Category: Financials

Q3: Christmas, New Year delays invoicing at DQ Entertainment

BENGALURU: Christmas and New Year holidays resulted in invoicing delays and hence lower revenue for the Tapas Chakravarti-led DQ Entertainment (International) Ltd, (DQE). The company says that though deliveries for some products had been completed before December 31, 2013, approvals from its customers were delayed on account of the holidays, hence invoices have been raised in the fourth quarter.

The company reported consolidated revenue of Rs 50.85 crore for Q3-2014, 11.5 per cent more than the Rs 45.59 crore in Q3-2013 and 10.1 per cent lower than Rs 56.58 crore in Q2-2014.YTD, revenue in 9M-2014 was down 2.1 per cent to Rs 137.85 crore in Q3-2014 from Rs 140.86 crore in 9M-2013. For FY 2013, DQE reported revenue of Rs 229.05 crore.

DQE reported loss of Rs 1.24 crore in Q3-2014, against a profit of Rs 8.92 crore in Q3-2013 and a profit of Rs 22.72 crore in Q2-2014. YTD, for the nine month period ended December 31, 2013, DQE reported PAT of Rs 28.11 crore which was a little more than the double the Rs 14.01 crore in 9M-2013. For FY 2013, DQE’s PAT was Rs 37.31 crore.

Let us look at the other Q3-2014 numbers reported for Q3-2014

Total expense (excluding finance cost) at Rs 38.59 crore in Q3-2014 was 27.7 per cent more than the Rs 27.39 crore in Q3-2013 and 40.9 per cent more than the Rs 26.04 crore in Q2-2014. YTD, Total expense fell 22.5 per cent to Rs 84.89 crore from Rs 109.57 crore in 9M-2013. For FY 2013 Total expense was Rs 168.83 crore.

The company’s finance cost in Q3-2014 went up by 36.3 per cent to Rs 7.18 crore from Rs 5.27 crore in Q3-2013 and went up by 13.9 per cent from Rs 6.30 crore in Q2-2014. Finance Cost on a YTD basis was up 24.4 per cent to Rs 18.5 crore in Q3-2014 from Rs 14.87 crore in 9M-2013. For FY 2013, DQE paid Rs 20.94 crore towards Finance Cost.

The company’s Employee expense in Q3-2014 at Rs 18.64 crore was (12.9) per cent lower than the Rs 21.41 crore in Q3-2013 and 14.0 per cent lower than the Rs 19.74 crore in Q2-2014. In 9M-2014, Employee expense was 12.8 per cent down to Rs 58.61 crore from Rs 67.21 crore in 9M-2013. For FY 2013, Employee expense was Rs 87.58 crore.

Its other expense was up 26.9 per cent in Q3-2014 to Rs 8.26 crore from Rs 6.51 crore in Q3-2013 and was lower by 30.2 per cent from the Rs 11.83 crore in Q2-2014. Other expense was up 50.5 per cent to Rs 26.43 crore in 9M-2014 from Rs 17.57 crore in 9M-2013. For FY 2013, other expense was Rs 25.02 crore.

The company’s animation segment reported a 11.5 per cent drop in operating revenue in Q3-2014 to Rs 30.11 crore from Rs 34.03 crore in Q3-2013 and was 27.9 per cent lower than the Rs 41.77 crore in Q-2014. YTD, the company’s Animation segment reported operating revenue of Rs 98.18 crore which was 5.8 per cent more than the Rs 92.84 crore in 9M-2013. For FY 2013, this segment reported revenue of Rs 170.09 crore.

Animation segment reported an operating profit of Rs 13.79 crore in Q3-2014, 17.6 per cent lower than the Rs 16.72 crore in Q3-2013 and 46.1 per cent lower than the Rs 25.59 cores in Q2-2014. In 9M-2014, the segment reported operating profit of Rs 50.84 crore which was 31.5 per cent more than the Rs 38.67 crore in 9M-2013. For FY 2013, this segment reported operating profit of Rs 97.52 crore.

DQE’s other segment – distribution reported revenue of just Rs 0.69 crore in Q3-2014 as compared to the Rs 10.92 crore in Q3-2013 and the Rs 13.62 crore in Q2-2014. YTD, the segment’s operating revenue fell 14.3 per cent to Rs 15.3 crore from Rs 17.84 crore in 9M-2013. For FY 2013, this segment reported revenue of Rs 28.72 crore.

The segment reported a loss of Rs 3.99 crore for the current quarter as compared to a profit of Rs 7.51 crore in Q3-2013 and Rs 7.6 crore in Q2-2014. Over the nine month period ended December 31, 2013, the segment reported a 63.6 per cent drop in operating profit to Rs 1.75 crore from Rs 4.8 crore in 9M-2013. For FY 2013, Distribution segment reported operating loss of Rs 2.64 crore.

