ITV

Category: Financials

  • TV18’s News business records 23 per cent revenue jump in Q3

    TV18’s News business records 23 per cent revenue jump in Q3

    Mumbai : TV18’s news business has registered a strong jump of 23 per cent in revenue in the third quarter of the current financial year.

    India’s one of the largest TV news network registered a revenue of Rs 402 crore in Q3FY24, as compared to Rs 327 crore for the same quarter last fiscal.

    TV18’s portfolio continued to be the highest reach TV news network in the country, reaching 175 million people around the country every week. The TV news portfolio of the network consists of 20 news channels in 16 languages.

    The increase in the revenue comes on the back of the network’s strong viewership gains and leading positions in key markets with CNBC TV18 (80%+ viewership share), News18 India (13.8 per cent evening primetime viewership share) and CNN-News18 (33.2 per cent viewership share) being the number one channels in their respective segments. The news network also has leadership in 3 regional markets, including UP/Uttarakhand, Bihar/Jharkhand, and Gujarat.

    In Q2 FY24 also, the TV news network registered 20% revenue growth, as compared to Q2 FY23. In the first nine of the current financial year, the TV news network posted a revenue of Rs 1095 crore, as compared to Rs 891 crore in the first nine months of last fiscal.

    TV18

    Digital News Business sees 20% growth

    The digital news platforms of the group, housed under Network18, also saw a solid 20 per cent growth. The Digital news business posted a revenue of Rs 111 crore in Q3 FY24, as compared to Rs 92 crore in Q3 FY23. The digital news business of the group includes popular brands such as Moneycontrol, News18.com and Firstpost. Network18 continued to be a #2 digital publisher in the country with 195 mn4 unique visitors every month. The group is also leveraging its product to scale up on Digital.

  • I&B sector in FDI surges 231 per cent rise in FY23

    I&B sector in FDI surges 231 per cent rise in FY23

    Mumbai: The Information and Broadcasting sector has seen a 231 per cent rise in foreign direct investment, as per media reports.

    According to the Department of Promotion of Industry and Internal Trade, in FY23 I&B got Rs 3745 crore as compared to Rs 1,129 crore in the last financial year.

    While the film and advertising categories got Rs 811 crore as FDI, radio broadcasting benefited by Rs nine crore.

    In Q4 FDI in the sector more than doubled to Rs 820 crore, as compared to Rs 375 crore in the same quarter last year.

  • Honda Cars India records Rs 1430 crore profit in FY’23

    Honda Cars India records Rs 1430 crore profit in FY’23

    Mumbai: Honda Cars India has recorded Rs 1430 crore profit after tax and has posted a 521 per cent jump in FY’23. The automobile brand had recorded Rs 230 crore profit after tax in FY’22, having remained in losses since 2020.

    Honda Cars India posted a 14 per cent increase in revenues for FY ’23 at Rs 14,439.71 crore, which was fuelled by increased exports and improved volumes in the domestic market. The highest-ever export volume of 22,764 units during the year 2022-23, registered a growth of approximately 17 per cent since last year.

    The directors’ report stated that 2022-23 has been a year of consolidation, post-Covid. Although the year started again with supply chain disruption triggered due to geo-political factors, a mix of improved chip supplies, higher incomes and pent-up demand, especially for SUVs supported sales of vehicle manufacturers.

    The financial report stated that the passenger vehicle segment posted the highest-ever domestic sales of 3.9 million units, surpassing the previous peak in 2018-19, and an annual growth of 27 per cent. Buying ahead of implementation of new RDE emission norms, and strong demand during the festival season also drove sales of passenger vehicles.

    The report further stated that the Amaze’s sales grew by 33 per cent since last financial year and are one of the most preferred family sedans in India. The company had registered annual domestic sales of 91,418 units during FY ’23 recording a growth of seven per cent over 85,609 units sold in the last financial year.

  • I&B ministry expenditure for the 2021-22 fiscal was Rs 3728.99 cr

    I&B ministry expenditure for the 2021-22 fiscal was Rs 3728.99 cr

    Mumbai: The ministry of information & broadcasting has released its “Accounts At A Glance for 2021–2022.” The total budget for the years 2021–22 was Rs 4,079.71 crore (revenue and capital), while the capital budget stood at Rs 21.10 crore and the revenue budget at Rs 4,058.61 crore.

    Against this budget, the actual expenditure was Rs 3,728.99 crore (Rs 3,707.90 crore on the revenue side and Rs 21.09 crore on the capital side). In 2019–20, expenditure was Rs 4,032.36 crore, and in 2020–21, the figure was Rs 3,380.44 crore.

    The expenditure on broadcasting was Rs 2,790.71 crore. In information, it was Rs 593.54 crore. It was Rs 259.29 crore in the film. The secretariat spent a total of Rs 85.45 crore.

