ITV

Category: Financials

  • Q2-2016: 21st Century Fox reports flat revenue, operating income up 2.1%

    Q2-2016: 21st Century Fox reports flat revenue, operating income up 2.1%

    BENGALURU: Rupert Murdoch’s 21st Century Fox Inc (Fox) reported almost flat YoY (down 0.7 per cent) adjusted revenue of $7,375 million in the quarter ended 31 December, 2015 (Q2-2016, current quarter) as compared to the $7,424 million in the corresponding prior year quarter.

    Adjusted Operating Income (OIBDA) in the current quarter increased 2.1 per cent YoY at $1,730 million as compared to $1,695 million. The company says that the decline compared to last year’s adjusted revenues reflects higher affiliate and advertising revenues at the Cable Network Programming and Television segments that were more than offset by lower revenues generated at the Filmed Entertainment segment due to lower home entertainment revenues and the absence of revenues from Shine in the current quarter. The adverse impact of foreign exchange rates in the current quarter impacted adjusted revenue growth by $207 million, or three per cent in total.

    According to Fox, the YoY increase in adjusted OIBDA compared to last year’s adjusted OIBDA primarily reflects eight per cent growth at the company’s Cable Network Programming segment partially offset by reduced contributions from the Filmed Entertainment segment. The adverse impact of foreign exchange rates impacted adjusted OIBDA growth by $109 million, or six per cent.

    Commenting on the results, Fox executive chairmen Rupert and Lachlan Murdoch said, “During the quarter, our cable business continued to drive our growth, delivering sustained increases in domestic affiliate fees and gains in advertising revenue, underscoring the power of our global brands and distinctive programming. In addition, we are encouraged by progress at the Fox Broadcast Network, which delivered significant advertising gains from both our sports and entertainment programming. At our television production business, we deliberately invested in a higher number of new original series this quarter in support of the network’s new primetime schedule and in creating valuable long-term assets for the company. We continued with our top priority of delivering standout storytelling and are proud of our industry-leading Academy Award nominations as well as Golden Globe wins across both our film and television businesses.”

    Cable Network Programming

    Cable Network Programming quarterly segment OIBDA increased eight per cent to $1.25 billion, driven by a nine per cent revenue increase on strong affiliate revenue growth and higher advertising revenues partially offset by a 10 per cent increase in expenses. The increase in expenses was primarily due to the impact from the consolidation of newly acquired National Geographic Partners businesses as well as higher planned sports programming costs led by soccer, Major League Baseball and college football rights. Foreign exchange fluctuations, primarily in Latin America and Europe, adversely impacted segment OIBDA growth by five per cent.

    Domestic affiliate revenue increased 10 per cent reflecting continued strong growth at FS1 and Fox News and sustained growth across all of the other domestic cable networks. Domestic advertising revenue grew three per cent over the prior year period reflecting solid growth at Fox News and the Regional Sports Networks, led by higher ratings for National Basketball Association games, partially offset by lower advertising revenues at FX Networks from lower ratings. Domestic OIBDA contributions increased seven per cent over the prior year led by higher contributions from Fox News and the domestic sports channels.

    International affiliate revenue decreased one per cent as 11 per cent local currency growth at Star and the Fox International Channels (FIC) was more than offset by a 12 per cent adverse impact from the strengthened US dollar. Despite an 11 per cent adverse impact from the strengthened US dollar, international advertising revenue increased 15 per cent as the Star and FIC channels generated strong local currency growth. Quarterly OIBDA at the international cable channels increased eight per cent reflecting strong local currency growth partially offset by the adverse impact of the strengthened US dollar.

    Television

    Television generated quarterly segment OIBDA of $279 million, an $11 million decrease over the $290 million reported in the prior year quarter. Quarterly segment revenues were six per cent higher than the corresponding period in the prior year due to strong retransmission consent revenue growth and a four per cent increase in advertising revenues, primarily reflecting low double digit
    advertising growth at the Fox Broadcast Network, which benefited from higher national pricing and increased audiences for both the National Football League and the new primetime schedule led by Empire, partially offset by lower cyclical political advertising revenues 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 generated quarterly segment OIBDA of $302 million, a $34 million decrease from the $336 million reported in the same period a year-ago. Quarterly segment revenues decreased $392 million to $2.36 billion, primarily due to lower worldwide home entertainment revenues reflecting difficult comparisons to last year’s strong performance of X-Men: Days of Future Past and Dawn of the Planet of the Apes with this year’s home entertainment performance of Spy, the absence of revenue contributions from Shine and the adverse impact of the strengthened US dollar partially offset by higher television production network revenues. The OIBDA decline over the prior year primarily reflects lower contributions from the television production business due to higher deficits related to more new series delivered during the quarter and the absence of contributions from successful series that concluded in the prior year, including Sons of Anarchy, partially offset by higher film studio contributions driven by the worldwide theatrical performance of The Martian, which has grossed over $600 million in worldwide box office to date. Segment OIBDA comparisons were also adversely impacted by a 14 per cent negative impact from foreign exchange rate fluctuations.

  • Q2-2016: 21st Century Fox reports flat revenue, operating income up 2.1%

    Q2-2016: 21st Century Fox reports flat revenue, operating income up 2.1%

    BENGALURU: Rupert Murdoch’s 21st Century Fox Inc (Fox) reported almost flat YoY (down 0.7 per cent) adjusted revenue of $7,375 million in the quarter ended 31 December, 2015 (Q2-2016, current quarter) as compared to the $7,424 million in the corresponding prior year quarter.