DQE’s reported an unallocated expense of Rs 11.54 crore in Q3-2014, which was 58.3 per cent more than the Rs 7.29 crore in Q3-2013 and almost four times the Rs 2.8 crore in Q2-2014.

The company states that its current order book stands at Rs 410 crore.

Says Chakravarti, “There is a clear upsurge in the economy of North America, however the economic slowdown in Europe still continues. DQE is making all efforts in North America to take benefit of increased demand for TV and movie content in animation, hybrid presentations as well as pure live action. This is evident from our advanced negotiations with production houses in the USA.”

“DQE with its track record of international high quality productions such as ‘Little Prince’, Iron Man, Fantastic Four, Jungle Book, Peter Pa, The Penguins of Madagascar, etc., should benefit from this renewed demand. The industry is also witnessing an increase for Visual Effects (VFX) content for animated feature films, live action thrillers & action films and Sci-Fi films from Hollywood, Europe and Japan. This will help DQE take advantage of its capabilities and trusted name for CGI/VFX production in USA and Europe. Our intellectual properties are also gathering momentum worldwide,” added Chakravarti.

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February 17, 2014
Film segment helps Tips report PAT in Q3

BENGALURU: Tips Industries Limited’s film distribution and production segment has reported operating profit of Rs 7.14 crore in Q3-2014, after losses in the first two quarters, helping the company report a net profit of Rs 6.38 crore in the third quarter.

The film segment had last reported operating profit of Rs 13.95 crore in Q4-2013. In Q2-2014, the film segment reported operating loss of Rs 19.6 crore, which completely wiped the operating profit generated by Tips Audio segment and resulted in a net loss of Rs 22.32 crore for the company.

In Q3-2013, the film segment had reported operating loss of Rs 2.08 crore, while the company had reported a PAT of Rs 0.63 crore.

The company’s audio products segment also reported operating profit of Rs 5.47 crore in the current quarter, which was 17.6 per cent lower than the Rs 6.63 crore in Q3-2013 and 55.6 per cent more than the Rs 3.51 crore in the immediate trailing quarter.

Let us look at the other figures reported by Tips for Q3-2014

Total operating income in Q3-2014 at Rs 43.59 crore was 5.2 times the Rs 8.68 crore operating income in Q3-2013 and 1.4 per cent more than the Rs 42.99 crore in Q2-2014.

Total expense for Q3-2014 at Rs 34.52 crore was 5.22 times the Rs 6.62 crore in Q3-2013 and 45 per cent lower than the Rs 62.67 crore in Q2-2014.

The company’s major cost head is cost of production/distribution of films. The company spent Rs 28.38 crore towards this head in Q3-2014, which was 23.44 times the Rs 1.21 crore in the corresponding quarter of the previous year and (47) per cent lower than the Rs 53.44 crore in Q2-2014.

Finance cost of Rs 3.04 crore for Q3-2013 was 2.59 times the Rs 1.18 crore in Q3-2013 and 2.1 per cent more than the Rs 2.98 crore in Q2-2013.

Tips audio segment operating income for Q3-2014 at Rs 7.08 crore was (15.6) per cent less than the Rs 8.39 crore in Q3-2013 9.2 per cent more than the Rs 6.48 crore in Q2-2014.

The company’s film segment reported income of Rs 36.5075 crore, almost the same as the Rs 36.5085 crore in the immediate trailing quarter. This segment had reported no income in Q3-2013.

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February 15, 2014
Den Networks reports higher revenue, lower PAT in Q3-2014

BENGALURU: Indian cable TV distribution company Den Networks Limited (Den Networks) reported 22.9 per cent consolidated revenue growth to Rs 297.24 crore in Q3-2014 as compared to the Rs 241.83 crore in Q3-2013 and a 7.5 per cent growth from Rs 276.58 crore in the immediate trailing quarter. YTD, Den Networks reported consolidated revenue of Rs 849.25 crore during nine months – 2014 which was 29 per cent more as compared to the Rs 658.54 crore during nine months (9M) – 2013. During FY 2013, Den Network’s Operating revenue was Rs 934.65 crore.

PAT (after minority interest) for the current quarter was down (59.1) per cent to Rs 7.02 crore in Q3-2014 as compared to the Rs 17.17 crore in Q3-2013 and was (37.2) per cent lower than the Rs 11.18 crore in the immediate trailing quarter. During 9M-2014, the company’s PAT at Rs 28.35 crore was down (37) per cent as compared to the Rs 44.94 crore in the corresponding nine month period of last year.

