ITV

Category: Financials

  • FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    BENGALURU:  Hinduja Ventures Limited (HVL) reported more than triple the standalone revenue for the year ended 31 March 2016 (FY-16, current year) at Rs 332.49 crore as compared to Rs 110.45 crore in the previous year. The net profit for the year on grew 8.6 percent to Rs 100.59 crore as compared to Rs 92.59 crore in the previous year. The company attributes the increase in revenue to sale of set top boxes.

    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.

    For the quarter ended 31 March 2016 (Q4-16, current quarter), HVL reported standalone revenue was Rs 93.75 crore as compared to Rs 22.45 crore in the corresponding year ago quarter. PAT for the current quarter declined 20.3 percent year-over-year to Rs 14.18 crore as compared to Rs 17.78 crore in Q4-15.

    Consolidated total income for the year ended was Rs. 679.98 crore EBITA was Rs. 125.79 crore and net loss of Rs. 81.21 crore.

    The HVL board has considered and recommended the Interim dividend of 175 percent on face value of Rs. 10/- per share translating into Rs. 17.50/- per share for the financial year 2015-2016 declared on March 14, 2016 as final dividend.

     

  • FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    FY-16: STB sale triples Hinduja Ventures standalone revenue, PAT up 8.6 percent

    BENGALURU:  Hinduja Ventures Limited (HVL) reported more than triple the standalone revenue for the year ended 31 March 2016 (FY-16, current year) at Rs 332.49 crore as compared to Rs 110.45 crore in the previous year. The net profit for the year on grew 8.6 percent to Rs 100.59 crore as compared to Rs 92.59 crore in the previous year. The company attributes the increase in revenue to sale of set top boxes.

    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.

    For the quarter ended 31 March 2016 (Q4-16, current quarter), HVL reported standalone revenue was Rs 93.75 crore as compared to Rs 22.45 crore in the corresponding year ago quarter. PAT for the current quarter declined 20.3 percent year-over-year to Rs 14.18 crore as compared to Rs 17.78 crore in Q4-15.

    Consolidated total income for the year ended was Rs. 679.98 crore EBITA was Rs. 125.79 crore and net loss of Rs. 81.21 crore.

    The HVL board has considered and recommended the Interim dividend of 175 percent on face value of Rs. 10/- per share translating into Rs. 17.50/- per share for the financial year 2015-2016 declared on March 14, 2016 as final dividend.

     

  • Q2-16: Disney income up 10 percent aided by ESPN performance, studio entertainment

    Q2-16: Disney income up 10 percent aided by ESPN performance, studio entertainment

    BENGALURU: The Walt Disney Company Inc (Disney) reported 9.8 percent year-over-year (y-o-y) increase in operating income for the quarter ended 2 April 2016 (Q2-16, current quarter) as compared to the corresponding year ago quarter. Operating income in the current quarter was $3,822 million as compared to $3,482 million in Q2-15 (quarter ended 28 March 2015).

    The company saw an increase of $340 million in operating income in its current quarter vis-à-vis the corresponding prior year quarter. Its Media Networks segment reported operating income of $198 million, while its Studio Entertainment segment reported operating income of $115 million.
    Disney’s Media Networks segment’s sub-segment Cable Networks of which ESPN is a part saw 12.3 percent y-o-y increase in operating income. The increase at ESPN was partially offset by lower equity income from A&E Television Networks says Disney.

    Disney reported 4.1 percent y-o-y growth in revenue in Q2-16 at $12,969 million as compared to $12,461 million in the corresponding prior year quarter. Growth in revenue of $508 million was contributed to by $168 million and $377 million growth by Disney’s ‘Parks & Resorts’ and ‘Studio Entertainment’ segments respectively.

    Company speak

    “We’re very pleased with our overall results in Q2, which marks our 11th consecutive quarter of double-digit growth in adjusted EPS,” said Disney chairman and CEO Robert A. Iger. “Our Studio’s unprecedented winning streak at the box office underscores the incredible appeal of our branded content, which we continue to leverage across the entire company to drive significant value. Looking forward, we are thrilled with the Studio’s slate and tremendously excited about the June 16th grand opening of the spectacular Shanghai Disney Resort.”

    Segment numbers excerpts

    Media Networks

    Media Networks revenue in Q2-16 was relatively flat y-o-y (declined 0.3 percent) at $5,793 million as compared to $5,810 million in Q2-15. The  segment’s operating income increased 9.4 percent y-o-y to $2,299 million in the current quarter from $2,101 million during the corresponding prior year quarter.

    Disney Media Networks segment has two sub-segments – Cable Networking and Broadcasting.

    Cable Networks revenue for the quarter decreased 1.9 percent y-o-y to $3,955 billion from $4,030 million in Q2-15. Operating income in Q2-16 increased 12.3 percent y-o-y to $2,021 million from $1,799 million due to an increase at ESPN, partially offset by lower equity income from A&E. 

    The increase at ESPN was due to the benefit of lower programming costs and higher affiliate revenues, partially offset by a decrease in advertising revenue.

    Lower equity income from A&E was due to a decrease in advertising revenue, higher programming costs and a negative impact from the conversion of the H2 channel to Viceland as Viceland is in a start-up phase says Disney.

    Broadcasting revenue for the quarter increased 3.3 percent to $1,838 million from $1,780 million. Operating income of the sub-segment decreased 7.9 percent y-o-y to $278 million from $302 million due to lower operating income from program sales and higher programming and marketing costs, partially offset by advertising and affiliate revenue growth. Lower operating income from program sales was due to a significant SVOD sale in the prior-year quarter and a higher cost mix of programs sold in the current quarter. 

    The increase in programming costs was due to a higher average cost of new scripted programming and increased program cost write-offs. The increase in network advertising revenue was due to higher rates, partially offset by lower ratings. Affiliate revenue growth was primarily due to contractual rate increases.

    Parks and Resorts

    Parks and Resorts revenue for the current quarter increased 4.5 percent y-oy- to $3,928 million from $3.760 million. Segment operating income in Q2-16 increased 10.2 percent y-o-y to $624 million from $566 million. Operating income growth for the quarter was due to an increase at Disney’s domestic operations, partially offset by a decrease at its international operations.