    Adjusted Operating Income (OIBDA) in the current quarter increased 2.1 per cent YoY at $1,730 million as compared to $1,695 million. The company says that the decline compared to last year’s adjusted revenues reflects higher affiliate and advertising revenues at the Cable Network Programming and Television segments that were more than offset by lower revenues generated at the Filmed Entertainment segment due to lower home entertainment revenues and the absence of revenues from Shine in the current quarter. The adverse impact of foreign exchange rates in the current quarter impacted adjusted revenue growth by $207 million, or three per cent in total.

    According to Fox, the YoY increase in adjusted OIBDA compared to last year’s adjusted OIBDA primarily reflects eight per cent growth at the company’s Cable Network Programming segment partially offset by reduced contributions from the Filmed Entertainment segment. The adverse impact of foreign exchange rates impacted adjusted OIBDA growth by $109 million, or six per cent.

    Commenting on the results, Fox executive chairmen Rupert and Lachlan Murdoch said, “During the quarter, our cable business continued to drive our growth, delivering sustained increases in domestic affiliate fees and gains in advertising revenue, underscoring the power of our global brands and distinctive programming. In addition, we are encouraged by progress at the Fox Broadcast Network, which delivered significant advertising gains from both our sports and entertainment programming. At our television production business, we deliberately invested in a higher number of new original series this quarter in support of the network’s new primetime schedule and in creating valuable long-term assets for the company. We continued with our top priority of delivering standout storytelling and are proud of our industry-leading Academy Award nominations as well as Golden Globe wins across both our film and television businesses.”

    Cable Network Programming

    Cable Network Programming quarterly segment OIBDA increased eight per cent to $1.25 billion, driven by a nine per cent revenue increase on strong affiliate revenue growth and higher advertising revenues partially offset by a 10 per cent increase in expenses. The increase in expenses was primarily due to the impact from the consolidation of newly acquired National Geographic Partners businesses as well as higher planned sports programming costs led by soccer, Major League Baseball and college football rights. Foreign exchange fluctuations, primarily in Latin America and Europe, adversely impacted segment OIBDA growth by five per cent.

    Domestic affiliate revenue increased 10 per cent reflecting continued strong growth at FS1 and Fox News and sustained growth across all of the other domestic cable networks. Domestic advertising revenue grew three per cent over the prior year period reflecting solid growth at Fox News and the Regional Sports Networks, led by higher ratings for National Basketball Association games, partially offset by lower advertising revenues at FX Networks from lower ratings. Domestic OIBDA contributions increased seven per cent over the prior year led by higher contributions from Fox News and the domestic sports channels.

    International affiliate revenue decreased one per cent as 11 per cent local currency growth at Star and the Fox International Channels (FIC) was more than offset by a 12 per cent adverse impact from the strengthened US dollar. Despite an 11 per cent adverse impact from the strengthened US dollar, international advertising revenue increased 15 per cent as the Star and FIC channels generated strong local currency growth. Quarterly OIBDA at the international cable channels increased eight per cent reflecting strong local currency growth partially offset by the adverse impact of the strengthened US dollar.

    Television

    Television generated quarterly segment OIBDA of $279 million, an $11 million decrease over the $290 million reported in the prior year quarter. Quarterly segment revenues were six per cent higher than the corresponding period in the prior year due to strong retransmission consent revenue growth and a four per cent increase in advertising revenues, primarily reflecting low double digit
    advertising growth at the Fox Broadcast Network, which benefited from higher national pricing and increased audiences for both the National Football League and the new primetime schedule led by Empire, partially offset by lower cyclical political advertising revenues 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 generated quarterly segment OIBDA of $302 million, a $34 million decrease from the $336 million reported in the same period a year-ago. Quarterly segment revenues decreased $392 million to $2.36 billion, primarily due to lower worldwide home entertainment revenues reflecting difficult comparisons to last year’s strong performance of X-Men: Days of Future Past and Dawn of the Planet of the Apes with this year’s home entertainment performance of Spy, the absence of revenue contributions from Shine and the adverse impact of the strengthened US dollar partially offset by higher television production network revenues. The OIBDA decline over the prior year primarily reflects lower contributions from the television production business due to higher deficits related to more new series delivered during the quarter and the absence of contributions from successful series that concluded in the prior year, including Sons of Anarchy, partially offset by higher film studio contributions driven by the worldwide theatrical performance of The Martian, which has grossed over $600 million in worldwide box office to date. Segment OIBDA comparisons were also adversely impacted by a 14 per cent negative impact from foreign exchange rate fluctuations.

  • Q3-2016: Lycos festival quarter revenue up 21%, PAT up 27%

    Q3-2016: Lycos festival quarter revenue up 21%, PAT up 27%

    BENGALURU: Internet brand Lycos Internet Limited (Lycos) reported a 20.6 YoY jump in Total Income from Operations (TIO) and a 26.6 YoY increase in its profit after tax (PAT) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). Lycos reported TIO in Q3-2016 at Rs 718.27 crore as compared to Rs 595.67 crore in the corresponding prior year quarter. The current quarter’s TIO was 27.1 per cent more than the Rs 565.08 crore in the immediate trailing quarter Q2-2016.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    Lycos reported 26.6 per cent higher YoY PAT in the current quarter at Rs 125.17 crore (17.4 per cent margin) as compared to Rs 98.87 crore and was 19 per cent higher quarter on quarter (QoQ) as compared to Rs 105.16 crore (18.6 per cent margin).

    “The team has delivered great results in bringing home the numbers. Video and Programmatic advertising have dominated sales yet another quarter,” said Lycos chairman and CEO Suresh Reddy.  

    Let us look at the other numbers reported by Lycos:

    EBIDTA including other income in the current quarter was 22.3 per cent higher YoY at Rs 199.94 crore (27.8 per cent margin) as compared to Rs 163.42 crore (27.4 per cent margin) and was 9.4 per cent more QoQ as compared to Rs 182.72 crore (32.3 per cent margin).