Let us look at the other Q3-2014 figures reported by Den Networks

Cable revenue for Q3 -2014 was Rs 281.00 crore as compared to Rs 229.66 crore in Q3 FY’13, up 22 per cent y-o-y and 7 per cent more than the Rs 263.32 crore in Q2-2014. Over 9M-2014, cable revenue was up 31 per cent to Rs 807.16 crore as compared to the Rs 617.18 crore in 9M-2013.

Cable EBIDTA in Q3-2014 was up 44 per cent to Rs 91.95 crore from Rs 63.63 crore in Q3-2013 and was up 3 per cent from Rs 89.43 crore in Q2-2014.During 9M-2014 EBIDTA was 80 per cent higher at Rs 267.21 crore than the Rs 148.64 crore in 9M-2013.

Den Networks Total expense for Q3-2014 at Rs 238.63 crore was up 17.19 per cent as compared to the Rs 203.63 crore in Q3-2013 and 6.3 per cent more than the Rs 224.43 crore in Q2-2014. YTD, the company’s Total expense during 9M-2014 at Rs 692.75 crore was 23.7 per cent more than the Rs 560.20 crore in 9M-2013. The company reported Total expense of Rs 777 crore in FY 2013.

The networks content cost in Q3-2014 at Rs 95.33 crore was 15 per cent higher than the Rs 82.93 crore in Q3-2013 and was 5.3 per cent more than the Rs 90.54 crore in the immediate trailing quarter. During 9M-2014, Den Networks paid Rs 270.88 crore towards content cost, which was 19.3 per cent more than the Rs 227.03 crore in 9M-2013. During FY 2013, the company paid Rs 298.8 crore towards this cost head.

Den Networks finance cost more than doubled (up 2.08 times) in Q3-2014 to Rs 24.40 crore from Rs 11.69 crore in Q3-2013 and was up 0.5 per cent from Q2-2014’s Rs 24.28 crore. YTD, in 9M-2014, the company paid Rs 696.94 crore which was 2.28 times the Rs 30.72 crore in 9M-2013. During FY 2013, finance cost was Rs 40.78 crore.

The company says that out of a total subscriber base of 1.3 crore homes, approximately 0.57 crore homes have been converted to digital. It claims to be present in 27 out of a total of 41 Phase 1 and 2 cities and approximately 0.5 crore set top boxes have been deployed in these markets.

Den Networks further says that it has an estimated analog base of 0.8 crore homes in its Phase 3 and 4 markets. The company says that is well capitalised to meet the deployment requirements of its existing subscriber base in these cities. More than 0.07 crore set top boxes have already been installed and the pace of deployment is expected to pick up rapidly as the deadline approaches. The company says that it has also launched digital services in several major cities and towns of Uttar Pradesh, Maharashtra, Bihar, Rajasthan and West Bengal over the last few months.

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February 15, 2014
Prime Focus Q3 PAT Rs 10.33 crore vs loss a year ago

BENGALURU: Indian visual effect and 3-D conversion company Prime Focus Limited has reported consolidated net profit of Rs 10.33 crore in the third quarter ended 31 December, 2013 against a loss of Rs 63.27 crore a year ago.

The consolidated net profit in the third quarter was, however, less than half of Rs 21.34 crore a quarter earlier. The company had a foreign exchange gain of Rs 20.37 crore (95.4 per cent of net profit) in the second quarter of 2013-14, against foreign exchange gain of Rs 3.80 crore in the third quarter.

In the nine months ended 31 December, 2013, Prime Focus reported exchange gain of Rs 38.23 crore, nearly four times Rs 9.76 crore gain a year ago. For 2012-13, the company had a foreign exchange gain of Rs 6.75 crore.

Let us look at the other Q3-2014 figures reported by Prime Focus

Prime Focus reported 18.3 per cent rise in Income from operations to Rs 213.68 crore in Q3-2014 from Rs 180.68 crore in the same quarter of FY 2013 and was 9 per cent more than the Rs 196.06 crore during Q2-2014. YTD, its Income from operations at Rs 598.20 crore was 5.8 per cent more than the Rs 565.27 crore of the nine month periods of last year. For FY 2013, Prime Focus had reported Income from operations of Rs 762.16 crore.

Total expenditure at Rs 194.09 crore for Q3-2014 was 11.5 per cent more than the Rs 180.81 crore for Q3-2013, and 8.2 per cent more than the Rs 179.42 crore for the immediate trailing quarter Q2-2014. YTD, Prime Focus reported Total expenditure of Rs 541.73 crore , which was 5.75 per cent more than the Rs 512.26 crore during the corresponding nine month period of FY 2013. The company reported Total expense of Rs 686.76 crore in FY 2013.