    Studio Entertainment

    Studio Entertainment revenue for the current quarter increased 22.4 percent to $2,062 million from $1,685 million in Q2-15. Segment operating income increased 26.9 percent to $542 million from $427 million. 

    Disney says that higher operating income was due to an increase in theatrical distribution results and growth in TV/SVOD distribution, partially offset by the impact of foreign currency translation due to the strengthening of the US dollar against major currencies, decreased home entertainment results and higher film cost impairments.

    The increase in theatrical distribution results was due to the strong performance of Star Wars: The Force Awakens and Zootopia in the current quarter compared to the continuing performance in the prior year quarter of Big Hero 6 and Into the Woods, both of which were released domestically in the first quarter of the prior year. Higher TV/SVOD distribution results were driven by international growth. The decrease in home entertainment results was primarily due to lower unit sales reflecting the performance of Big Hero 6, Frozen and Marvel’s Guardians of the Galaxy in the prior-year quarter compared to The Good Dinosaur, Inside Out and Marvel’s Ant-Man in the current quarter. The decrease from lower unit sales was partially offset by the benefit from Star Wars Classic titles that are distributed by a third party.

    Consumer Products & Interactive Media

    Consumer Products & Interactive Media revenue for the current quarter decreased 1.7 percent to $1,186 million from $1,286 million. Segment operating income decreased 8 percent to $357 million from $388 million. 

    Lower operating income was primarily due to the impact of foreign currency translation due to the strengthening of the U.S. dollar against major currencies, lower operating margins and comparable store sales at Disney’s retail business and lower results for Infinity. 

    These decreases were partially offset by higher licensing revenues. Increased licensing revenues were driven by higher revenue from Star Wars  merchandise, partially offset by an adverse impact from the timing of minimum guarantee shortfall recognition and a decrease in revenue from merchandise based on Frozen.

     

  • Q2-16: Disney income up 10 percent aided by ESPN performance, studio entertainment

    Q2-16: Disney income up 10 percent aided by ESPN performance, studio entertainment

    BENGALURU: The Walt Disney Company Inc (Disney) reported 9.8 percent year-over-year (y-o-y) increase in operating income for the quarter ended 2 April 2016 (Q2-16, current quarter) as compared to the corresponding year ago quarter. Operating income in the current quarter was $3,822 million as compared to $3,482 million in Q2-15 (quarter ended 28 March 2015).

    The company saw an increase of $340 million in operating income in its current quarter vis-à-vis the corresponding prior year quarter. Its Media Networks segment reported operating income of $198 million, while its Studio Entertainment segment reported operating income of $115 million.
    Disney’s Media Networks segment’s sub-segment Cable Networks of which ESPN is a part saw 12.3 percent y-o-y increase in operating income. The increase at ESPN was partially offset by lower equity income from A&E Television Networks says Disney.

    Disney reported 4.1 percent y-o-y growth in revenue in Q2-16 at $12,969 million as compared to $12,461 million in the corresponding prior year quarter. Growth in revenue of $508 million was contributed to by $168 million and $377 million growth by Disney’s ‘Parks & Resorts’ and ‘Studio Entertainment’ segments respectively.

    Company speak

    “We’re very pleased with our overall results in Q2, which marks our 11th consecutive quarter of double-digit growth in adjusted EPS,” said Disney chairman and CEO Robert A. Iger. “Our Studio’s unprecedented winning streak at the box office underscores the incredible appeal of our branded content, which we continue to leverage across the entire company to drive significant value. Looking forward, we are thrilled with the Studio’s slate and tremendously excited about the June 16th grand opening of the spectacular Shanghai Disney Resort.”

    Segment numbers excerpts

    Media Networks

    Media Networks revenue in Q2-16 was relatively flat y-o-y (declined 0.3 percent) at $5,793 million as compared to $5,810 million in Q2-15. The  segment’s operating income increased 9.4 percent y-o-y to $2,299 million in the current quarter from $2,101 million during the corresponding prior year quarter.

    Disney Media Networks segment has two sub-segments – Cable Networking and Broadcasting.

    Cable Networks revenue for the quarter decreased 1.9 percent y-o-y to $3,955 billion from $4,030 million in Q2-15. Operating income in Q2-16 increased 12.3 percent y-o-y to $2,021 million from $1,799 million due to an increase at ESPN, partially offset by lower equity income from A&E. 

    The increase at ESPN was due to the benefit of lower programming costs and higher affiliate revenues, partially offset by a decrease in advertising revenue.

    Lower equity income from A&E was due to a decrease in advertising revenue, higher programming costs and a negative impact from the conversion of the H2 channel to Viceland as Viceland is in a start-up phase says Disney.

    Broadcasting revenue for the quarter increased 3.3 percent to $1,838 million from $1,780 million. Operating income of the sub-segment decreased 7.9 percent y-o-y to $278 million from $302 million due to lower operating income from program sales and higher programming and marketing costs, partially offset by advertising and affiliate revenue growth. Lower operating income from program sales was due to a significant SVOD sale in the prior-year quarter and a higher cost mix of programs sold in the current quarter. 

    The increase in programming costs was due to a higher average cost of new scripted programming and increased program cost write-offs. The increase in network advertising revenue was due to higher rates, partially offset by lower ratings. Affiliate revenue growth was primarily due to contractual rate increases.

    Parks and Resorts

    Parks and Resorts revenue for the current quarter increased 4.5 percent y-oy- to $3,928 million from $3.760 million. Segment operating income in Q2-16 increased 10.2 percent y-o-y to $624 million from $566 million. Operating income growth for the quarter was due to an increase at Disney’s domestic operations, partially offset by a decrease at its international operations.

    Studio Entertainment

    Studio Entertainment revenue for the current quarter increased 22.4 percent to $2,062 million from $1,685 million in Q2-15. Segment operating income increased 26.9 percent to $542 million from $427 million. 