    Total Expenditure in Q3-2016 increased 22.2 per cent YoY to Rs 538.44 crore (75 per cent of TIO) as compared to Rs 440.69 crore (74 per cent of TIO) and was 33.4 per cent higher QoQ than the Rs 403.57 crore (71.4 per cent of TIO).

    Employee Benefits Expense in the current quarter increased 15 per cent at Rs 33.20 crore (4.6 per cent of TIO) as compared to Rs 28.88 crore (4.8 per cent of TIO) in Q3-2015 and was 29.5 per cent more than the Rs 25.64 crore (4.5 per cent of TIO) in the immediate trailing quarter.

    Finance costs in Q3-2016 reduced by 28.4 per cent YoY to Rs 3.88 crore (0.5 per cent of TIO) as compared to Rs 5.42 crore (0.9 per cent of TIO) and reduced 5.1 per cent QoQ as compared to Rs 4.09 crore (0.7 per cent of TIO).

    Company’s take on business highlights for Q3-2016:

    Revenue from Digital Marketing Segment for Q3-2016 was Rs 609.35 crore, an increase of 32.94 per cent QoQ and an increase of 23.58 per cent YoY. PBT from Digital Marketing Segment for Q3-2016 was Rs 179.31 crore, an increase of 10.46 per cent Q-Q and an increase of 25.86 per cent YoY. Revenue from Software Development Segment for Q3 FY2015-16 was Rs 108.92 crore, an increase of 2.08 per cent QoQ and an increase of 6.18 per cent YoY.

    Lycos Advertising 

    Media Buying (Publishers): The company says that its participation in Adtech New York brought forth new businesses from existing publisher groups in expanding its business in more territories. Programmatic buying became an important part of Lycos’s media supply  

    Video Advertising

    A new video product: Vid-In was launched. Vid-In is an O&O placement, above the fold with good viewability and customization. It’s one of the premium video products in the market.
    Lycos also developed its mobile activity with the launch of mobile app supply. 

    Technology

    Business Intelligence: Lycos says that it is able to now optimise yield based on ad types and formats of the video players for its advertisers.

    Auto-tools development: The company says that it proceeded with the development of auto tools in the current qaurter, enabling advanced alert capabilities for best pricing on media. The tools also enable bid optimisation, which automatically finds the optimal bid in different demand side platforms. This solution has already been launched at one of Lycos’s larger client installs of Compass.

    Compass

    Compass: Lycos says that it released the header bidding solution to both manage a publisher’s auctions and participate in it as pre-bid partner. 

    Lycos Media

    The team is working on a major relaunch of the site and services across the network.

    Lycos Life

    The new edition of the Band and the Ring help users quickly and easily manage their online life.
    The most noticeable change users will experience is a new, customisable dashboard allowing people to see most of the features on a single screen. 
    Lycos claims that significant progress in the development of the marketing messaging for the brand ‘Life’ and the products. Initial testing started through Facebook and other stake holders through email.

    Apollo Lycos NetCommerce (APLY)

    A new company website was launched www.aplyindia.com
    A new product website was launched www.aplymart.com
    Demo of the platform for online stores is now open to all visitors.
    The company says that the first client is on board for cross-border commerce from the leather apparels/accessories segment. 

  • Q3-2016: Lycos festival quarter revenue up 21%, PAT up 27%

    Q3-2016: Lycos festival quarter revenue up 21%, PAT up 27%

    BENGALURU: Internet brand Lycos Internet Limited (Lycos) reported a 20.6 YoY jump in Total Income from Operations (TIO) and a 26.6 YoY increase in its profit after tax (PAT) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). Lycos reported TIO in Q3-2016 at Rs 718.27 crore as compared to Rs 595.67 crore in the corresponding prior year quarter. The current quarter’s TIO was 27.1 per cent more than the Rs 565.08 crore in the immediate trailing quarter Q2-2016.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    Lycos reported 26.6 per cent higher YoY PAT in the current quarter at Rs 125.17 crore (17.4 per cent margin) as compared to Rs 98.87 crore and was 19 per cent higher quarter on quarter (QoQ) as compared to Rs 105.16 crore (18.6 per cent margin).

    “The team has delivered great results in bringing home the numbers. Video and Programmatic advertising have dominated sales yet another quarter,” said Lycos chairman and CEO Suresh Reddy.  

    Let us look at the other numbers reported by Lycos:

    EBIDTA including other income in the current quarter was 22.3 per cent higher YoY at Rs 199.94 crore (27.8 per cent margin) as compared to Rs 163.42 crore (27.4 per cent margin) and was 9.4 per cent more QoQ as compared to Rs 182.72 crore (32.3 per cent margin).

    Total Expenditure in Q3-2016 increased 22.2 per cent YoY to Rs 538.44 crore (75 per cent of TIO) as compared to Rs 440.69 crore (74 per cent of TIO) and was 33.4 per cent higher QoQ than the Rs 403.57 crore (71.4 per cent of TIO).

    Employee Benefits Expense in the current quarter increased 15 per cent at Rs 33.20 crore (4.6 per cent of TIO) as compared to Rs 28.88 crore (4.8 per cent of TIO) in Q3-2015 and was 29.5 per cent more than the Rs 25.64 crore (4.5 per cent of TIO) in the immediate trailing quarter.

    Finance costs in Q3-2016 reduced by 28.4 per cent YoY to Rs 3.88 crore (0.5 per cent of TIO) as compared to Rs 5.42 crore (0.9 per cent of TIO) and reduced 5.1 per cent QoQ as compared to Rs 4.09 crore (0.7 per cent of TIO).