Personnel cost for Q3-2014 at Rs 89.38 crore was 14.6 per cent more than the Rs 78.02 crore for the corresponding quarter of last year (Q3-2013) and 11.9 per cent more than the Rs 79.85 crore for Q2-2014.

The company paid Rs 15.61 crore towards technician fee for Q3-2014, 7.4 per cent more than the Rs 14.53 crore a year ago, and (1.8) per cent lower than the Rs 15.89 crore for Q2-2014.

Depreciation and amortisation cost for Q3-2014 at Rs 25.17 crore was 10.6 per cent higher than the Rs 22.75 crore y-o-y but (11.5) per cent lower than the Rs 28.44 crore for Q2-2014.

Other expenditure for Q4-2014 at Rs 63.80 crore was 8.7 per cent more than the Rs 58.68 crore y-o-y and 15.5 per cent more than the Rs 55.25 crore q-o-q.

Prime Focus paid Rs 16.28 crore towards finance costs for Q3-2014, 32.5 per cent more than the Rs 12.29 crore for Q3-2013 and 46.8 per cent more than the Rs 11.09 crore for the trailing quarter (Q2-2014).

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February 14, 2014
Jyothy Labs Q3 ad spend up 25%, promo spends triple; PAT up 63%

BENGALURU: FMCG company Jyothy Laboratories Limited (Jyothy Labs) has reported a 63.1 per cent rise in its net profit in the quarter ended 31 December, 2013 to Rs 27.38 crore from Rs 16.79 crore a year ago.

The company spent Rs.15.04 crore on advertising in the third quarter, up 25.2 per cent from a year ago. Its expenditure on promotions in the third quarter tripled to Rs 12.04 crore from Rs 4 crore a year ago. Jyothy Labs’ combined advertising and promotional expenses in the third quarter rose 71.6 per cent to Rs 27.48 crore from Rs 16.01 crore a year ago.

Jyothy Labs’ product portfolio includes household brands led by its flagship fabric whitening brand Ujala, Henko, Mr. White, Chek, Exo, Pril, Margo, Fa, Neem and Maxo.

Jyothy Labs’ net profit in the third quarter was 31.2 per cent more than Rs 20.87 crore a quarter ago. In the nine months ended 31 December, 2013, the company’s net profit more than doubled to Rs 76.95 crore from Rs 32.22 crore a year ago.

The company’s advertising spend in the third quarter was 24.6 per cent lower than Rs 19.96 crore a quarter ago, while in the first nine months of 2013-14 it rose 49.2 per cent Rs 64.54 crore from Rs 42.35 crore a year ago.

The company reported a 27.8 per cent increase in operating revenue to Rs 296.99 crore in the third quarter from Rs 234.21 crore a year ago, but was 3.75 per cent lower than Rs 308.55 crore a quarter ago.

Total expense during Q3-2014 26.8 per cent up to Rs.270.60 crores from Rs.213.47 crores in Q3-2013, but was down (3.9) per cent from Rs.281.51 crores in the previous quarter. Over the nine month period of the current year, Total expense during the nine month period of this year grew 19.6 per cent to Rs.839.29 crores from Rs.701.91 crores in the corresponding period of the previous year. For FY 2013, Jyothy Labs reported Total expense at Rs.956.64 crores.

Let us look at Jyothy Labs reported Ad and Promo spends during Q3-2014 as percentages of Operating Income and Total expense:

Ad spend for Q3-2014 of Rs.15.04 crores mentioned above was 5.06 per cent of Operating Income and 5.56 of Total expense for the period. Rs.12.01 crores for Q3-2013 mentioned above was 5.13 of Operating Income and 5.63 of Total expense for the period. Q2-2014 ad spend of Rs.19.96 crores was 6.46 per cent of Operating Income and 7.09 per cent of Total expense for the period.

The company’s YTD AD spend for the current period of Rs.64.54 crores was 6.98 per cent of Operating income and 7.69 per cent of Total sales as compared to the Rs. 43.25 crores (5.80 per cent of Operating Income and 6.16per cent of Total sales for the period) during the corresponding period of last year.

Jyothy Lab’s Q3-2014 promo spend of Rs.12.44 crores was 4.19 per cent of Operating Income and 4.6 per cent of Total expense. Its Q3-2013 Promo spend of Rs.4 crores was 1.71 per cent of 9Operating Income and 1.87 per cent of Total expense for the period. The company’s Q2-2014 Promo spend of Rs.9.64 crores was 3.12 per cent of Operating Income and 3.42 per cent of Total expense.

