ITV

Category: Financials

  • ZEEL reports 24 per cent higher PAT in FY-2014: Advt, Subs revenues up 21, 11 per cent

    ZEEL reports 24 per cent higher PAT in FY-2014: Advt, Subs revenues up 21, 11 per cent

    Updated: 07:07 PM

     

    BENGALURU: The Subhash Chandra led content and broadcast player Zee Entertainment Enterprises Limited (ZEEL) reported a 23.98 per cent increase in PAT for FY-2014 at Rs 892.08 crore (20.18 per cent of total income from operations) as compared to the Rs 718.15 crore (19.45 per cent of total income from operations) in FY-2013.

     

    PAT in Q4-2014 at Rs 217.58 crore (18.78 per cent of total income from operations) was 1.87 per cent higher than the Rs 213.59 crore (17.97 per cent of total income from operations) in Q3-2014 and 21.15 per cent more than the Rs 179.60 crore (18.63 per cent of total income from operations) in Q4-2013.

     

    Chandra informed that the ZEEL board had recommended a dividend of Re 1 per share.

     

    Notes: (1) The results mentioned in this report are consolidated results of ZEEL and its subsidiaries.

     

    (2) 100,00,000=100 lakh = 1 crore = 10 million

     

    The company reported a 21.19 per cent jump in advertising revenues to Rs 2380.05 crore (53.83 per cent of total income from operations) in FY-2014 as compared to the Rs 1963.87 crore (53.08 per cent of total income from operations) in FY-2013.

     

    ZEEL’s subscription revenue in FY-2014 at Rs 1802.22 crore (40.76 per cent of total income from operations) was 11.02 per cent more than the Rs 1623.38 crore (43.88 per cent of total income from operations) in FY-2013. The company says that domestic subscription revenue in FY-2014 was Rs 1318.4 crore registering a growth of 13.2 per cent over the last fiscal and international subscription revenue at Rs 483.9 crore was 5.5 per cent more than the previous year.

     

    ZEEL’s total operating income including other sales and services in FY-2014 at Rs 4421.70 crore was 19.52 per cent more than the Rs 3699.57 crore in FY-2013.

     

    The company says that its sports channels recorded revenue of Rs 195.9 crore and incurred costs of Rs 160.8 crore in Q4-2014.

     

    Let us look at the other FY-2014 and Q4-2014 numbers reported by ZEEL

     

    However, quarter-on-quarter, its advertising revenue was (-14.90) per cent lower in Q4-2014 at Rs 582.36 crore (50.26 per cent of total income from operations) as compared to the Rs 684.31 crore (59.05 per cent of total income from operations) in the immediate trailing quarter and just 1.98 per cent more than the Rs 454.55 crore (49.70 per cent of total income from operations) in Q4-2013.

     

    ZEEL reported a 1.54 per cent growth in subscription revenue in Q4-2014 at Rs 463.54 crore (40 per cent of total income from operations) as compared to the Rs 456.49 crore (38.41 per cent of total income from operations) in the immediate previous quarter Q3-2014, and 1.98 per cent more than the Rs 455.55 crore (47.14 per cent of total income from operations) in Q4-2013.  ZEEL says that domestic subscription revenue at Rs 334.4 crore and international subscription was Rs 129.2 crore in Q4-2014.

     

    ZEEL’s total operating income including other sales and services in Q4-2014 at Rs 1158.81 crore was (-2.49) per cent lower than the Rs 1188.36 crore in Q3-2014 and 20.17 per cent more than the Rs 964.29 crore in Q4-2013.

     

    The company reported 17.32 per cent rise in total expense to Rs 3267.54 crore (73.90 per cent of total income from operations) in FY-2014 as compared to the Rs 2785.18 crore (75.28 per cent of total income from operations) in FY-2013.

     

    ZEEL’s total expense in Q4-2014 was (-4.93) per cent lower at Rs 866.15 crore (74.74 per cent of total income from operations) as compared to the Rs 911.10 crore (76.67 per cent of total income from operations) in Q3-2014 and 18.09 per cent more than the Rs 733.49 crore (76.07 per cent of total income from operations) in the year ago quarter Q4-2013.

     

    A major expense head for ZEEL is operation cost. In FY-2014, ZEEL reported 18.89 per cent higher operation cost at Rs 2068.79 crore (46.79 per cent of total income from operations) than the Rs 1740.08 crore (47.04 per cent of total income from operations) in FY-2013.

     

    The company reported Rs 544.42 crore (46.98 per cent of total income from operations) as operation cost in Q4-2014 which was (-10.68) per cent lower than the Rs 609.50 crore (51.29 per cent of total income from operations) in Q3-2014 and 16.61 per cent more than the Rs 466.88 crore (48.42 per cent of total income from operations) in Q4-2013.

     

    Other expense in FY-2014 at Rs 758.10 crore (17.14 per cent of total income from operations) was 15.55 per cent more than the Rs 656.10 crore (17.73 per cent of total income from operations) in FY-2013. Other expense at Rs 202.97 crore (17.52 per cent of total income from operations) in Q4-2014 was 5.57 per cent more than the Rs 192.27 crore in Q3-2014 (16.18 per cent of total income from operations) and 18.25 per cent more than the Rs 171.64 crore (17.80 per cent of total income from operations) in Q4-2013.