    Company’s take on business highlights for Q3-2016:

    Revenue from Digital Marketing Segment for Q3-2016 was Rs 609.35 crore, an increase of 32.94 per cent QoQ and an increase of 23.58 per cent YoY. PBT from Digital Marketing Segment for Q3-2016 was Rs 179.31 crore, an increase of 10.46 per cent Q-Q and an increase of 25.86 per cent YoY. Revenue from Software Development Segment for Q3 FY2015-16 was Rs 108.92 crore, an increase of 2.08 per cent QoQ and an increase of 6.18 per cent YoY.

    Lycos Advertising 

    Media Buying (Publishers): The company says that its participation in Adtech New York brought forth new businesses from existing publisher groups in expanding its business in more territories. Programmatic buying became an important part of Lycos’s media supply  

    Video Advertising

    A new video product: Vid-In was launched. Vid-In is an O&O placement, above the fold with good viewability and customization. It’s one of the premium video products in the market.
    Lycos also developed its mobile activity with the launch of mobile app supply. 

    Technology

    Business Intelligence: Lycos says that it is able to now optimise yield based on ad types and formats of the video players for its advertisers.

    Auto-tools development: The company says that it proceeded with the development of auto tools in the current qaurter, enabling advanced alert capabilities for best pricing on media. The tools also enable bid optimisation, which automatically finds the optimal bid in different demand side platforms. This solution has already been launched at one of Lycos’s larger client installs of Compass.

    Compass

    Compass: Lycos says that it released the header bidding solution to both manage a publisher’s auctions and participate in it as pre-bid partner. 

    Lycos Media

    The team is working on a major relaunch of the site and services across the network.

    Lycos Life

    The new edition of the Band and the Ring help users quickly and easily manage their online life.
    The most noticeable change users will experience is a new, customisable dashboard allowing people to see most of the features on a single screen. 
    Lycos claims that significant progress in the development of the marketing messaging for the brand ‘Life’ and the products. Initial testing started through Facebook and other stake holders through email.

    Apollo Lycos NetCommerce (APLY)

    A new company website was launched www.aplyindia.com
    A new product website was launched www.aplymart.com
    Demo of the platform for online stores is now open to all visitors.
    The company says that the first client is on board for cross-border commerce from the leather apparels/accessories segment. 

  • Q3-2016: ENIL reports 23% YoY revenue

    Q3-2016: ENIL reports 23% YoY revenue

    BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 22.9 per cent YoY increase in Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 143.57 crore as compared to the Rs 117.69 crore and 23.5 per cent higher QoQ as compared to Rs 116.27 crore in the immediate trailing quarter.

    The company’s profit after tax (PAT) in Q3-2016 declined 18.8 per cent to Rs 26.99 crore (18.8 per cent margin) as compared to Rs 32.84 crore (28.1 per cent margin) and was flat QoQ as compared to Rs 26.97 crore (23.2 per cent margin) in Q2-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore.

    Notes: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

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

    Let us look at some of the other numbers reported by ENIL:

    The company’s EBIDTA in Q3-2016 at Rs 49.74 crore (34.6 per cent margin) was 11.6 per cent higher YoY as compared to Rs 44.58 crore (38.2 per cent margin) and was 39.3 per cent higher QoQ as compared to Rs 35.71 crore (30.7 per cent margin) in the previous quarter.

    ENIL total expense (TE) in Q3-2016 at Rs 102.74 crore (71.6 per cent of TIO) was 27.6 per cent higher YoY as compared to Rs 80.53 crore (69 per cent of TIO) and was 13.1 per cent higher QoQ as compared to Rs 90.86 crore (78.1 per cent of TIO) in Q2-2016.

    ENIL paid 17.5 per cent higher license fee in Q3-2016 at Rs 6.87 crore (4.8 per cent of TIO) as compared to Rs 5.84 crore (five per cent of TIO), but 12.3 per cent lower than the Rs 7.83 crore (6.7 per cent of TIO) in Q2-2016.

    The company’s marketing expense in Q3-2016 at Rs 31.78 crore (22.1 per cent of TIO) was 53.3 per cent more YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) and was more than double (2.06 times) QoQ as compared to Rs 15.47 crore (13.3 per cent of TIO) in Q2-2016.

    The company’s programming and royalty expenses in the current quarter increased 20.6 per cent to Rs 4.77 crore (3.3 per cent of TIO) as compared to Rs 3.96 crore (3.4 per cent of TIO) in the corresponding year ago quarter and was 13.1 per cent higher than the Rs 4.22 crore (3.6 per cent of TIO) in Q2-2016.

    Other expenses in Q3-2016 at Rs 25.72 crore (17.9 per cent of TIO) was 24 per cent higher YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) but was 18 per cent lower as compared to Rs 31.37 crore (21 per cent of TIO) in the immediate trailing quarter.

    Employee Benefit Expense (EBE) in Q3-2016 at Rs 24.70 crore (17.2 per cent of TIO) was 16.5 per cent more YoY as compared to Rs 21.21 crore (18.2 per cent of TIO) and was 14 per cent more QoQ as compared to Rs 21.67 crore (18.6 per cent of TIO).

    ENIL managing director and CEO Prashant Panday said, “The festive quarter has been a terrific one for us! We have grown by 23 per cent in Q3 this year after having grown at 19 per cent in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see rapid growth in the years to come. The next five years belong to radio!”

    ENIL’s participation in the first batch of Phase-3 auctions resulted in an expansion of its footprint into seven new towns namely Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

    Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has recently launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent the airport.