    Disney says that higher operating income was due to an increase in theatrical distribution results and growth in TV/SVOD distribution, partially offset by the impact of foreign currency translation due to the strengthening of the US dollar against major currencies, decreased home entertainment results and higher film cost impairments.

    The increase in theatrical distribution results was due to the strong performance of Star Wars: The Force Awakens and Zootopia in the current quarter compared to the continuing performance in the prior year quarter of Big Hero 6 and Into the Woods, both of which were released domestically in the first quarter of the prior year. Higher TV/SVOD distribution results were driven by international growth. The decrease in home entertainment results was primarily due to lower unit sales reflecting the performance of Big Hero 6, Frozen and Marvel’s Guardians of the Galaxy in the prior-year quarter compared to The Good Dinosaur, Inside Out and Marvel’s Ant-Man in the current quarter. The decrease from lower unit sales was partially offset by the benefit from Star Wars Classic titles that are distributed by a third party.

    Consumer Products & Interactive Media

    Consumer Products & Interactive Media revenue for the current quarter decreased 1.7 percent to $1,186 million from $1,286 million. Segment operating income decreased 8 percent to $357 million from $388 million. 

    Lower operating income was primarily due to the impact of foreign currency translation due to the strengthening of the U.S. dollar against major currencies, lower operating margins and comparable store sales at Disney’s retail business and lower results for Infinity. 

    These decreases were partially offset by higher licensing revenues. Increased licensing revenues were driven by higher revenue from Star Wars  merchandise, partially offset by an adverse impact from the timing of minimum guarantee shortfall recognition and a decrease in revenue from merchandise based on Frozen.

     

  • FY-16: NDTV revenue flat

    FY-16: NDTV revenue flat

    BENGALURU: New Delhi Television Limited (NDTV) reported flat (down 1 per cent) consolidated Total Income from Operations (TIO, revenue) for the year ended 31 March 2016 (FY-16, current year) as compared to the previous year. The company reported TIO of Rs 565.76 crore in the current year as compared to Rs 571.28 crore in FY-15.

     

    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.

     

    NDTV’s reported 3.8 percent year-on year (y-o-y) growth in TIO for the quarter ended 31 March 2016 (Q4-16, current quarter) at Rs 169.74 crore as compared to Rs 163.45 crore and 14.4 percent quarter-on-quarter (q-o-q) growth as compared to Rs 148.41 crore for Q3-2016.

     

    The company reported a higher loss for FY-16 at Rs 54.82 crore as compared to a loss of Rs 44.03 crore in FY-15. Loss in Q4-16 was however lower at Rs 0.77 crore as compared to a loss of Rs 17.21 crore in Q4-15 and a loss of Rs 12.54 crore in the immediate trailing quarter.

     

    NDTV reported an operating loss (EBIDTA) in FY-16 at Rs 22.45 crore as compared to an operating profit of Rs 32.93 crore (5.8 percent margin) in the previous year. EBIDTA in Q4-16 was Rs 8.25 crore (4.9 percent margin), 61.6 percent lower than the EBIDTA of Rs 21.50 crore (13.2 percent margin). The company reported an operating loss in Q3-16 at Rs 4.45 crore.

     

    Segment numbers

     

    NDTV’s Television Media and related operations (Television) segment reported almost flat (0.8 percent higher) revenue of Rs 559.13 crore as compared to Rs 554.63 crore in FY-15. The segment reported 7.7 percent y-o-y growth in revenue for Q1-16 at Rs 169.27 crore as compared to Rs 157.09 crore and a 14.4 percent q-o-q growth as compared to Rs 147.96 crore in Q3-16.

     

    Television segment reported an operating loss of 11.26 crore in FY-16 as compared to an operating profit of Rs 31.92 crore in FY-15. The segment reported an operating profit of 13.14 crore in Q4-16, 49 percent lower than Rs 25.78 crore in Q4-15. Television segments had reported an operating loss of Rs 3.44 crore in Q3-16.

     

    NDTV’s Retail/eCommerce (eCommerce) segment reported 17.5 percent decline in revenue at Rs 16.14 crore in FY-16 as compared to Rs 19.57 crore in the previous fiscal. eCommerce segment’s revenue in Q4-16 declined 62.2 percent y-o-y to Rs 2.57 crore  as compared to Rs 6.80 crore and declined 33.2 percent q-o-q from Rs 3.85 crore. The segment’s reported a higher operating loss in FY-16 at Rs 36.10 crore as compared to an operating loss of Rs 23.67 crore in FY-15. The segment’s operating loss in Q4-16 at Rs 10.30 crore was higher than the operating loss of Rs 9.99 crore in Q1-15 and higher than the operating loss of Rs 6.50 crore in Q4-15.

     

    Let us look at the other numbers reported by NDTV

     

    Total Expenditure (TE) in FY-16 increased 8.1 percent to Rs 624.47 crore (110.4 percent of TIO) as compared to Rs 577.89 crore (101.2 percent of TIO) in FY-15. TE in the current quarter increased 12.2 percent y-o-y to Rs 169.87 crore (100.1 percent of IO) as compared to Rs 151.34 crore (92.6 percent of TIO) and grew 6.2 percent q-o-q from Rs 159.89 crore (107.7 percent of TIO) in Q3-2016.

     

    NDTV’s consolidated Production Expense (PE) increased 1.2 percent in FY-16 to Rs 121.72 crore (21.5 percent of TIO) as compared to Rs 120.25 crore (21 percent of TIO) in FY-15. PE increased 22.3 percent y-o-y to Rs 41.09 crore (24.2 percent of TIO) from Rs 33.32 crore (20.4 percent of TIO) and grew 33.1 percent q-o-q from Rs 30.42 crore (20.5 percent of TIO).

     

    The company’s Marketing, distribution and promotional expense (Marketing expense) in the current year increased 20.7 percent to Rs 128.63 (22.7 percent of TIO) as compared to Rs 106.57 crore (18.7 percent of TIO) in FY-15. Marketing expense in the current quarter increased 30.4 percent y-o-y to Rs Rs 32.52 crore (19.2 percent of TIO) as compared to Rs 24.93 crore (15.3 percent of TIO) but was 10.9 percent lower q-o-q from Rs 36.50 crore (24.6 percent of TIO).

