in the current quarter increased 47.2 percent year-over-year (y-o-y) to Rs 8,688 crore as compared to Rs 5,901 crore and increased 7.5 percent quarter-over-quarter (q-o-q) from Rs 8,079 crore. 

    The segment’s EBIT increased 55 percent y-o-y to Rs 231 crore from Rs 149 crore and increased 42.6 percent q-o-q from Rs 162 crore.

    The company says that overall impact from demonetization has been positive for core retail business with favourable long-term implications for modern trade. It says further that according to Nielsen, Reliance Fresh and Smart stores grew faster than the modern trade during the demonetization period and its share of trade went up from 26.2 percent pre demonetization to 27.8 percent post demonetization

    RIL says that during the quarter, Reliance Retail added 111 stores across various store concepts. As on 31 December 2016, Reliance Retail operated 3,553 stores across 686 cities with an area of over 13.25 million square feet.

    RIL numbers

    RIL achieved a turnover of 84,189 crore ($ 12.4 billion), an increase of 16.1 percent, as compared to Rs 72,513 crorein the corresponding period of the previous year. The company says that increase in revenue is primarily on account of increase in prices of refining and petrochemical products led by 13 percent increase in Brent crude prices. Turnover was also boosted by robust growth in retail business.

    Operating profit before other income and depreciation increased by 2.7 percent on a y-o-y basis to Rs 11,552 crore ($ 1.7 billion) from Rs 11,248 crore in the previous year. The company attribute the growth to strong operating performance from petrochemicals businesses, sustained strength in refining business and favourable exchange rate movement. This was partially offset by losses in Oil & Gas business due to lower volumes and weak domestic price environment.

    Profit after tax was higher by 3.6 percent at Rs 7,506 crore ($ 1.1 billion) as against Rs 7,245 crore in the corresponding period of the previous year. 

    Basic earnings per share (EPS) excluding exceptional items for the quarter ended 30th September 2016 was Rs 25.4 as against Rs 24.6 in the corresponding period of the previous year.

    Note:The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR).The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • TV Today to reorganise tabloid and radio business

    TV Today to reorganise tabloid and radio business

    BENGALURU: TV Today Network Limited (TVTN) has informed the bourses that its board of directors has inter-alia approved the acquisition of equity shares of Mail Today Newspapers Private Limited (Mail Today) from its other shareholders and to reorganise its radio business subject to the requisite approvals.

    Mail Today

    TVTN says that Mail Today is of strategic importance to it and can be of great value in the future. Living Media India Limited (LMIL) holds 66.78 percent of the equity shares through its wholly owned subsidiary India Today Online Private Limited (ITOPL), while AN (Mauritius) Limited holds 25.21 percent of the equity shares of Mail Today. Both the entities will transfer the shares to TVTN as a gift so that Mail Today becomes a wholly owned subsidiary of the company. TVTN has valued the equity shares held by ITOPL at Rs 26.80 crore and those held by AN (Mauritius) Limited at Rs 10.12 crore. TVTN says that the fair value loss under IND AS in connection with investment in Mail Today shares presently held by the company amounted to Rs 42.30 crore.

    Mail Today has an authorised share capital of Rs 135 crore, out of which Rs129.09 crore is the paid up capital. It had turnover of Rs 40.43 crore and profit after tax of Rs 6.01 crore for FY-15-16.

    Radio Business

    The TVTN board of directors have approved the acquisition of 100 percent the paid-up capital of Vibgyor Broadcasting Private Limited (VBPL) for the purpose of re-organising its radio business by transferring its radio business through slump sale to VBPL. The price at which the transfer is to take place will be decided at the next board meeting.

    TVTN says that the transfer of the radio business into a separate company is being done to segregate the radio business operations and to have better focused management for the same and enhance the business value in the subsidiary.

    It may be recalled that TVTN has been partially successful in selling off a few of its radio stations to Entertainment Network India Limited (ENIL, Radio Mirchi) of the Bennet Coleman group and has also recently signed ENIL on to hawk ads for its three remaining stations. Permission to sell the remaining three stations to ENIL has been denied by the MIB.

  • TV Today to reorganise tabloid and radio business

    TV Today to reorganise tabloid and radio business

    BENGALURU: TV Today Network Limited (TVTN) has informed the bourses that its board of directors has inter-alia approved the acquisition of equity shares of Mail Today Newspapers Private Limited (Mail Today) from its other shareholders and to reorganise its radio business subject to the requisite approvals.

    Mail Today

    TVTN says that Mail Today is of strategic importance to it and can be of great value in the future. Living Media India Limited (LMIL) holds 66.78 percent of the equity shares through its wholly owned subsidiary India Today Online Private Limited (ITOPL), while AN (Mauritius) Limited holds 25.21 percent of the equity shares of Mail Today. Both the entities will transfer the shares to TVTN as a gift so that Mail Today becomes a wholly owned subsidiary of the company. TVTN has valued the equity shares held by ITOPL at Rs 26.80 crore and those held by AN (Mauritius) Limited at Rs 10.12 crore. TVTN says that the fair value loss under IND AS in connection with investment in Mail Today shares presently held by the company amounted to Rs 42.30 crore.

    Mail Today has an authorised share capital of Rs 135 crore, out of which Rs129.09 crore is the paid up capital. It had turnover of Rs 40.43 crore and profit after tax of Rs 6.01 crore for FY-15-16.

    Radio Business

    The TVTN board of directors have approved the acquisition of 100 percent the paid-up capital of Vibgyor Broadcasting Private Limited (VBPL) for the purpose of re-organising its radio business by transferring its radio business through slump sale to VBPL. The price at which the transfer is to take place will be decided at the next board meeting.

    TVTN says that the transfer of the radio business into a separate company is being done to segregate the radio business operations and to have better focused management for the same and enhance the business value in the subsidiary.

    It may be recalled that TVTN has been partially successful in selling off a few of its radio stations to Entertainment Network India Limited (ENIL, Radio Mirchi) of the Bennet Coleman group and has also recently signed ENIL on to hawk ads for its three remaining stations. Permission to sell the remaining three stations to ENIL has been denied by the MIB.