  • Q3-2016: ENIL reports 23% YoY revenue

    Q3-2016: ENIL reports 23% YoY revenue

    BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL) reported 22.9 per cent YoY increase in Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) at Rs 143.57 crore as compared to the Rs 117.69 crore and 23.5 per cent higher QoQ as compared to Rs 116.27 crore in the immediate trailing quarter.

    The company’s profit after tax (PAT) in Q3-2016 declined 18.8 per cent to Rs 26.99 crore (18.8 per cent margin) as compared to Rs 32.84 crore (28.1 per cent margin) and was flat QoQ as compared to Rs 26.97 crore (23.2 per cent margin) in Q2-2016. The company had entered the Rs 100 crore PAT club in FY-2015 with a PAT of Rs 105.98 crore (24.2 per cent margin) on a TIO of Rs 483.48 crore.

    Notes: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore

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

    Let us look at some of the other numbers reported by ENIL:

    The company’s EBIDTA in Q3-2016 at Rs 49.74 crore (34.6 per cent margin) was 11.6 per cent higher YoY as compared to Rs 44.58 crore (38.2 per cent margin) and was 39.3 per cent higher QoQ as compared to Rs 35.71 crore (30.7 per cent margin) in the previous quarter.

    ENIL total expense (TE) in Q3-2016 at Rs 102.74 crore (71.6 per cent of TIO) was 27.6 per cent higher YoY as compared to Rs 80.53 crore (69 per cent of TIO) and was 13.1 per cent higher QoQ as compared to Rs 90.86 crore (78.1 per cent of TIO) in Q2-2016.

    ENIL paid 17.5 per cent higher license fee in Q3-2016 at Rs 6.87 crore (4.8 per cent of TIO) as compared to Rs 5.84 crore (five per cent of TIO), but 12.3 per cent lower than the Rs 7.83 crore (6.7 per cent of TIO) in Q2-2016.

    The company’s marketing expense in Q3-2016 at Rs 31.78 crore (22.1 per cent of TIO) was 53.3 per cent more YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) and was more than double (2.06 times) QoQ as compared to Rs 15.47 crore (13.3 per cent of TIO) in Q2-2016.

    The company’s programming and royalty expenses in the current quarter increased 20.6 per cent to Rs 4.77 crore (3.3 per cent of TIO) as compared to Rs 3.96 crore (3.4 per cent of TIO) in the corresponding year ago quarter and was 13.1 per cent higher than the Rs 4.22 crore (3.6 per cent of TIO) in Q2-2016.

    Other expenses in Q3-2016 at Rs 25.72 crore (17.9 per cent of TIO) was 24 per cent higher YoY as compared to Rs 20.73 crore (17.8 per cent of TIO) but was 18 per cent lower as compared to Rs 31.37 crore (21 per cent of TIO) in the immediate trailing quarter.

    Employee Benefit Expense (EBE) in Q3-2016 at Rs 24.70 crore (17.2 per cent of TIO) was 16.5 per cent more YoY as compared to Rs 21.21 crore (18.2 per cent of TIO) and was 14 per cent more QoQ as compared to Rs 21.67 crore (18.6 per cent of TIO).

    ENIL managing director and CEO Prashant Panday said, “The festive quarter has been a terrific one for us! We have grown by 23 per cent in Q3 this year after having grown at 19 per cent in the same quarter last year. With the roll-outs of Phase-3 stations well underway, we hope to see rapid growth in the years to come. The next five years belong to radio!”

    ENIL’s participation in the first batch of Phase-3 auctions resulted in an expansion of its footprint into seven new towns namely Chandigarh, Kochi, Kozhikode, Jammu, Srinagar, Guwahati and Shillong.

    Radio Mirchi with Delhi International Airport (P) Limited (DIAL) has recently launched ‘Mirchi T3’ radio at Terminal 3 of Delhi Airport. With Mirchi T3, Radio Mirchi looks to cater to the niche group of premium listeners who frequent the airport.

  • Q3-2016: TV Today revenue up 18%; PAT up 40%

    Q3-2016: TV Today revenue up 18%; PAT up 40%

    BENGALURU: Following revenue and profit growth in the previous quarter, TV Today Network Limited (TVTN) reported 18.1 per cent YoY increase in standalone Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) to Rs 149.67 crore as compared to Rs 126.88 crore and 17.8 per cent higher QoQ as compared to Rs 127.04 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers in this report are standalone unless stated otherwise.

    Profit after tax (PAT) for Q3-2016 increased 40.1 per cent YoY to Rs 36.90 crore (24.7 per cent margin) as compared to Rs 26.34 crore (20.8 per cent margin) and 51.8 per cent higher QoQ as compared to Rs 24.32 crore (19.1 per cent margin). 

    The company had sold four of its radio stations at Amritsar, Patalia, Jodhpur and Shimla on 18 September, 2015 to Entertainment Network (India) Limited (ENIL) as an ongoing concern for a lump sum consideration of Rs 4 crore adjusted for net working capital as a sale agreement. The transaction resulted in a profit of Rs 2.07 crore included in ‘Other Income’. 

    The company had sought permission from the Ministry of Information and Broadcasting to grant approval of its three radio stations in New Delhi, Mumbai and Kolkata, which was subsequently refused. Subsequently, TVTN has filed a writ petition at the High Court in New Delhi against the MIB’s refusal, which is still pending.

    EBIDTA calculated for Q3-2016 at Rs 55.82 crore (37.3 per cent margin) increased 27.7 per cent YoY as compared to Rs 43.71 crore (34.5 per cent margin) and was 27.7 per cent higher QoQ as compared to Rs 35.71 crore (28.1 per cent margin).