     

    NDTV’s Employee Benefit Expense (EBE) in FY-16 increased 9.7 percent to Rs 201.36 crore (35.6 percent of TIO) from Rs 183.55 crore (32.1 percent of TIO) in FY-15. EBE in Q4-16 increased 17.2 percent y-o-y to Rs 52.25 crore ( 30.8 percent of TIO)  from Rs 44.57 crore ( 27.3 percent of TIO) and increased 3.2 percent q-o-q from Rs 50.72 crore (34.2 percent of TIO).

     

    Operating and administration expenses (Admin expenses) in FY-16 increased 8.8 percent to Rs 132.76 crore (23.5 percent of TIO) from Rs 121.98 crore (21.4 percent of TIO) in FY-15. Admin expense in Q4-16 increased 13.9 percent y-o-y to Rs 36.72 crore (21.6 percent of TIO) from Rs 32.25 crore (19.7 percent of TIO) and grew 6.1 percent q-o-q from Rs 34.60 crore (23.3 percent of TIO).

    Finance Costs in the current year declined 3.4 percent to Rs 20.76 crore (3.7 percent of TIO) from Rs 21.48 crore (3.8 percent of TIO). Finance cost in the current quarter declined 12.2 percent y-o-y to Rs 4.66 crore (2.7 percent of TIO) from Rs  5.31 crore (3.2 percent of TIO) and declined 11.9 percent q-o-q from Rs 5.49 crore (3.6 percent of TIO).

     

    Company speak

     

    The NDTV board has decided to consider re-structuring / de-merger and separate listing of NDTV Convergence (ndtv.com) to unlock shareholder value. Ndtv.com is one of India’s most successful Internet businesses with a global reach and more than 65 million (6.5 crore) unique visitors a month. NDTV Convergence has been consistently profitable.

     

    NDVT’s eCommerce business

     

    Gadgets360.com – achieved a Gross Merchandize Value (GMV) of Rs 27 crores while maintaining a positive contribution margin per unit as well as total gross margin. The portal is now bigger than next 5 Indian tech sites combined.

     

    CarAndBike.com – was the exclusive launch partner for 4 cars in the span of the last 6 months of 2015-16. The fledgling startup has already on-boarded 8 OEM’s for direct sale of cars and bikes covering 40 percent of the new car market pan India. The site includes innovative features such as the consumer-to-consumer auction engine for used cars as well as regional language content and a complete host of allied services pertaining to loans and insurance.

     

    BandBaajaa.com – launched on 6th October 2015, which aims to be a one-stop shop for wedding planning, ideas, inspiration, shopping and execution has already partnered with 2,100 vendors across 15 cities in 14 categories like venues, photographers, makeup-artists, etc.

     

    Mojarto.com – launched as an online platform aggregating artists, galleries, artisans and designers from across the sub-continent into a marketplace.

  • FY-16: NDTV revenue flat

    FY-16: NDTV revenue flat

    BENGALURU: New Delhi Television Limited (NDTV) reported flat (down 1 per cent) consolidated Total Income from Operations (TIO, revenue) for the year ended 31 March 2016 (FY-16, current year) as compared to the previous year. The company reported TIO of Rs 565.76 crore in the current year as compared to Rs 571.28 crore in FY-15.

     

    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.

     

    NDTV’s reported 3.8 percent year-on year (y-o-y) growth in TIO for the quarter ended 31 March 2016 (Q4-16, current quarter) at Rs 169.74 crore as compared to Rs 163.45 crore and 14.4 percent quarter-on-quarter (q-o-q) growth as compared to Rs 148.41 crore for Q3-2016.

     

    The company reported a higher loss for FY-16 at Rs 54.82 crore as compared to a loss of Rs 44.03 crore in FY-15. Loss in Q4-16 was however lower at Rs 0.77 crore as compared to a loss of Rs 17.21 crore in Q4-15 and a loss of Rs 12.54 crore in the immediate trailing quarter.

     

    NDTV reported an operating loss (EBIDTA) in FY-16 at Rs 22.45 crore as compared to an operating profit of Rs 32.93 crore (5.8 percent margin) in the previous year. EBIDTA in Q4-16 was Rs 8.25 crore (4.9 percent margin), 61.6 percent lower than the EBIDTA of Rs 21.50 crore (13.2 percent margin). The company reported an operating loss in Q3-16 at Rs 4.45 crore.

     

    Segment numbers

     

    NDTV’s Television Media and related operations (Television) segment reported almost flat (0.8 percent higher) revenue of Rs 559.13 crore as compared to Rs 554.63 crore in FY-15. The segment reported 7.7 percent y-o-y growth in revenue for Q1-16 at Rs 169.27 crore as compared to Rs 157.09 crore and a 14.4 percent q-o-q growth as compared to Rs 147.96 crore in Q3-16.

     

    Television segment reported an operating loss of 11.26 crore in FY-16 as compared to an operating profit of Rs 31.92 crore in FY-15. The segment reported an operating profit of 13.14 crore in Q4-16, 49 percent lower than Rs 25.78 crore in Q4-15. Television segments had reported an operating loss of Rs 3.44 crore in Q3-16.

     

    NDTV’s Retail/eCommerce (eCommerce) segment reported 17.5 percent decline in revenue at Rs 16.14 crore in FY-16 as compared to Rs 19.57 crore in the previous fiscal. eCommerce segment’s revenue in Q4-16 declined 62.2 percent y-o-y to Rs 2.57 crore  as compared to Rs 6.80 crore and declined 33.2 percent q-o-q from Rs 3.85 crore. The segment’s reported a higher operating loss in FY-16 at Rs 36.10 crore as compared to an operating loss of Rs 23.67 crore in FY-15. The segment’s operating loss in Q4-16 at Rs 10.30 crore was higher than the operating loss of Rs 9.99 crore in Q1-15 and higher than the operating loss of Rs 6.50 crore in Q4-15.