     

    ZEEL reported a 25.70 per cent jump in depreciation and amortisation cost (DACC) in FY-2014 to Rs 50.13 crore as compared to the Rs 39.88 crore in FY-2013. DACC in Q4-2014 was higher by 40.46 per cent at Rs 18.92 crore in Q4-2014 as compared to the Rs 13.47 crore in Q3-2014 and 65.1 per cent more than the Rs 11.46 crore in Q4-2013.

     

    ZEEL’s finance costs too were higher by 84.56 per cent in FY-2014 at Rs 15.78 crore in FY-2014 as compared to the Rs 8.55 crore in FY-2014. In Q4-2014, the company reported finance cost of Rs 7.02 crore which was more than double (2.2 times) the Rs 3.19 crore in Q4-2014 and 2.47 times the Rs 2.84 crore in Q4-2013.

     

    ZEEL chairman Chandra said, “Indian economy continued to grow at a sluggish pace of less than 5 per cent in FY-2014. This has continued to put pressure on overall advertising spends which have barely touched the double digit mark. To some extent, election related spends have helped. The good part is that with a stable government, growth is expected to pick up. We expect that despite a slow economy, television media industry will continue its double digit growth.

    “Fiscal 2014 was a landmark year for the television industry in many ways. On the one hand it marked the implementation of the 12 minute advertising cap by majority of the broadcasters. On the other hand, it saw the implementation of the second phase of digitization in 38 cities of the country. Also, it saw the change in television measurement metric from GRP to TVTs and the formation of a joint industry body for nationwide audience research, Broadcast Audience Research Council,” he added.

  • Other income cushions Balaji Telefims FY-2014 loss; board recommends dividend of Rs 0.4 per equity share

    Other income cushions Balaji Telefims FY-2014 loss; board recommends dividend of Rs 0.4 per equity share

    BENGALURU: Balaji Telefilms Limited (Balaji) reported consolidated loss of Rs (-17.2124) crore in FY-2014, a loss that was lowered by other income to the extent of Rs17.984 crore.  The company had reported PAT of Rs14.58 crore in FY-2013. Other income includes proceeds of Rs 6.73 crore from a Keyman Insurance Policy taken by the company in earlier years. Other Income in FY-2013 at Rs 18.38 crore was 2.17 per cent more than the current year.

     

    Three major segments contribute to Balaji’s revenue – Commissioned Programs, Sponsored Programs and Films according to the results the company has submitted to the bourses. The board of directors of Balaji have recommended a dividend of Rs 0.40 per (20 per cent) equity share of face value of Rs 2- each for FY-2014 as compared to a dividend of Rs 0.20 (10 per cent) in FY-2013.

     

    The company reported Rs133.48 crore as the revenue from Commissioned Programs in FY-2014, (-1.63) per cent lower as compared to the Rs 135.69 crore in FY-2013. Commissioned programs reported an operating profit of Rs 21.21 crore in FY-2014 as compared to a profit of Rs19.32 crore in FY-2013.

     

    Revenue from Sponsored Programs in FY-2014 was nil as compared to the Rs 4 crore in FY-2013. This segment result in FY-2014 was nil as compared to a loss of Rs (-2.04) crore in FY-2013.

     

    Balaji’s Films reported consolidated revenue of Rs 273.43 crore in FY-2014 more than six times as compared to revenue of Rs 44.63 crore in FY-2013. This segment reported an operating loss of Rs (-27.72) crore in FY-2014 as compared to an operating profit of Rs 2 crore in FY-2013.

     

    Let us look at the other numbers reported by the company.

     

    Balaji Telefilms reported consolidated revenue of Rs 407.46 crore in FY-2014, more than double (2.19 times) the Rs185.97 crore in FY-2013.

     

    The company’s total expense in FY-2014 at Rs 435.97 crore was 2.34 times more than the Rs185.96 crore in FY-2013.

     

    Higher marketing and distribution expense, decrease in stock in trade are some of the major reasons for the increase in total expenditure.

     

    Balaji spent 6.125 times more money towards marketing and distribution expense at Rs 76.18 crore in FY-2014 as compared to the Rs 12.38 crore is FY-2013. The company showed a reduction in stock-in-trade of Rs 80.60 crore in FY-2014 which showed an increase in total expenditure as compared to an increase in stock-in-trade of Rs107.59 crore  which resulted in a reduction in total expenditure in FY-2013.

     

    The company has paid higher finance costs at Rs13.731 crore in FY-2014 as compared to the Rs 8.52 crore in FY-2013.

     

    Let us look at Balaji’s subsidiary companies

     

    Three companies – Balaji Telefilms (BTL), Balaji Motion Pictures Limited (BMPL) and Bolt Media Limited (Bolt) are a part of Balaji. Cost of Production / Acquisition and Telecast Fees is the highest expense head for all the three companies.