    Segment revenue

    TVTN’s Television Broadcasting segment (TV segment) reported a 16.6 per cent YoY increase in operating revenue in Q3-2016 at Rs 147.65 crore as compared to Rs 126.68 crore and 18.7 per cent more QoQ as compared to Rs 124.43 crore in Q2-2016. Operating profit from the segment in the current quarter increased 49.1 per cent YoY to Rs 54.48 crore as compared to Rs 39.22 crore and 49.1 per cent higher QoQ as compared to Rs 36.68 crore.

    The company’s radio segment reported 49.4 per cent YoY decline in operating revenue at Rs 2.02 crore as compared to Rs 4 crore, and 22.5 per cent lower operating revenue as compared to Rs 2.61 crore in the immediate trailing quarter. The segment’s operating loss in the current quarter was higher at Rs 2.54 crore as compared to the operating loss of Rs 1.94 crore in Q3-2015 but lower than the operating loss of Rs 5.48 crore in Q2-2016.

    Rebranding of Headlines Today to India Today

    In Q1-2016, TVTN rebranded its English news channel from Headlines Today to India Today from 23 May, 2015 in order to benefit from the brand name of India Today. TVTN says that it incurred a marketing expense of Rs 14.38 crore towards re-branding in that quarter. Consequently, the company’s advertisement, distribution and sales promotion expense (ad expense) in Q1-2016 was Rs 38.24 crore (30.1 per cent of TIO). This quarter, TVTN’s ad expense was one per cent lower YoY at Rs 24.82 crore (16.6 per cent of TIO) as compared to Rs 25.06 crore (19.8 per cent of TIO) but was 5.5 per cent more than Rs 23.53 crore (18.5 per cent of TIO) in Q2-2016.

    Let us look at the other numbers reported by TVTN

    Total Expenditure in Q3-2016 at Rs 101.24 crore (67.5 per cent of TIO) was 11.7 per cent higher YoY as compared to Rs 86.20 crore (71.4 per cent of TIO) and was two per cent higher QoQ as compared to Rs 99.03 crore (78 per cent of TIO) in the previous quarter.

    Production cost in Q3-2016 increased 14.9 per cent YoY to Rs 13.75 crore (9.2 per cent of TIO) as compared to Rs 11.96 crore (9.4 per cent of TIO) and almost flat (up 0.2 per cent) QoQ as compared to Rs 13.72 crore (10.8 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 37.26 crore (24.9 per cent of TIO) was 19.5 per cent higher YoY as compared to Rs 31.19 crore (20.7 per cent of TIO) and was 11.6 per cent higher QoQ as compared to Rs 33.38 crore (26.3 per cent of TIO) was 16 per cent higher YoY as compared to Rs 28.78 crore.

    Other expenses in Q3-2016 at Rs 18.02 crore (12 per cent of TIO) was 22 per cent higher YoY as compared to Rs 14.77 crore (11.7 per cent of TIO), but was 12.9 per cent lower QoQ as compare to Rs 20.71 crore (16.3 per cent of TIO).

  • Q3-2016: TV Today revenue up 18%; PAT up 40%

    Q3-2016: TV Today revenue up 18%; PAT up 40%

    BENGALURU: Following revenue and profit growth in the previous quarter, TV Today Network Limited (TVTN) reported 18.1 per cent YoY increase in standalone Total Income from Operations (TIO) in the quarter ended 31 December, 2015 (Q3-2016, current quarter) to Rs 149.67 crore as compared to Rs 126.88 crore and 17.8 per cent higher QoQ as compared to Rs 127.04 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers in this report are standalone unless stated otherwise.

    Profit after tax (PAT) for Q3-2016 increased 40.1 per cent YoY to Rs 36.90 crore (24.7 per cent margin) as compared to Rs 26.34 crore (20.8 per cent margin) and 51.8 per cent higher QoQ as compared to Rs 24.32 crore (19.1 per cent margin). 

    The company had sold four of its radio stations at Amritsar, Patalia, Jodhpur and Shimla on 18 September, 2015 to Entertainment Network (India) Limited (ENIL) as an ongoing concern for a lump sum consideration of Rs 4 crore adjusted for net working capital as a sale agreement. The transaction resulted in a profit of Rs 2.07 crore included in ‘Other Income’. 

    The company had sought permission from the Ministry of Information and Broadcasting to grant approval of its three radio stations in New Delhi, Mumbai and Kolkata, which was subsequently refused. Subsequently, TVTN has filed a writ petition at the High Court in New Delhi against the MIB’s refusal, which is still pending.

    EBIDTA calculated for Q3-2016 at Rs 55.82 crore (37.3 per cent margin) increased 27.7 per cent YoY as compared to Rs 43.71 crore (34.5 per cent margin) and was 27.7 per cent higher QoQ as compared to Rs 35.71 crore (28.1 per cent margin).

    Segment revenue

    TVTN’s Television Broadcasting segment (TV segment) reported a 16.6 per cent YoY increase in operating revenue in Q3-2016 at Rs 147.65 crore as compared to Rs 126.68 crore and 18.7 per cent more QoQ as compared to Rs 124.43 crore in Q2-2016. Operating profit from the segment in the current quarter increased 49.1 per cent YoY to Rs 54.48 crore as compared to Rs 39.22 crore and 49.1 per cent higher QoQ as compared to Rs 36.68 crore.

    The company’s radio segment reported 49.4 per cent YoY decline in operating revenue at Rs 2.02 crore as compared to Rs 4 crore, and 22.5 per cent lower operating revenue as compared to Rs 2.61 crore in the immediate trailing quarter. The segment’s operating loss in the current quarter was higher at Rs 2.54 crore as compared to the operating loss of Rs 1.94 crore in Q3-2015 but lower than the operating loss of Rs 5.48 crore in Q2-2016.