    Grants-in-aid amounting to Rs 2790.71 crore were given to Prasar Bharati. During the last three years, the Ministry has released a sum of Rs 8,823.60 crore to Prasar Bharati. Revenue earned from DTH was Rs 1,581.41 crore.

    During the last three years, the ministry has released Rs 93.13 crore as grants-in-aid to the Indian Institute of Mass Communications, of which Rs 27.15 crore were released in the years 2021–22. During the last three years, the ministry has released Rs 28.91 crore as grants-in-aid to the Press Council of India, of which Rs 11.85 crore was released in the years 2021–22.

    The Press Information Bureau has spent Rs 286.23 crore on its various activities over the last three years.

  • Sun TV puts up a good show in Q1 FY 23-24

    Sun TV puts up a good show in Q1 FY 23-24

    Mumbai: Amongst all the broadcast companies, one can’t really fault the Kalanathi Maran-owned Sun TV network. The company is doing well – in fact phenomenally well – as compared to the other players in the same space. Take a look at its performance during the first quarter ended 30 June 2023. For one, it has rewarded shareholders with an interim dividend of Rs 6.25 per Rs 5 share (125 per cent dividend). Then its profit after taxes rose 18.53 per cent to Rs 5828 million as against Rs 4916.8 million in the corresponding quarter ended 30 June 2022.

    Its EBITDA too is up 2.96 per cent to RS 7864.6 million as against 7638.3 million the year earlier.

    This at a time when its ad revenues dropped to  Rs 3391 million in the latest quarter as against Rs  3431.7 million in the 2022 quarter.  The drop was offset by a 6.02 per cent increase in subscriptions to Rs 4353.4 million from Rs  4106.1 million. Top line too was in good humour as it rose 10.38 per cent to Rs 13,177.8 million as against RS 11,939 million in the previous corresponding period.

     

  • Zee Enterprises Q1 results: Reports 21 per cent revenue growth YoY

    Zee Enterprises Q1 results: Reports 21 per cent revenue growth YoY

    Mumbai: Zeel has announced Q1 results on 9 August, reporting a 7.6 per cent YoY growth in total operating revenue. ZEEL’s All India TV Network Share in the quarter declined 30 basis points sequentially to 17 per cent. The company saw TV viewership improve sequentially.

    The company declared that its subscription revenue YoY was up 18 per cent, driven by pick up in subscription revenue post NTO 3.0 & ZEE5.

    The company shared, “Content continues to perform well and strong engagement continues – Zee Music Company (ZMC) is the 2nd Largest Music Label with ~137Mn Subscribers on YouTube.”

    ZEEL saw programming and technology cost increase YoY due to higher content costs in movies, including theatrical releases, and investment in the over-the-top OTT platform ZEE5. ZEE5’s revenue in the quarter grew 21 per cent to Rs 194 crore.

  • Affle reports strong performance for Q1 FY2024

    Affle reports strong performance for Q1 FY2024

    Mumbai: Affle (India) Ltd, a consumer intelligence-driven global technology company, has announced results for the first quarter ended 30 June 2023. 

    Consolidated Performance Highlights

    Q1 FY2024 Highlights (y-o-y): 

    ▪ Revenue from operations of Rs. 406.6 crore, an increase of 17.0 per cent y-o-y  

    ▪ EBITDA at Rs. 78.1 crore, an increase of 13.7 per cent y-o-y  

    ▪ PAT at Rs. 66.2 crore, an increase of 21.4 per cent y-o-y

    Q1 FY2024 Highlights (q-o-q): 

    ▪ Revenue up by 14.3 per cent q-o-q  

    ▪ EBITDA up by 9.0 per cent q-o-q

    ▪ PAT up by 6.0 per cent q-o-q

     Affle reported a strong performance for Q1 FY2024 with a consolidated revenue from operations of Rs.  406.6 crore, an increase of 17.0 per cent y-o-y from revenue of Rs. 347.5 crore in Q1 last year. EBITDA stood at Rs. 78.1 crore, an increase of 13.7 per cent y-o-y. PAT up by 21.4 per cent y-o-y to Rs. 66.2 crore from Rs. 54.5 crore in Q1 last year. PAT margin expanded by 0.5 per cent and stood at 15.9 per cent in Q1 FY2024 as compared to 15.4 per cent in Q1 last year. This growth was broad-based coming from both CPCU business and non-CPCU  business, across India & International markets. 

    The CPCU business noted strong momentum delivering 6.9 crore converted users in Q1 FY2024, and the CPCU revenue stood at Rs. 377.8 crore, an increase of 17.1 y-o-y. The top industry verticals for the company continued to be resilient, helping it register a robust growth anchored on CPCU business model and disciplined focus on higher profitability with margin expansion on a y-o-y basis. 