     

    BTL’s income from operations in FY-2014 was Rs131.54 crore, and the company reported a profit of Rs 10.02 crore in FY-2014. BTL paid Rs 100.60 crore in FY-2014 towards Cost of Production / Acquisition and Telecast Fees.

     

    BMPL had income from operation of Rs 271.69 crore in FY-2014 and the company reported a loss of Rs (-26.27) crore during the period. Cost of Production / Acquisition and Telecast Fees for BMPL was Rs 281.13 crore.

    .

     

    Bolt reported Operating revenue of Rs 4.75 crore in FY-2014 and an operating loss of Rs 0.93 crore. Cost of Production / Acquisition and Telecast for Bolt was Rs 3.76 crore.

     

    Balaji says that its revenue per commissioned hour for BTL in Q4-2014 was Rs 21.66 lakh as compared to Rs 21.18 lakh in Q3-2014 and Rs 22.30 lakh in Q4-2013. Excluding regional segment, event business and incentives, the company commissioned 173 hours in Q4-2014 which was same as the number of hours commissioned in Q3-2014 and 28.1 per cent more as compared to the 135 hours in Q4-2013.

     

    Balaji also says that two movies were released in Q4-2014 and six movies in FY-2014. It adds that Production cost comprises old films inventory amortisation and marketing and distribution expenses of films releasing in FY-2015.

  • Sensex sees a high with Modi win

    Sensex sees a high with Modi win

    MUMBAI: It is not only that BJP and the citizens of the largest democracy are rejoicing over the victory of Narendra Modi, who is set to swear in as the next Prime Minister. The hope that Modi had shown to people during his campaigns, has reflected on the sensex today. The S&P BSE Sensex had managed to rally over 1400 points in quick time on Friday.

    At 11:00 a.m.; sensex was trading 982 points higher or 4.1 per cent at 24887.82. It hit a low of 24,271.54 and a high of 25,375.63 in trade today. According to a news report in the Economic Time, a few cash rich companies will be a priority for investors now.

     

    According to another report by Financial Express, shares of Mukesh Ambani owned Reliance Industries Limited (RIL) increased by as much as 9 per cent.

     

    Mukesh Ambani-led Reliance Industries scrip surged 8.47 per cent to touch one-year peak of Rs 1,142.50 at the BSE. Shares of another listed-entity Reliance Industrial Infrastructure rose by 3.94 per cent to Rs 455.85.On the NSE, the blue-chip stock zoomed 8.71 per cent to hit its fresh 52-week high of Rs 1,145.25.

     

    Another market report available on Economic Times.com, mentions how the shares of the Adani group of companies have escalated to as much as10 per cent. The Group head Gautam Adani is known to be close to India next PM Narendra Modi as the mandate of the 16 Lok Sabha gave a humongous victory to the BJP.

     

    This Gujarat based company along with RIL, which has its oil refinery at Jamnagar is expected to gain the most with Modi’s win. At 09:30 a.m.; Adani Ports & Special Economic Zone was trading 3.4 per cent higher at Rs 227.85, Adani Enterprises was up 6.2 per cent to Rs 532.45 and Adani Power was trading 4.4 per cent higher at Rs 57.40. 

     

    The rupee meanwhile rallied to a 11 month high of 58 of 58.71 against the dollar early today due to persistent selling of the US currency by both banks and exporters on hopes of higher foreign capital inflows. The weakness of the dollar in the overseas market has also boosted the rupee value.

     

    Major business news channels and newspapers have said the stocks of certain companies like ICICI Bank, Axis Bank, PNB, BOI, Yes Bank, RIL, IOC, ONGC, GAIL, HPCL, Maruti Suzuki, M&M, Motherson Sumi and Apollo Tyres have gone bullish.. According to Economic times, United Phosphorus, Dhanuka Agritech, Lupin, Divis, Aurobindo Pharma, L&T, Voltas, Crompton Greaves, Cummins, TCS, Mind Tree, Tech Mahindra, HCL Tech, Tata Steel, Century Textile, DB Corp, Emami Ltd, IRB Infra, Havells India and Welspun India will outperform as the new government takes charge.

  • TV Today FY-2014 PAT quintuples, OYE! FM operating loss down 15 per cent

    TV Today FY-2014 PAT quintuples, OYE! FM operating loss down 15 per cent

    BENGALURU: TV Today Network Limited (TVTN), a part of the India Today group reported 5.02 times growth in standalone PAT in FY-2014 to Rs 61.32 crore (15.75 per cent of Income from Operations or Op Inc) as compared to the Rs 12.21 crore (3.9 per cent of Op Inc) in FY-2013.  In Q4-2014, the company reported PAT of Rs 15.85 crore (16.28 per cent of Op Inc), which was (-23.21) per cent lower than the Rs 20.65 crore (18.53 per cent of Op Inc) in the immediate trailing quarter Q3-2014 and almost two and a half times (2.49 times) the PAT of Rs 6.36 crore (7.54 per cent of Op Inc) in Q4-2013.

     

    Note: (1) Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.