    Rebranding of Headlines Today to India Today

    In Q1-2016, TVTN rebranded its English news channel from Headlines Today to India Today from 23 May, 2015 in order to benefit from the brand name of India Today. TVTN says that it incurred a marketing expense of Rs 14.38 crore towards re-branding in that quarter. Consequently, the company’s advertisement, distribution and sales promotion expense (ad expense) in Q1-2016 was Rs 38.24 crore (30.1 per cent of TIO). This quarter, TVTN’s ad expense was one per cent lower YoY at Rs 24.82 crore (16.6 per cent of TIO) as compared to Rs 25.06 crore (19.8 per cent of TIO) but was 5.5 per cent more than Rs 23.53 crore (18.5 per cent of TIO) in Q2-2016.

    Let us look at the other numbers reported by TVTN

    Total Expenditure in Q3-2016 at Rs 101.24 crore (67.5 per cent of TIO) was 11.7 per cent higher YoY as compared to Rs 86.20 crore (71.4 per cent of TIO) and was two per cent higher QoQ as compared to Rs 99.03 crore (78 per cent of TIO) in the previous quarter.

    Production cost in Q3-2016 increased 14.9 per cent YoY to Rs 13.75 crore (9.2 per cent of TIO) as compared to Rs 11.96 crore (9.4 per cent of TIO) and almost flat (up 0.2 per cent) QoQ as compared to Rs 13.72 crore (10.8 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 37.26 crore (24.9 per cent of TIO) was 19.5 per cent higher YoY as compared to Rs 31.19 crore (20.7 per cent of TIO) and was 11.6 per cent higher QoQ as compared to Rs 33.38 crore (26.3 per cent of TIO) was 16 per cent higher YoY as compared to Rs 28.78 crore.

    Other expenses in Q3-2016 at Rs 18.02 crore (12 per cent of TIO) was 22 per cent higher YoY as compared to Rs 14.77 crore (11.7 per cent of TIO), but was 12.9 per cent lower QoQ as compare to Rs 20.71 crore (16.3 per cent of TIO).

  • Q3-2016: NDTV’s YoY revenue flat, operating loss lower

    Q3-2016: NDTV’s YoY revenue flat, operating loss lower

    BENGALURU: New Delhi Television Limited (NDTV) reported flat (down one per cent) year-on year (YoY) Total Income from Operations (TIO) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). NDTV reported TIO of Rs 148.41 crore for Q3-2016 as compared to Rs 149.93 crore and 16.3 per cent higher QoQ growth as compared to Rs 127.60 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers In this report are consolidated unless stated otherwise.

    The company reported a lower operating loss (EBIDTA) of Rs 4.45 crore in Q3-2016 as compared to an operating profit of Rs 13.44 crore (nine per cent margin) in Q3-2015 and an operating loss of Rs 10.91 crore in Q2-2016.

    The company reported a net loss of Rs 12.54 crore as compared to a profit after tax of Rs 1.58 crore (1.1 per cent margin) in Q3-2015 and a higher net loss of Rs 17.19 crore in the immediate trailing quarter.

    Television Media and related operations segment:

    Television Media and related operations (Television segment) also include numbers from the company’s Digital business. Television segment reported 2.2 per cent YoY revenue growth at Rs 147.96 crore as compared to Rs 144.74 crore and 18.1 per cent QoQ revenue growth and that of Rs 125.25 crore in the immediate trailing quarter.

    The segment reported operating loss of Rs 3.44 crore in the current quarter as compared to an operating profit of Rs 13.41 crore in Q3-2015 and a higher loss of Rs 8.41 crore in the immediate trailing quarter.

    Retail/E-Commerce segment:

    NDTV’s Retail/E-commerce segment reported lower revenue of Rs 3.85 crore in the current quarter as compared to Rs 6.06 crore in Q3-2015 and revenue of Rs 3.95 crore in Q2-2016. The segment reported a higher operating loss of Rs 6.50 crore in Q3-2016 as compared to an operating loss of Rs 6.02 crore in Q3-2015 and a higher operating loss of Rs 10.89 crore in Q2-2016.

    Let us look at the other numbers reported by NDTV:

    Total Expenditure (TE) in the current quarter increased 9.6 per cent YoY to Rs 159.89 crore (107.7 per cent of TIO) as compared to Rs 145.94 crore (97.3 per cent of TIO) and increased 7.5 per cent as compared to Rs 148.77 crore (116.6 per cent of TIO) in Q2-2016.

    NDTV’s consolidated Production Expense increased 6.3 per cent YoY to Rs 30.42 crore (20.5 percent of TIO) as compared to Rs 28.63 crore (19.1 per cent of TIO) and increased 7.5 per cent as compared  Rs 27.41 crore in Q2-2016.

    The company’s marketing, distribution and promotional expense (Marketing expense) in the current quarter increased 18.1 per cent YoY to Rs 36.50 crore (24.6 per cent of TIO) and increased 20.5 per cent as compared to Rs 30.28 crore (23.7 per cent of TIO) in the immediate trailing quarter. 

    NDTV’s Employee Benefit Expense increased 9.7 per cent YoY in the current quarter to Rs 50.72 crore (34.2 per cent of TIO) as compared to Rs 46.24 crore (30.8 per cent of TIO) and increased 6.5 per cent as compared to Rs 47.63 crore (37.3 per cent of TIO).

    Operating and administration expenses in Q3-2016 increased 24.8 per cent YoY to Rs 34.60 crore (23.3 per cent of TIO) as compared to Rs 27.73 crore (18.5 per cent of TIO) and grew 10.1 per cent QoQ as compared to Rs 31.42 crore (24.6 per cent of TIO).