    Commenting on the results, Affle MD and CEO Anuj Khanna Sohum said:  

    “We commenced FY2024 on a positive trajectory and are elated to close yet another quarter of robust growth having achieved our highest quarterly revenue run-rate ever in Q1 FY2024. This quarter too  witnessed the accelerated broad-based growth in ad spends powered by our unique ROI-linked CPCU  business model, coming across our top industry verticals. 

    This performance was a result of strategic efforts to enhance our consumer-centric platform offerings, further verticalise our capabilities towards high-growth industries, leverage acquisitive synergies and the disciplined execution from our teams. 

    We further fortified our solutions with unique ad placements across OEM and Operator app stores in  India & International markets. We also globally rolled out CPCU model on Connected TV (CTV) with household sync capabilities, empowering advertisers to reach users across screens and derive greater  ROI with cross-device targeting. 

    We are agile and continue to reinvent ourselves to leverage the evolving market dynamics & technological trends to drive sustainable value creation for all our stakeholders.”

  • Zomato Q1: Reports net profit of Rs two crores for the first time

    Zomato Q1: Reports net profit of Rs two crores for the first time

    Mumbai: Zomato reported a consolidated net profit of Rs two crore for the quarter ended June 2023 against a loss of Rs 186 crore in the corresponding quarter of the last financial year.The company reported a loss of Rs 189 crore in the quarter ended March.

    The revenue from operations for the reporting quarter stood at Rs 2,416 crore which was up nearly 71 per cent YoY against Rs 1,414 crore reported by the company in the year-ago period.The quarterly earnings were announced during the market hours and the stock jumped over 2 per cent on the NSE.The company in its exchange filing said that the quick commerce (Blinkit) business turned contributive positive for the first time ever in the month of June 2023.

    The consolidated adjusted EBITDA stood at Rs 12 crore, versus a loss of Rs 152 crore in Q1FY23. The adjusted EBITDA margin stood at 0.4 per cent, up by nine percentage points YoY. The adjusted revenue excluding the quick commerce business stood at Rs 2,402 crore which was up 33 per cent YoY.

    The company reported a jump in its gross order value (GOV) for the reporting quarter at Rs 7,318 crore versus Rs 6,425 crore in the corresponding quarter of the previous financial year. It was also up sequentially from Rs 6,569 crore in the March quarter. The average monthly transacting customers were at 1.75 crore in Q1FY24 versus 1.67 crore in the year-ago period.

  • Q1 FY24 revenue jumps 32 per cent YoY to Rs. 612 Cr., EBITDA reported at Rs 130 Cr

    Q1 FY24 revenue jumps 32 per cent YoY to Rs. 612 Cr., EBITDA reported at Rs 130 Cr

    Mumbai: Best Agrolife Ltd. (BAL) (BSE: 539660) has reported financial results for the Quarter ended 30 June 2023.

    Key Results Highlights (FY23 Consolidated):

    .    Revenue from operations for Q1 FY24 stood at Rs 612 cr which grew by 141 per cent QoQ and 32 per cent on YoY basis compared to Rs 254 cr in Q4FY23 and Rs 464 cr in Q1FY23

    .    Gross margin for the quarter is at 30 per cent as compared to 19 per cent in Q4FY23 and 21 per cent in Q1FY23 which was an expansion of 1100bps QoQ and expansion of 900bps YoY.

    .    EBITDA for the quarter came at Rs 130 cr up 1720 per cent QoQ and 97 per cent.YoY compared to seven crores in Q4FY23 and Rs. 66 cr in Q1FY23. The improvement in EBITDA was driven by better product mix during Q1 FY24

    .    EBITDA margin for the quarter came at 21 per cent as compared to three per cent in Q4FY23 and 14 per cent in Q1FY23 which was an expansion of 1800bps QoQ and expansion of 700 bps YoY.

    .    PAT for the quarter was at Rs 90 cr, up 1168 per cent QoQ and 124 per cent YoY compared to Rs eight crores in Q4FY23 and Rs. 40 cr in Q1FY23.

    .    PAT margin for the quarter came at 15 per cent as compared to three per cent in Q4FY23 and nine per cent in Q1FY23 which was an expansion of 1800 bps QoQ and expansion of 600 bps YoY.

    Key Business highlights for Q1 FY24:

    Products Launched during Q1 FY24:

    .    BAL launched two herbicide products during the quarter, Propiquazafop and Ametryn under the brand name Propique and Amito respectively

    Harnessing Clean Energy

    .    Best Crop Science Pvt. Ltd.(BCS), a wholly owned subsidiary of BAL, has entered a PPA and SHA for the supply of 3MW solar energy from a plant in UP which will be used to power the manufacturing unit in Gajraula. With this, BAL anticipates 33 per cent per unit of electricity cost savings while achieving a reduction of over 4,000 tonnes in carbon emissions.