     

    TVTN’s Radio Broadcasting segment (Oye! FM) under the brand Oye! FM reported a (-15.41) per cent reduction in operating loss to Rs (-11.24) crore in FY-2014 as compared to the Rs (-13.24) crore in FY-2013. However, Oye! FM’s Q4-2014 loss at Rs(-4) crore was 35.86 per cent more than the Rs (-2.90) crore in Q3-2014 and 45.98 per cent more than the Rs (-2.74) crore in Q4-2013.

     

    Let us look at some of the other numbers reported by TV Today for FY-2014 and Q4-2014

     

    TVTN reported 24.56 per cent higher Op Inc at Rs 389.44 crore in FY-2014 as compared to the Rs 312.67 crore in FY-2013. Op Inc for Q4-2014 at Rs 97.41 crore was (-12.57) per cent lower than the Rs111.42 crore in Q3-2014 and 15.59 per cent more than the Rs 84.27 crore in Q4-2013.

     

    Total Expense in FY-2014 at Rs 304.35 crore (78.15 per cent of Op Inc) was 2.29 per cent more than the Rs 297.55 crore (95.16 per cent of Op Inc) in FY-2013. In Q4-2014, Total Expense at Rs 77.31 crore (79.36 per cent of Op Ic) was (-5.99) per cent less than the Rs 82.23 crore (73.9 per cent of Op Inc) in Q3-2014 and (-0.74) per cent lower than the Rs 77.89 (92.43 per cent of Op Inc) crore in Q4-2013.

     

    Major expense heads include Employee Benefits Expense (EBE), which at Rs 92.97 crore (23.87 per cent of Op Inc) in FY-2014 was (-0.12) per cent lower than the Rs 93.09 crore (29.77 per cent of Op Inc) in FY-2013. Q4-2014 EBE at Rs 21.67 crore (22.25 per cent of Op Inc) was (-12.85) per cent lower than the Rs 24.87 crore (22.32 per cent of Op Inc) in Q3-2014 and (-6.05) per cent lower than the Rs 23.07 crore (27.38 per cent of Op Inc) in Q4-2013.

     

    Production Costs at Rs 40.85 crore (10.49 per cent of Op Inc) was 9.16 per cent more than the Rs 37.42 crore (11.97 per cent of Op Inc) in FY-2013. In Q4-2013, Production Cost at Rs 12.91 crore (13.25 per cent of Op Inc) was 18.93 per cent more than the Rs10.85 crore (9.74 per cent of Op Inc) and 24.57 per cent more than the Rs10.36 crore (12.29 per cent of Op Inc) in Q4-2013.

     

    Other Expense in FY-2014 at Rs 60.61 crore (15.56 per cent of Op Inc) was 7.04 per cent more than the Rs 56.62 crore in FY-2013. During Q4-2014, other expense at Rs19.27 crore (17.30 per cent of Op Inc) was 24.52 per cent higher than the Rs15.48 crore (13.89 per cent of Op Inc) in Q3-2014 and 29.38 per cent more the Rs14.90 crore (17.68 per cent of Op Inc).

     

    Segment Revenue

     

    Two segments – TV Broadcasting (TV) and FM Radio Broadcasting (Radio) contribute to TVTN’s revenues.

     

    TV segment reported 23.58 per cent growth in operating revenue to Rs 374.06 crore in FY-2014 as compared to the Rs 302.69 crore in FY-2013. TV’s Operating revenue in Q4-2014 at Rs 93.50 crore was (-12.66) per cent lower than the Rs 107.06 crore in Q3-2014 and 14.54 per cent more than the Rs 81.63 crore in Q4-2013.

     

    TV segment reported Operating profit of Rs 103.75 crore in FY-2014, more than triple (3.16 times) the Rs 32.79 crore in FY-2013. TV segment’s Operating profit in Q4-2014 at Rs 27.55 crore was (-18.36) per cent lower than the Rs 33.75 crore in Q3-2014 and more than double (2.36 times) the Rs11.69 crore in Q4-2013.

     

    Radio segment reported Operating revenue of Rs15.38 crore which was 54.17 per cent more than the Rs 9.98 crore in FY-2013. Operating revenue for the segment in Q4-2014 at Rs 3.91 crore was (-10.36) per cent lower than the Rs 4.37 crore in Q3-2014 and 48.11 per cent more than the Rs 2.64 crore in Q4-2013. Radio results have been mentioned above.

     

    Presently, TVTN runs four 24 hours news and current affairs television channels, namely Aaj Tak, Dilli Aaj Tak and Tez in Hindi and Headlines Today in English and six FM radio stations in Delhi, Kolkata, Amritsar, Patiala, Jodhpur and Mumbai under the name Oye! 104.8 FM.

  • Prime Focus FY-2014 PAT Rs 33 crore

    Prime Focus FY-2014 PAT Rs 33 crore

    BENGALURU: For FY-2014, Prime Focus Limited (Prime Focus) reported a PAT of Rs 33.04 crore as compared to a loss of Rs (-20.31) crore in FY-2013. Forex loss of Rs (-9.02) crore, non-cash reversal of deferred tax during the quarter are some of the factors that have added to the loss in Q4-2014 of Rs (-7.16) crore to Prime Focus as compared to a profit of Rs 10.33 crore in Q3-2014 and a profit of Rs 12.44 crore in Q4-2013.