    Finance Costs in the current quarter increased 4.8 per cent YoY to Rs 5.49 crore (3.6 per cent of TIO) as compared to Rs 5.05 crore (3.4 per cent of TIO) and increased 1.1 per cent QoQ as compared to Rs 5.23 crore (3.6 per cent of TIO).

    Company speak:

    The company says that two start-ups have been funded:

    BandBaajaa.com – designed to launch NDTV into the online wedding and festival planning market was funded by leading US venture capital firm CerraCap Ventures at a valuation of $20 million.

    SmartCooky.com – NDTV’s foray into creating an online marketplace for health foods & personal care products raised funding from VLCC founder Vandana Luthra and others at a valuation of $12 million.

    Gadgets360.com – NDTV’s Gadget Portal

    NDTV says Gadgets360’s e-commerce business clocked product sales of Rs 21 crore till January 2016 within two months of the launch while maintaining a positive contribution margin. NDTV says that Gadget360 shipped more than 20,000 gadgets during the aforesaid period.

  • Q3-2016: NDTV’s YoY revenue flat, operating loss lower

    Q3-2016: NDTV’s YoY revenue flat, operating loss lower

    BENGALURU: New Delhi Television Limited (NDTV) reported flat (down one per cent) year-on year (YoY) Total Income from Operations (TIO) for the quarter ended 31 December, 2015 (Q3-2016, current quarter). NDTV reported TIO of Rs 148.41 crore for Q3-2016 as compared to Rs 149.93 crore and 16.3 per cent higher QoQ growth as compared to Rs 127.60 crore.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers In this report are consolidated unless stated otherwise.

    The company reported a lower operating loss (EBIDTA) of Rs 4.45 crore in Q3-2016 as compared to an operating profit of Rs 13.44 crore (nine per cent margin) in Q3-2015 and an operating loss of Rs 10.91 crore in Q2-2016.

    The company reported a net loss of Rs 12.54 crore as compared to a profit after tax of Rs 1.58 crore (1.1 per cent margin) in Q3-2015 and a higher net loss of Rs 17.19 crore in the immediate trailing quarter.

    Television Media and related operations segment:

    Television Media and related operations (Television segment) also include numbers from the company’s Digital business. Television segment reported 2.2 per cent YoY revenue growth at Rs 147.96 crore as compared to Rs 144.74 crore and 18.1 per cent QoQ revenue growth and that of Rs 125.25 crore in the immediate trailing quarter.

    The segment reported operating loss of Rs 3.44 crore in the current quarter as compared to an operating profit of Rs 13.41 crore in Q3-2015 and a higher loss of Rs 8.41 crore in the immediate trailing quarter.

    Retail/E-Commerce segment:

    NDTV’s Retail/E-commerce segment reported lower revenue of Rs 3.85 crore in the current quarter as compared to Rs 6.06 crore in Q3-2015 and revenue of Rs 3.95 crore in Q2-2016. The segment reported a higher operating loss of Rs 6.50 crore in Q3-2016 as compared to an operating loss of Rs 6.02 crore in Q3-2015 and a higher operating loss of Rs 10.89 crore in Q2-2016.

    Let us look at the other numbers reported by NDTV:

    Total Expenditure (TE) in the current quarter increased 9.6 per cent YoY to Rs 159.89 crore (107.7 per cent of TIO) as compared to Rs 145.94 crore (97.3 per cent of TIO) and increased 7.5 per cent as compared to Rs 148.77 crore (116.6 per cent of TIO) in Q2-2016.

    NDTV’s consolidated Production Expense increased 6.3 per cent YoY to Rs 30.42 crore (20.5 percent of TIO) as compared to Rs 28.63 crore (19.1 per cent of TIO) and increased 7.5 per cent as compared  Rs 27.41 crore in Q2-2016.

    The company’s marketing, distribution and promotional expense (Marketing expense) in the current quarter increased 18.1 per cent YoY to Rs 36.50 crore (24.6 per cent of TIO) and increased 20.5 per cent as compared to Rs 30.28 crore (23.7 per cent of TIO) in the immediate trailing quarter. 

    NDTV’s Employee Benefit Expense increased 9.7 per cent YoY in the current quarter to Rs 50.72 crore (34.2 per cent of TIO) as compared to Rs 46.24 crore (30.8 per cent of TIO) and increased 6.5 per cent as compared to Rs 47.63 crore (37.3 per cent of TIO).

    Operating and administration expenses in Q3-2016 increased 24.8 per cent YoY to Rs 34.60 crore (23.3 per cent of TIO) as compared to Rs 27.73 crore (18.5 per cent of TIO) and grew 10.1 per cent QoQ as compared to Rs 31.42 crore (24.6 per cent of TIO).

    Finance Costs in the current quarter increased 4.8 per cent YoY to Rs 5.49 crore (3.6 per cent of TIO) as compared to Rs 5.05 crore (3.4 per cent of TIO) and increased 1.1 per cent QoQ as compared to Rs 5.23 crore (3.6 per cent of TIO).

    Company speak:

    The company says that two start-ups have been funded:

    BandBaajaa.com – designed to launch NDTV into the online wedding and festival planning market was funded by leading US venture capital firm CerraCap Ventures at a valuation of $20 million.

    SmartCooky.com – NDTV’s foray into creating an online marketplace for health foods & personal care products raised funding from VLCC founder Vandana Luthra and others at a valuation of $12 million.

    Gadgets360.com – NDTV’s Gadget Portal

    NDTV says Gadgets360’s e-commerce business clocked product sales of Rs 21 crore till January 2016 within two months of the launch while maintaining a positive contribution margin. NDTV says that Gadget360 shipped more than 20,000 gadgets during the aforesaid period.