    Approvals and Registration received:

    .    BAL is the First Indian Agrochemical Manufacturer that has been granted registration for indigenous manufacturing of the product Trifloxystrobin 10 per cent + Difenoconazole 12.5 per cent + Sulphur three per cent Sc under section 9 (3) FIM. This will be a patented product under the brand name Tricolor. This combination effectively controls Sheath Blight, Powdery Mildew, Scab and Alternaria in Rice, Grapes, Tomato, Chili, Wheat, Mango and Apple.

    .    Best Crop Science has been granted the registrations for Technical Indigenous manufacturing of Diclosulam technical 94 per cent minimum, Boscalid technical 96 per cent minimum and Dimethomorph technical 95.5 per cent minimum from Central Insecticides Board & Registration Committee (CIBRC). Diclosulam is a broadleaf herbicide used to control weeds in Soyabean and Peanut crops. Boscalid is a foliar fungicide against a broad range of fungal pathogens in a wide range of crops, including vegetables and other crops. Dimethomorph is a systemic fungicide that protects Potato, Tomato and Grape crops from fungi in the water mould family, such as root rot, crown rot, late blight and downy mildew.

    .    Seedlings India, BAL’s fully owned subsidiary has been granted registration to manufacture Pyroxasulfone 85 per cent WG domestically in accordance with section 9(3) FIM vs FIT. This is a herbicide for Wheat, Corn and Soyabean. Pyroxasulfone market is worth over Rs 450 cr and BAL is confident in reaching Rs 125 Cr penetration in the first year after introduction.

    Capex Update:

    .    Brownfield expansion with a Capex plan of Rs 200 cr in technical manufacturing unit Best Crop Science Private Limited (a wholly owned subsidiary of the Company) and market footprint expansion is making good progress.

    Product Pipeline for FY24:

    .    BAL has a pipeline of eight+ products to be launched during the course of FY24 which includes a couple of patented products as well as some niche combination products and technicals.

    Commenting on results, Best Agrolife Ltd. managing director Vimal Kumar said, “I am delighted to share that Best Agrolife has achieved remarkable growth momentum, with revenue from operations growing by 32% Y-o-Y to Rs. 612 Cr, despite the headwinds that the agrochemicals industry has been facing. Our herbicide portfolio products including Amito, Propique, Tombo, Ronfen and Warden have been the driving force behind this quarter’s growth. Additionally, our EBITDA margins of 21% can be attributed to the increasing contribution of speciality, niche, and patented products to our overall revenue.

    This quarter’s performance also reinforces the widespread acceptance of our products and Best Agrolife’s strong brand presence in the Indian agrochemical market. Focusing on FY24, we have already launched a couple of technicals in Q1, which are seeing promising traction, with plans to introduce one patented product in Q2. Our pipeline for technicals and niche formulations is geared up for launch over the next few quarters.

    While the agrochemicals industry continues to face challenges, I firmly believe that our niche product basket will not only shield us from industry perils, but also drive robust growth in FY24. This gives us a reason to remain steadfast in our commitment to achieving a 30% growth target and maintaining 20% EBITDA margins for FY24.”

  • UFO Moviez reports Q1FY24 results

    UFO Moviez reports Q1FY24 results

    Mumbai: UFO Moviez, India’s in-cinema advertising platform, with the power to impact almost 1.7 billion viewers annually through 3,234 screens under the PRIME and POPULAR channels across 1,181 cities & towns, has announced its financial results for the quarter ended 30 June 2023.      

    Financial Highlights:  

    Quarter ended June 30, 2023

    Theatrical revenues marked an improvement due to continued healthy performance of regional movies and the success of mid-budget Hindi movies during the quarter. The corporate advertisement revenue marked the best quarter post-pandemic. Despite constraints in the Government advertisement sales, the overall business saw improvement, turning PAT positive this quarter for the first time after the onset of the pandemic.  

    Consolidated Revenues stood at ₹853 mn versus ₹906 mn in Q1FY23,  

    EBITDA improved to ₹163 mn versus ₹98 mn in Q1FY23,

    PBT stood at ₹36 mn versus negative ₹27 mn in Q1FY23,

    PAT is at ₹25 mn versus negative ₹26 mn in Q1FY23.

    “Fiscal year 2024 commenced on a positive note, and Q1FY24 marked a significant milestone for the company as it achieved profitability after tax for the first time since Q4FY20, showcasing the improvement in the overall business,” stated UFO Moviez India Ltd. group CEO & executive director Rajesh Mishra. “The strategic implementation of cost optimization measures has helped strengthen the company’s financial performance. Additionally, the uptick in theatrical revenues and corporate advertisement has further contributed to the improvement in overall business. With recent announcements of strategic joint ventures and an exciting line-up of upcoming releases, we are optimistic that the business will experience substantial growth in near future.”