     

    During FY-2014, Q4 is the only quarter that has reported an operational loss and a forex loss. Between Q1-2014 and Q3-2014, the company had reported a forex gain of Rs 38.23 crore, much more than the PAT reported by the company during the entire fiscal. The Q4-2014 forex loss reduced overall forex gains by the company in FY-2014 to Rs 29.21 crore.

     

    Click to read full report:

  • Q4-2014: Raj TV board recommends 5 per cent final dividend for FY-2014

    Q4-2014: Raj TV board recommends 5 per cent final dividend for FY-2014

    Updated: 03:58 PM

     

    BENGALURU: The shareholders of Raj Television Network (Raj TV) have further reason to cheer. The board has recommended a final dividend of 5 per cent or Rs 0.25 per equity share of face value of Rs 5 each, in addition to the earlier interim dividend of 5 per cent or Rs 0.50 per equity share on the earlier face value of Rs 10 before the split and issue of bonus shares during FY-2014. The company had issued bonus shares in the ratio of 1:1 after the earlier interim dividend in FY-2014.

     

    Raj TV reported a 17.68 per cent higher Income from Operations (Op Inc) in FY-2014 at Rs 79.47 crore as compared to the Rs 67.53 crore in FY-2013. However, Op Inc in Q4-2014 was (-28.13) per cent lower at Rs 17.91 crore than the Rs 24.92 crore in the immediate trailing quarter Q3-2014, and was 2.52 per cent more than the Rs17.47 crore of the year ago quarter Q4-2013.

     

    Note: (1) Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.

     

    Note: (2) The results in this report are standalone.

     

     Let us look at the other results reported by Raj TV for FY-2014 and Q4-2014

     

    PAT in FY-2014 at Rs12.91 crore (16.25 per cent of Op Inc) was 39.05 per cent higher than the PAT of Rs 9.29 crore (13.75 per cent of Op Inc) in FY-2013. In Q4-2014, PAT at Rs1.01 crore (5.62 per cent of Op Inc) was a little more than a fifth or (-79.82) per cent lower than the Rs 4.98 crore (20.01 per cent of Op Inc) in Q3-2014, but almost double (88.91 per cent more than) the Rs 0.53 crore (3.05 per cent of Op Inc) of Q4-2013.

     

    Raj TV’s Total Expense (Tot Exp) in FY-2014 at Rs 59.97 crore was 9.55 per cent more than the Rs 54.74 crore in FY-2014. Tot Exp in Q4-2014 at Rs15.45 crore was (-16.85) per cent lower than the Rs18.58 crore in Q3-2014 and 1.54 per cent more than the Rs15.22 crore in Q4-2013.

     

    Employee Benefits Expense (EBE) and Administrative and other Expenses (Admin exp) are two major expense heads at Raj TV. While EBE in Q4-2014 was substantially higher y-o-y despite almost similar Op Inc, Admin Exp in Q4-2014 was very high q-o-q, despite Raj TV’s Op Inc being much higher in Q3-2014 as compared to Q4-2014.

     

    Employee Benefits Expense in FY-2014 at Rs 17.60 crore (22.15 per cent of Op Inc) was 50.78 per cent more than the Rs11.68 crore (17.29 per cent of Op Inc) in FY-2013. EBE in Q4-2014 at Rs 4.74 crore (26.47 per cent of Op Inc) was (-31.1) per cent lower than the Rs 6.88 crore (27.61 per cent of Op Inc) and 41.02 per cent more than the Rs 3.36 crore (19.24 per cent of Op Inc) in Q4-2013.

     

    Administrative and other expense in FY-2014 at Rs 14.69 crore (18.48 per cent of Op Inc) was 32.46 per cent more than the Rs11.09 crore (16.42 per cent of Op Inc). During Q4-2014, Admin exp at Rs 4.41 crore (24.6 per cent of Op Inc) was 40.67 per cent more than the Rs 3.13 crore (12.57 per cent of Op Inc) in Q3-2014 and 2.2 per cent more than the Rs 4.31 crore (24.68 per cent of Op Inc) in Q4-2013.

     

    Raj TV has reported a 76.1 per cent increase in Long Term Borrowings (non-current liabilities) in FY-2014 at Rs 12.49 crore as compared to the Rs 7.05 crore in FY-2013. Also, in its current liabilities the company has reported a 3.52 times increase in short term borrowings in FY-2014 at Rs 24.97 crore as compared to the Rs 7.09 crore in FY-2013. The company’s trade receivables in FY-2014 at Rs 58.27 crore has gone up by 36.15 per cent as compared to the Rs 42.8 crore in FY-2013.