     

    Let us look at the other numbers reported by NDTV

     

    Total Expenditure (TE) in FY-16 increased 8.1 percent to Rs 624.47 crore (110.4 percent of TIO) as compared to Rs 577.89 crore (101.2 percent of TIO) in FY-15. TE in the current quarter increased 12.2 percent y-o-y to Rs 169.87 crore (100.1 percent of IO) as compared to Rs 151.34 crore (92.6 percent of TIO) and grew 6.2 percent q-o-q from Rs 159.89 crore (107.7 percent of TIO) in Q3-2016.

     

    NDTV’s consolidated Production Expense (PE) increased 1.2 percent in FY-16 to Rs 121.72 crore (21.5 percent of TIO) as compared to Rs 120.25 crore (21 percent of TIO) in FY-15. PE increased 22.3 percent y-o-y to Rs 41.09 crore (24.2 percent of TIO) from Rs 33.32 crore (20.4 percent of TIO) and grew 33.1 percent q-o-q from Rs 30.42 crore (20.5 percent of TIO).

     

    The company’s Marketing, distribution and promotional expense (Marketing expense) in the current year increased 20.7 percent to Rs 128.63 (22.7 percent of TIO) as compared to Rs 106.57 crore (18.7 percent of TIO) in FY-15. Marketing expense in the current quarter increased 30.4 percent y-o-y to Rs Rs 32.52 crore (19.2 percent of TIO) as compared to Rs 24.93 crore (15.3 percent of TIO) but was 10.9 percent lower q-o-q from Rs 36.50 crore (24.6 percent of TIO).

     

    NDTV’s Employee Benefit Expense (EBE) in FY-16 increased 9.7 percent to Rs 201.36 crore (35.6 percent of TIO) from Rs 183.55 crore (32.1 percent of TIO) in FY-15. EBE in Q4-16 increased 17.2 percent y-o-y to Rs 52.25 crore ( 30.8 percent of TIO)  from Rs 44.57 crore ( 27.3 percent of TIO) and increased 3.2 percent q-o-q from Rs 50.72 crore (34.2 percent of TIO).

     

    Operating and administration expenses (Admin expenses) in FY-16 increased 8.8 percent to Rs 132.76 crore (23.5 percent of TIO) from Rs 121.98 crore (21.4 percent of TIO) in FY-15. Admin expense in Q4-16 increased 13.9 percent y-o-y to Rs 36.72 crore (21.6 percent of TIO) from Rs 32.25 crore (19.7 percent of TIO) and grew 6.1 percent q-o-q from Rs 34.60 crore (23.3 percent of TIO).

    Finance Costs in the current year declined 3.4 percent to Rs 20.76 crore (3.7 percent of TIO) from Rs 21.48 crore (3.8 percent of TIO). Finance cost in the current quarter declined 12.2 percent y-o-y to Rs 4.66 crore (2.7 percent of TIO) from Rs  5.31 crore (3.2 percent of TIO) and declined 11.9 percent q-o-q from Rs 5.49 crore (3.6 percent of TIO).

     

    Company speak

     

    The NDTV board has decided to consider re-structuring / de-merger and separate listing of NDTV Convergence (ndtv.com) to unlock shareholder value. Ndtv.com is one of India’s most successful Internet businesses with a global reach and more than 65 million (6.5 crore) unique visitors a month. NDTV Convergence has been consistently profitable.

     

    NDVT’s eCommerce business

     

    Gadgets360.com – achieved a Gross Merchandize Value (GMV) of Rs 27 crores while maintaining a positive contribution margin per unit as well as total gross margin. The portal is now bigger than next 5 Indian tech sites combined.

     

    CarAndBike.com – was the exclusive launch partner for 4 cars in the span of the last 6 months of 2015-16. The fledgling startup has already on-boarded 8 OEM’s for direct sale of cars and bikes covering 40 percent of the new car market pan India. The site includes innovative features such as the consumer-to-consumer auction engine for used cars as well as regional language content and a complete host of allied services pertaining to loans and insurance.

     

    BandBaajaa.com – launched on 6th October 2015, which aims to be a one-stop shop for wedding planning, ideas, inspiration, shopping and execution has already partnered with 2,100 vendors across 15 cities in 14 categories like venues, photographers, makeup-artists, etc.

     

    Mojarto.com – launched as an online platform aggregating artists, galleries, artisans and designers from across the sub-continent into a marketplace.

  • Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    BENGALURU:  Rupert Murdoch’s Twenty-First Century Fox Inc. ( 21st Century Fox) reported 5.7 percent year-on-year (y-o-y) growth in adjusted total revenue (revenue) for its third quarter ended 31 March 2016 (Q3-16, current quarter). 21st Century Fox reported revenue of $7,228 million in the current quarter as compared to $6,840 million in the corresponding year ago quarter. This revenue growth reflects higher affiliate and advertising revenues at both the Cable Network Programming and Television segments partially offset by lower television production revenues at the Filmed Entertainment segment. The adverse impact of foreign exchange rates in the current quarter impacted revenue growth by $204 million, or 3 percent in total.

    Affiliates fees in Q3-16 increased 7.3 percent y-o-y to $2,939 million as compared to $2,740 million. Advertising revenue in the current quarter increased 3.6 percent to $1,907 million as compared to $1,840 million in the corresponding year ago quarter. Content revenue in Q3-16 increased 4.5 percent y-o-y to $2,288 million to $2,189 million. ‘Other’ revenue in Q3-16 increased 32.4 percent y-o-y to $94 million from $71 million.

    Quarterly total segment operating income before depreciation and amortization (OIBDA) of $1,881 million increased $204 million, or 12.2 percent, from the $1,677 million of quarterly OIBDA reported in the prior year. The increase principally reflects double digit OIBDA growth at each of the company’s Filmed Entertainment and Cable Network Programming segments partially offset by lower contributions from the Television segment. The adverse impact of foreign exchange rates impacted OIBDA growth by $110 million, or 7 percent.

    21st Century Fox reported quarterly income from continuing operations attributable to stockholders of $844 million ($0.44 per share), compared with $990 million ($0.47 per share) in the prior year. Excluding the net income effects of Other, net and gains and other adjustments related to Sky plc and Endemol Shine Group included in equity losses from affiliates, adjusted quarterly earnings per share from continuing operations attributable to stockholders was $0.47 compared with the adjusted year-ago result of $0.42.