     

    Raj TV’s Fixed Assets in FY-2014 has gone up by 77.60 per cent to Rs113.99 crore as compared to the Rs 64.18 crore in FY-2013. Its inventories in FY-2014 have gone up by almost 6 times (5.76 times) to Rs 11.65 crore from Rs 2.02 crore in FY-2013. Its trades payables has gone down in FY-2014 to Rs 2.63 crore from Rs 3.48 crore in FY-2013.

     

    The company reported earnings per share (EPS) of Rs 9.43 per equity share in FY-2014 and Rs 0.19 in Q4-2014. 

  • DB Corp higher PAT on higher print, radio, and digital media ad revenue, business adjustments in FY-2014

    DB Corp higher PAT on higher print, radio, and digital media ad revenue, business adjustments in FY-2014

    BENGALURU: DB Corp Limited (DB Corp), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar reported improved results in Q4-2014 and its board has recommended a final dividend of Rs 4.25 per share for FY-2014.

     

    Note: (1) Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.

     

    The company reported a higher PAT at Rs 306.6 crore in FY-2014 as compared to the Rs 218.1 crore in FY-2013, which includes a onetime tax gain of Rs 14.9 crore, on account of demerger of digital media business.

     

    The company says that its FY-2014 consolidated advertising revenue grew by 17.4 per cent to Rs 1417.8 crore as against Rs1270.5 crore is FY-2013. The company says further that its radio business ad revenue grew by 19.2 per cent to Rs 80.1 crore from Rs 67.2 crore in FY-2013 and that its digital media ad revenue grew by about 54 per cent to Rs16.3 crore in Fy-2014 from Rs10.8 crore in FY-2013.

     

    Let us look at the figures for FY-2014 and Q4-2014 reported by DB Corp

     

    DB Corp’s Total Operating Income (Op Inc) in FY-2014 at Rs1895.76 crore was 16.8 per cent more than the Rs 1592.32 crore in FY-2013. Q4-2014 Op Inc at Rs 454.17 crore was (-12.36) per cent lower than the Rs 518.20 crore in Q3-2014 and 14.08 per cent more than the Rs 398.10 crore in the last year quarter Q4-2013.

     

    Total Expense (Tot Exp) in FY-2014 at Rs 1423.72 crore was 11.94 per cent more than the Rs 1271.91 crore in FY-2013. In Q4-2014, Tot Exp at Rs 366.02 crore was (-3.48) per cent lower than the Rs 379.21 crore in Q3-2014 and 14.67 per cent more than the Rs 319.19 crore in Q4-2013.

     

    Raw Material consumption (RM cost) forms a major portion of DB Corp’s expense (Between 33 and 37 per cent of Tot Inc). In FY-2014, DB Corp’s RM cost at Rs 632.95 crore (34.03 per cent of Op Inc) was 16.4 per cent more than the Rs 544.54 crore (34.20 per cent of Op Inc) in FY-2013. RM cost in Q4-2014 at Rs 166.59 crore (36.68 per cent of Op Inc) was (-3.37) per cent lower than the Rs 172.41 crore (33.27 per cent of Op Inc) in the immediate trailing quarter Q3-2014 and 24.57 per cent more than the Rs133.74 crore (33.57 per cent of Op Inc) in the corresponding quarter of last year.

     

    PAT in FY-2014 at Rs 306.64 crore (16.49 per cent of Op Inc) was 40.58 per cent more than the Rs 218.14 crore (13.7 per cent of Op Inc) in FY-2013. In Q4-2014, PAT at Rs 7.59 crore (1.67 per cent of Op Inc) was 1.67 per cent more than the Rs 9.45 crore (1.82 per cent of Op Inc) in Q3-2014 and (-86.26) per cent less than the Rs 55.26 crore (13.88 per cent of PAT) in Q4-2013.

     

    Segment Results

     

    Printing and Publishing of Newspaper and Periodicals segment

     

    Printing and Publishing of Newspaper and Periodicals (Printing) segment contributes more than 94 per cent to DB Corp’s total revenue. During FY-2014, Printing segment revenue of Rs 1762.16 crore (94.75 per cent of Op Inc) was 17.02 per cent more than the Rs 1505.86 crore (94.57 per cent of Op Inc) in FY-2013. Printing segment revenue in Q4-2014 at Rs 421.21 crore (94.28 per cent of Op Inc) was (-12.37) per cent lower than the Rs 488.63 crore in Q3-2014 and 13.87 per cent more than the Rs 376.06 crore (94.46 per cent of Op Inc) in Q4-2013.

     

    DB Corp’s Printing segment results in FY-2014 at Rs 458.9 crore was 32.63 per cent more than the Rs 345.97 crore in FY-2013. The company’s Q4-2014 result at Rs 95.5 crore was (-32.38) per cent less than the Rs 488.63 crore in Q3-2014 and 2.35 per cent more than the Rs 93.31 crore in Q4-2013.

     

    Radio Business segment

     

    DB Corp’s radio segment reported revenue of Rs 79.45 crore (4.27 per cent of Op Inc) in FY-2014 was 19.2 per cent more than the Rs 66.65 crore (4.19 per cent of Op Inc) in FY-2013. This segment’s Op Inc in Q4-2014 at Rs 21.37 crore (4.99 per cent of Op Inc) was (-10.28) per cent lower than the Rs 23.83 crore (4.88 per cent of Op Inc) in Q3-2014 and 17 per cent more than the Rs18.27 crore (4.59 per cent of Op Inc) in Q4-2013.

     

    This segment returned a positive result of Rs 20.56 crore in FY-2014 which was 89.18 per cent more than the Rs 10.87 crore in FY-2013. In Q4-2014, DB Corp’s radio business reported a result of Rs 7.19 crore which was (-15.47) per cent less than the Rs 8.51 crore in Q3-2014 and 75.73 per cent more than the Rs 4.09 crore in Q4-2014.

     

    The other segments –events, internet and power have reported very low numbers and have eroded the profits generated by DB Corp’s Printing and Radio business segments.

     

    DB Corp managing director Sudhir Agarwal, said, “We have delivered a robust operating performance this year amidst a challenging market environment. Our focus on sustaining and extending leadership in core markets, consistent focus on operational efficiencies as well as strong performance across non-print segments have enabled us to report significant growth.

     

    The Bhaskar way of journalism places the reader at the center. Our growth strategy revolves around this philosophy and as we have successfully done in the past – we have ensured that our strategies combine ‘knowledge enhancement’ for the reader and ‘product differentiation’ towards growth. Therefore, our earlier associations with leading media brands for exclusive, unique content have started delivering exciting results. This quarter, we re-aligned our corporate sales and marketing strategy supported by key senior management appointments – with the aim of providing greater focus to advertisers at every state level. Our Un-Metro – Markets Driving India initiative extensively analysed the potential of high-growth non-metro regions with inspiring participation by marketing stalwarts across Bengaluru, Mumbai and New Delhi, have also contributed significantly towards broadening our horizons. Our Bihar-Patna launch was an exciting challenge in that region and we are encouraged by an overwhelming response and wide acceptance; while our progress in Maharashtra continues well on course.

     

    DBCL’s non-print media segments have been making strong headway as we report commendable

     

    developments across our digital and radio properties. We have been leveraging our leadership strengths in print media – extending our editorial excellence and deep readership insights to make steady progress across digital and radio platforms. We are excited with the potential of post Phase 3 licensing and are well poised to strengthen our radio footprint.

     

    While the macro outlook does remain undefined, we are hopeful that, as we move towards political

     

    certainty, the consumer sentiment will become more positive and result in better growth across sectors. I am confident that with our clear strategic focus, strong business fundamentals, superior execution capabilities supported by a talented team, we will strive towards our vision to be the largest and most admired media brand as well as active socio-economic change agents.”

  • HT Media PAT up 24 per cent in FY-2014; Radio operating results triple

    HT Media PAT up 24 per cent in FY-2014; Radio operating results triple

    BENGALURU: HT Media Limited (HT Media) reported a 23.79 per cent jump in PAT in FY-2014 to Rs 207.53 crore (9.43 per cent of Total Operating Income or Tot Inc) as compared to the Rs 167.65 crore (8.18 per cent of Tot Inc) in FY-2013. The company’s radio segment reported a tripling (2.83 times) of operating results to Rs 20.96 crore in FY-2014 as compared to the Rs 7.40 crore in FY-2013. This segment seems to be going from strength to strength as it had reported a negative result of Rs (-4.38) crore in FY-2012.

     

    In Q4-2014, the radio segment result at Rs.4.81 crores was (-38.25) per cent lower than the Rs.7.79 crores in Q3-2014 and 4.58 times the Rs 1.05 crore in Q4-2013.

     

    Click here for the full report

  • Mahindra Holidays Sales & Mktg spends during Q4-2014 Rs 52.53 crore

    Mahindra Holidays Sales & Mktg spends during Q4-2014 Rs 52.53 crore

    BENGALURU: Mahindra Holidays & Resorts (India) Limited (Mahindra Holidays) spent Rs 52.5268 crore (24.03 per cent of Total Income or Tot Inc) towards Marketing and Sales Promotion (S & M) during Q4-2014, which was 1.47 per cent more than the Rs 51.77 crore (27.33 per cent of Tot Inc) during the immediate trailing quarter Q3-2014 and 5.75 per cent more than the Rs 49.67 crore (24.77 per cent of Tot Inc).  The company has the brand Club Mahindra.

    Note: Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million

    Mahindra Holidays S & M spends during FY-2014 at Rs 191.50 crore (24.63 per cent of Tot Inc) was 4.22 per cent more than the Rs 183.74 crore (26.19 per cent of Tot Inc). Over a nine quarter period starting Q1-2012 to Q4-2014, Mahindra Holidays S & M average ad spends has been 25.83 per cent of Tot Inc. While in terms of rupees spent, S & M spends show a slight upward linear trend during these nine quarters, in terms of percentage of Tot Inc, the linear trend is downwards. Similarly, over a three year period starting FY-2012 until FY-2014, the trend in absolute rupee terms has been upward, while in terms of percentage of Tot Inc, the trend is downward. Please refer to Fig 1 and Fig 1A below.