    21st Century Fox executive chairmen Rupert and Lachlan Murdoch said: “We delivered significant revenue and earnings growth in the quarter on the strength of gains in affiliate and advertising revenues across our domestic and international cable portfolios as well as at our television segment. Whether it was Fox News outranking all of basic cable for the first time, FX delivering the year’s most watched new cable show with The People v. O.J. Simpson: American Crime Story, or Star Sports remaking televised sports in India, the unique appeal of our industry leading brands and premium content has never been clearer. This strength extended to our film studio, which broke global box office records and expanded a global franchise with Deadpool, while delivering its second strongest quarterly earnings ever. The demonstrated value of our brands and our outstanding creative content will drive our businesses forward in both the existing and evolving media marketplace.”

    Cable Networking Programming (CNP)

    CNP revenue in Q3-16 increased 9.8 percent y-o-y to $3,941 million as compared to $3,590 million. Cable Network Programming quarterly segment OIBDA increased 11.5 percent to $1,375 million driven by a 10 percent revenue increase on higher affiliate revenues and low double digit advertising revenue growth, partially offset by a 9 percent increase in expenses.

    Domestic affiliate revenue increased 7 percent reflecting sustained growth at FX Networks and FS1. Domestic advertising revenue grew 17 percent over the corresponding prior year quarter reflecting higher ratings and pricing at Fox News and a higher number of National Basketball Association games played in the current quarter at the Regional Sports Networks as well as the impact from the consolidation of the National Geographic non-channels businesses. Domestic OIBDA contributions increased 7 percent over the Q3-15 led by higher contributions from FS1, Fox News and FX Networks.

    International affiliate revenue increased 6 percent driven by strong local currency growth at the Star India and Fox Networks Group International (FNG International) channels, formally known as Fox International Channels, or FIC, which was partially offset by a negative 14 percent impact from the strengthened US dollar. International advertising revenue increased 6 percent as local currency growth at the Star India and FNG International entertainment channels was partially offset by a negative 11 percent impact from the strengthened US dollar. Quarterly OIBDA at the international cable channels increased 67 percent reflecting strong growth at the Star India channels due to both higher affiliate and advertising revenues at the entertainment channels and lower rights costs at the sports channels due to the absence of the prior year broadcast of the ICC Cricket World Cup.

    Television

    Television revenue increased 5 percent y-o-y in Q3-16 to $1,298 million from $1,237 million in Q3-15. Television generated quarterly segment OIBDA in Q3-16 of $125 million, a $16 million decrease from the $141 million reported in Q3-15. Quarterly segment revenues were 5 percent higher than in Q1-15 due to strong retransmission consent revenue growth and higher advertising revenues led by higher political spending at the TV stations. The decrease in segment OIBDA was driven by higher contractual sports programming costs at the Fox Broadcast Network that more than offset the higher revenues.

    Filmed Entertainment

    Filmed Entertainment segment reported a 2.8 percent y-o-y decline in revenue to $2,321 million in Q3-16 as compared to $2,389 million in Q1-15. Filmed Entertainment generated quarterly segment OIBDA of $470 million, an increase of $88 million, or 23 percent, from the $382 million reported in the same period a year-ago. The OIBDA increase was driven by higher contributions from the film studio, led by the record-breaking worldwide theatrical release of Deadpool, which has grossed over $760 million in worldwide box office to date and is the top grossing R-rated movie ever, partially offset by lower television production results reflecting the absence of the network delivery of Glee, which aired its final season on the Fox Broadcast Network last year. Q3-16 segment revenues decreased primarily reflecting lower worldwide home entertainment and television production revenues and a 3 percent negative impact from foreign exchange rate fluctuations, partially offset by higher worldwide theatrical revenues, led by the theatrical release of Deadpool. Foreign exchange fluctuations adversely impacted segment OIBDA growth by 13 percent.

     

  • Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    Q3-16: Affiliate & Advertising revenues prop 21st Century Fox revenue 5.7 percent

    BENGALURU:  Rupert Murdoch’s Twenty-First Century Fox Inc. ( 21st Century Fox) reported 5.7 percent year-on-year (y-o-y) growth in adjusted total revenue (revenue) for its third quarter ended 31 March 2016 (Q3-16, current quarter). 21st Century Fox reported revenue of $7,228 million in the current quarter as compared to $6,840 million in the corresponding year ago quarter. This revenue growth reflects higher affiliate and advertising revenues at both the Cable Network Programming and Television segments partially offset by lower television production revenues at the Filmed Entertainment segment. The adverse impact of foreign exchange rates in the current quarter impacted revenue growth by $204 million, or 3 percent in total.

    Affiliates fees in Q3-16 increased 7.3 percent y-o-y to $2,939 million as compared to $2,740 million. Advertising revenue in the current quarter increased 3.6 percent to $1,907 million as compared to $1,840 million in the corresponding year ago quarter. Content revenue in Q3-16 increased 4.5 percent y-o-y to $2,288 million to $2,189 million. ‘Other’ revenue in Q3-16 increased 32.4 percent y-o-y to $94 million from $71 million.

    Quarterly total segment operating income before depreciation and amortization (OIBDA) of $1,881 million increased $204 million, or 12.2 percent, from the $1,677 million of quarterly OIBDA reported in the prior year. The increase principally reflects double digit OIBDA growth at each of the company’s Filmed Entertainment and Cable Network Programming segments partially offset by lower contributions from the Television segment. The adverse impact of foreign exchange rates impacted OIBDA growth by $110 million, or 7 percent.

    21st Century Fox reported quarterly income from continuing operations attributable to stockholders of $844 million ($0.44 per share), compared with $990 million ($0.47 per share) in the prior year. Excluding the net income effects of Other, net and gains and other adjustments related to Sky plc and Endemol Shine Group included in equity losses from affiliates, adjusted quarterly earnings per share from continuing operations attributable to stockholders was $0.47 compared with the adjusted year-ago result of $0.42.

    21st Century Fox executive chairmen Rupert and Lachlan Murdoch said: “We delivered significant revenue and earnings growth in the quarter on the strength of gains in affiliate and advertising revenues across our domestic and international cable portfolios as well as at our television segment. Whether it was Fox News outranking all of basic cable for the first time, FX delivering the year’s most watched new cable show with The People v. O.J. Simpson: American Crime Story, or Star Sports remaking televised sports in India, the unique appeal of our industry leading brands and premium content has never been clearer. This strength extended to our film studio, which broke global box office records and expanded a global franchise with Deadpool, while delivering its second strongest quarterly earnings ever. The demonstrated value of our brands and our outstanding creative content will drive our businesses forward in both the existing and evolving media marketplace.”

    Cable Networking Programming (CNP)

    CNP revenue in Q3-16 increased 9.8 percent y-o-y to $3,941 million as compared to $3,590 million. Cable Network Programming quarterly segment OIBDA increased 11.5 percent to $1,375 million driven by a 10 percent revenue increase on higher affiliate revenues and low double digit advertising revenue growth, partially offset by a 9 percent increase in expenses.

    Domestic affiliate revenue increased 7 percent reflecting sustained growth at FX Networks and FS1. Domestic advertising revenue grew 17 percent over the corresponding prior year quarter reflecting higher ratings and pricing at Fox News and a higher number of National Basketball Association games played in the current quarter at the Regional Sports Networks as well as the impact from the consolidation of the National Geographic non-channels businesses. Domestic OIBDA contributions increased 7 percent over the Q3-15 led by higher contributions from FS1, Fox News and FX Networks.

    International affiliate revenue increased 6 percent driven by strong local currency growth at the Star India and Fox Networks Group International (FNG International) channels, formally known as Fox International Channels, or FIC, which was partially offset by a negative 14 percent impact from the strengthened US dollar. International advertising revenue increased 6 percent as local currency growth at the Star India and FNG International entertainment channels was partially offset by a negative 11 percent impact from the strengthened US dollar. Quarterly OIBDA at the international cable channels increased 67 percent reflecting strong growth at the Star India channels due to both higher affiliate and advertising revenues at the entertainment channels and lower rights costs at the sports channels due to the absence of the prior year broadcast of the ICC Cricket World Cup.

    Television

    Television revenue increased 5 percent y-o-y in Q3-16 to $1,298 million from $1,237 million in Q3-15. Television generated quarterly segment OIBDA in Q3-16 of $125 million, a $16 million decrease from the $141 million reported in Q3-15. Quarterly segment revenues were 5 percent higher than in Q1-15 due to strong retransmission consent revenue growth and higher advertising revenues led by higher political spending at the TV stations. The decrease in segment OIBDA was driven by higher contractual sports programming costs at the Fox Broadcast Network that more than offset the higher revenues.

    Filmed Entertainment

    Filmed Entertainment segment reported a 2.8 percent y-o-y decline in revenue to $2,321 million in Q3-16 as compared to $2,389 million in Q1-15. Filmed Entertainment generated quarterly segment OIBDA of $470 million, an increase of $88 million, or 23 percent, from the $382 million reported in the same period a year-ago. The OIBDA increase was driven by higher contributions from the film studio, led by the record-breaking worldwide theatrical release of Deadpool, which has grossed over $760 million in worldwide box office to date and is the top grossing R-rated movie ever, partially offset by lower television production results reflecting the absence of the network delivery of Glee, which aired its final season on the Fox Broadcast Network last year. Q3-16 segment revenues decreased primarily reflecting lower worldwide home entertainment and television production revenues and a 3 percent negative impact from foreign exchange rate fluctuations, partially offset by higher worldwide theatrical revenues, led by the theatrical release of Deadpool. Foreign exchange fluctuations adversely impacted segment OIBDA growth by 13 percent.

     

  • Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    BENGALURU: Time Warner Inc., (Time Warner) reported 2.5 percent growth in revenues for the quarter ended 31 March 2016 (current quarter, Q1-16) at $7,308 million as compared to the $7,127 million in Q1-15. Revenues increased due to growth at Turner and Home Box Office, partially offset by a decline at Warner Bros.

    Total Operating Income increased 11.8 percent year-on-year in the current quarter to $1,996 million as compared to $1,786 million in the corresponding quarter of the previous year.

    Time Warner chairman and chief executive officer Jeff Bewkes said, ““We’re off to a terrific start to 2016, as we benefit from the investments we’ve been making in great content and new capabilities in order to take advantage of the growing demand for high-quality video content around the world. Revenues increased 3 percent and Adjusted Operating Income grew 11 percent to a quarterly record of $2 billion due to strong growth across all our operating divisions. In the past several weeks, we’ve seen Warner Bros. release its latest global hit in Batman v Superman: Dawn of Justice, setting the stage for what we expect to be a big year in film, with upcoming releases including Suicide Squad and Fantastic Beasts and Where to Find Them. In television, Warner Bros. continued to show its strength with three of the top five new shows on broadcast television this season among adults 18-49 and a record 21 renewals ahead of the upfront this year.”

    Bewkes continued, “Turner aired cable’s first ever NCAA Men’s Division I Basketball Championship game, and Turner and CBS entered into an agreement with the NCAA to extend their television, digital and marketing rights to the NCAA tournament through 2032. TBS ended the quarter as the #1 ad-supported cable network in primetime among adults 18-49 and its repositioning as cable’s premier network for young, fresh comedy is underway with the introduction of new programming including Angie Tribeca, Full Frontal with Samantha Bee and The Detour, the biggest new comedy on cable this year. With its must-watch coverage of the US presidential campaign, CNN continued to build on its success by more than doubling its primetime audience in the quarter. Meanwhile, HBO continued to make strides both inside and outside the traditional TV ecosystem, including expanding its OTT reach to new platforms and new international territories. And, more recently, HBO’s epic series Game of Thrones returned to record premiere night viewership. Further demonstrating our commitment to shareholder returns, we returned close to $1.3 billion to our shareholders through share repurchases and dividends year-to-date.”