    The company reported a PAT of Rs 24.39 crore (11.15 per cent of Tot Inc) in Q4-2014, which was 20.09 per cent more than the Rs 20.31 crore (10.72 per cent of Tot Inc) in Q3-2014, but (-21.15) per cent less than the Rs 30.93 crore (15.42 per cent of Tot Inc) in Q4-2013. In FY-2014, Mahindra Holidays PAT at Rs 94.53 crore (12.16 per cent of Tot Inc) was (-11.63) per cent less than the Rs 106.98 crore (15.25 per cent of Tot Inc) in FY-2013.

    Mahindra Holidays Tot Inc in Q4-2014 at Rs218.62 crore was 15.4 per cent more than the Rs 189.44 crore in Q3-2014 and 9.02 per cent more than the Rs 200.54 crore in Q4-2013. In FY-2014, the company’s Tot Inc at Rs 777.52 crore was 10.83 per cent more than the Rs 701.55 crore in FY-2013. Please refer to Fig 2 and 2A below.

    The company says that it follows a two-pronged strategy – It provides a variety in holidaying options by rapidly increasing unique location footprint and attempts to enhance service levels and delight the customer at every touch point.

    Mahindra Holidays chairman Arun Nanda said, “I am happy to share that the month of March 2014 recorded the highest ever membership sale in the history of the company. We see this as the beginning of the next phase of growth for the company. However a lot remains to be done in the area of cost rationalization and productivity enhancements.”

     

  • Hindustan Media Ventures reports 32 per cent higher PAT in FY-2014

    Hindustan Media Ventures reports 32 per cent higher PAT in FY-2014

    BENGALURU: Hindi newspaper ‘Hindustan’, Hindi socio cultural magazine ‘Kadambini’ and children’s Hindi magazine ‘Nandan’ publishers Hindustan Media Ventures Limited (HMVL – not to be confused with HT Media Limited of Hindustan Times, Mint and Fever FM fame) reported a 31.58 per cent growth in PAT at Rs111.21 crore (15.24 per cent of Income from Operations or Op Inc) in FY-2014, as compared to the Rs 84.52 crore (13.28 per cent of Op Inc) in FY-2013.

     

    Note: Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million

     

    HMVL chairperson Shobhana Bhartia said, “We are glad to close the year with a strong growth in revenue and profitability. While our pricing initiatives have contributed to top-line growth, our sustained cost control measures have ensured an increase in profitability despite rising input costs.”

     

    “This year’s performance also reaffirms Hindustan’s dominance in Bihar and Jharkhand and its stature as the fastest growing daily in Uttar Pradesh and Uttarakhand. With a strong brand, growing readership, and healthy balance sheet, we are confident that we will continue to deliver value to our shareholders,” added Bhartia.

     

    Let us look at the other main numbers reported by HMVL for Q4-2014 and FY-2014

     

    HMVL PAT in Q4-2014 at Rs 27.21 crore (14.80 per cent of Op Inc) was (-5.21) per cent lower than the immediate trailing quarter Q3-2014 PAT of Rs 28.79 crore (15.26 per cent of Op Inc, but 19.87 per cent more than the year ago quarter Q4-2013 PAT of Rs 22.70 crore (14.61 per cent of Op Inc).

     

    HMVL reported slightly lower Op Inc in Q4-2014 at Rs183.18 crore (-2.53 per cent lower) than the Rs188.65 crore in Q3-2014, but 18.32 per cent higher than the Rs155.41 crore in Q3-2013.

     

    For FY-2014, HMVL Op Inc at Rs 729.72 crore was 14.69 per cent higher than the Rs 636.27 crore in FY-2013.

     

    HMVL Total Expense in Q4-2014 at Rs155.58 crore was (-1.09) per cent lower than the Rs157.30 crore in Q3-2014 and 18.52 per cent more than the Rs131.27 crore in Q4-2013. In FY-2014, Total Expense at Rs 600.04 crore was 10.02 per cent more than the Rs 545.41 crore in FY-2013.

     

    Raw materials constitute almost half of HMVL’s Total Expense. The company spent Rs 80.76 crore (51.91 per cent of Total Expense) in Q4-2014 which was 0.16 per cent more q-o-q than the Rs 80.63 crore (51.26 per cent of Total Expense) in Q3-2013 and 27.52 per cent more y-o-y than the Rs 63.33 crore (48.24 per cent of Total Expense) in Q4-2013. In FY-2013, the company spent Rs 300.44 crore towards raw materials (50.07 per cent of Total expense) which was 13.47 per cent more than the Rs 264.78 crore (48.55 per cent of Total Expense).

     

    The company says that EBITDA increased by 29 per cent to Rs 181.8 crore from Rs 141 crore primarily due to growth in advertising and circulation revenues.

     

    It says that growth was partially offset by increase in consumption of raw materials due to increase in newsprint price and consumption.

     

    It saw an 8 per cent increase in employee costs to Rs 86.6 crore from Rs 80.4 crore; a  7 per cent increase in other expenditure to Rs 191.4 crore from Rs 178.7 crore due to increase in advertising and sales promotions expense.