    Turner

    Turner reported 7.2 percent YoY growth in revenues in the current quarter at $2,906 million as compared to $2,710 million. The segment reported 11.8 percent YoY increase in operating to $1,239 million from $1,108 million. 

    Revenues increased due to increases of 11 percent ($143 million) in subscription revenues and 5 percent ($56 million) in advertising revenues. Turner says subscription revenues increased due to higher domestic rates and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates and lower domestic subscribers. Advertising revenues benefited from domestic growth, primarily due to Turner’s news business, and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates.

    Home Box Office

    HBO reported YoY increase in revenues to $1,506 million in Q1-16 from $1,398 million in Q1-15. HBO operating income increased 4.1 percent to $477 million in the current quarter from $458 million in the corresponding year ago quarter.

    Revenues increased due to increases of 5 percent ($57 million) in subscription revenues and 23 percent ($51 million) in content and other revenues. Subscription revenues grew primarily due to higher domestic rates and subscribers. The increase in content and other revenues primarily reflected higher international licensing revenues, partially offset by lower home entertainment revenues.

    Warner Bros,

    Warner Bros. reported 2.8 percent YoY decline in revenues Q1-16 to $3,109 million from $3,199 million in Q1-15. Despite drop in revenue, Operating Income from the segment increased 30.9 percent in Q1-16 to $424 million from $324 million in the corresponding year ago quarter.

    Revenues decreased mainly due to lower theatrical revenues, partially offset by higher television and videogames revenues. Theatrical revenues declined as the prior year quarter included revenues from American Sniper and The Hobbit: The Battle of the Five Armies compared to the release of Batman v Superman: Dawn of Justice late in the current year quarter. Television revenues increased primarily due to higher international licensing revenues and higher initial telecast revenues. The increase in videogames was mainly due to Warner Bros. LEGO and Mortal Kombat franchises.

     

  • Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    Q1-16: Turner, HBO push Time Warner revenues up 2.5 percent

    BENGALURU: Time Warner Inc., (Time Warner) reported 2.5 percent growth in revenues for the quarter ended 31 March 2016 (current quarter, Q1-16) at $7,308 million as compared to the $7,127 million in Q1-15. Revenues increased due to growth at Turner and Home Box Office, partially offset by a decline at Warner Bros.

    Total Operating Income increased 11.8 percent year-on-year in the current quarter to $1,996 million as compared to $1,786 million in the corresponding quarter of the previous year.

    Time Warner chairman and chief executive officer Jeff Bewkes said, ““We’re off to a terrific start to 2016, as we benefit from the investments we’ve been making in great content and new capabilities in order to take advantage of the growing demand for high-quality video content around the world. Revenues increased 3 percent and Adjusted Operating Income grew 11 percent to a quarterly record of $2 billion due to strong growth across all our operating divisions. In the past several weeks, we’ve seen Warner Bros. release its latest global hit in Batman v Superman: Dawn of Justice, setting the stage for what we expect to be a big year in film, with upcoming releases including Suicide Squad and Fantastic Beasts and Where to Find Them. In television, Warner Bros. continued to show its strength with three of the top five new shows on broadcast television this season among adults 18-49 and a record 21 renewals ahead of the upfront this year.”

    Bewkes continued, “Turner aired cable’s first ever NCAA Men’s Division I Basketball Championship game, and Turner and CBS entered into an agreement with the NCAA to extend their television, digital and marketing rights to the NCAA tournament through 2032. TBS ended the quarter as the #1 ad-supported cable network in primetime among adults 18-49 and its repositioning as cable’s premier network for young, fresh comedy is underway with the introduction of new programming including Angie Tribeca, Full Frontal with Samantha Bee and The Detour, the biggest new comedy on cable this year. With its must-watch coverage of the US presidential campaign, CNN continued to build on its success by more than doubling its primetime audience in the quarter. Meanwhile, HBO continued to make strides both inside and outside the traditional TV ecosystem, including expanding its OTT reach to new platforms and new international territories. And, more recently, HBO’s epic series Game of Thrones returned to record premiere night viewership. Further demonstrating our commitment to shareholder returns, we returned close to $1.3 billion to our shareholders through share repurchases and dividends year-to-date.”

    Turner

    Turner reported 7.2 percent YoY growth in revenues in the current quarter at $2,906 million as compared to $2,710 million. The segment reported 11.8 percent YoY increase in operating to $1,239 million from $1,108 million. 

    Revenues increased due to increases of 11 percent ($143 million) in subscription revenues and 5 percent ($56 million) in advertising revenues. Turner says subscription revenues increased due to higher domestic rates and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates and lower domestic subscribers. Advertising revenues benefited from domestic growth, primarily due to Turner’s news business, and local currency growth at Turner’s international networks, partially offset by the impact of foreign exchange rates.

    Home Box Office

    HBO reported YoY increase in revenues to $1,506 million in Q1-16 from $1,398 million in Q1-15. HBO operating income increased 4.1 percent to $477 million in the current quarter from $458 million in the corresponding year ago quarter.

    Revenues increased due to increases of 5 percent ($57 million) in subscription revenues and 23 percent ($51 million) in content and other revenues. Subscription revenues grew primarily due to higher domestic rates and subscribers. The increase in content and other revenues primarily reflected higher international licensing revenues, partially offset by lower home entertainment revenues.

    Warner Bros,

    Warner Bros. reported 2.8 percent YoY decline in revenues Q1-16 to $3,109 million from $3,199 million in Q1-15. Despite drop in revenue, Operating Income from the segment increased 30.9 percent in Q1-16 to $424 million from $324 million in the corresponding year ago quarter.

    Revenues decreased mainly due to lower theatrical revenues, partially offset by higher television and videogames revenues. Theatrical revenues declined as the prior year quarter included revenues from American Sniper and The Hobbit: The Battle of the Five Armies compared to the release of Batman v Superman: Dawn of Justice late in the current year quarter. Television revenues increased primarily due to higher international licensing revenues and higher initial telecast revenues. The increase in videogames was mainly due to Warner Bros. LEGO and Mortal Kombat franchises.