The YTD Promo spend of Rs. 31.22 crores for the current period 3.37 per cent of Operating Income and 3.72 per cent of Total expense for the period as compared to the Rs.18.33 cores (2.46 per cent of Operating Income and 2.61 per cent of Total expense) during the corresponding nine month period of last year.

Combined Ad & Promo spend for Q3-2014 of Rs.27.48 crores was 9.25 per cent of Operating Income and 10.16 per cent of Total expense. For Q3-2013, the Rs.16.01 crores was 6.84 per cent of Operating Income and 7.5 per cent of Total expense. For Q2-2014, the combined figure at Rs.29.6 crores was 9.59 per cent of Total Income and 10.51 per cent of Total expense. The YTD figure of Rs.95.76 crores was 10.35 per cent of Operating Income for the period ended December 31, 2013 as compared to the Rs.61.58 crores (8.26 per cent of Operating Revenue and 8.77 per cent of Total expense) during the corresponding nine month period of last fiscal.

Segmental Performance (Q3FY14 v/s Q3FY13) as reported by the company:

Revenues from soaps and detergent business, which includes brands like Ujala, Henko, Exo, Pril, Margo, Mr. White, stood at Rs. 240.4 crore during the quarter compared to Rs. 187.2 crore in December 31st, 2012; up by 28.4 per cent. Ujala fabric whitener continues to be the market leader with a market share of 72.5 per cent by value claims the company.

Home Care, which includes mosquito repellant Maxo and Exo scrubber, saw revenues for the quarter ended December 31, 2013 at Rs. 56.4 crore up 25.9 per cent as against Rs. 44.8 crore during the same period last year.

Others businesses, which include brands like Fa and Neem, saw revenue increase of 78.1 per cent at Rs. 3.9 crore against Rs. 2.2 crore on December 31st, 2013.

Commenting on the company’s results, Jyothy Labs Chairman and Managing Director M P Ramachandran said, “We have continued to witness a steady growth in sales in spite of the weak consumer sentiment in the last several quarters. Increase in geographic footprint of our seven power brands has helped us grow at a fast pace. We have strategically concentrated on investing in our brands through advertising campaigns and brand extensions which are paying off well .”

“Jyothy is also concentrating on increasing its product portfolio. The funds raised via preferential allotment was utilized to repay debt and the balance will further be utilized for organic and inorganic growth of the company. We expect the growth momentum to continue translating to healthy volumes and profitability growth for the financial year ,” he further added.

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February 14, 2014
SITI Cable reports higher revenue, EBIDTA for Q3-2014

BENGALURU: Essel Group company SITI Cable Network Limited (Siti Cable), the erstwhile Wire and Wireless (India) Ltd (WWIL) reported 42.1 per cent growth in Total Income to Rs 177.26 crore in Q3-2014 from Rs 124.71 crore in the third quarter of last year and was 8.8 per cent higher than Rs 162.94 crore in the previous quarter.

The company reported 72.8 per cent higher earnings before interest, taxes, depreciation, and amortisation (EBIDTA) at Rs 35 crore in Q3-2014 as compared to the Rs 20.25 crore in Q3 of last year and 6.1 per cent more than the Rs 32.98 crore in the immediate trailing quarter.

Siti Cable Chairman Subhash Chandra said, “The ongoing digitisation is providing new impetus for growth and value in India though we are still early in the value creation process. Digital Cable Television is a major engine of growth for SITI Cable across all geographies. Our sustained investment in this segment will further enhance customer television viewing experience”.

“Our results for the quarter reflect the overall stability of our operations, and demonstrate the potential for growth. SITI Cable is EBITDA positive in this quarter as well,” added Chandra.

Let us look at the other figures reported by SITI Cable for Q3-2014:

Operating revenue in SITI Cable’s case is primarily generated from subscriber related income, especially from digitisation, income from bandwidth charges, ad income, STB activation charges and other operating revenues. Total Income figures have been mentioned above.

Operating cost for Q4-2014 at Rs 142.26 crore was 36.2 per cent more than the Rs 104.46 crore for Q3-2013 and 9.5 per cent higher than the Rs 129.96 crore for Q2-2014.

The company’s Selling and Distribution expense in Q3-2014 almost quadrupled (was up 3.92 times) to Rs 12.91 crore from Rs 3.29 crore in Q3-2013 and was four per cent more than the Rs 12.42 crore in the immediate preceding quarter.

Its staff cost at Rs 9.91 crore for the current quarter was 23.7 per cent more than the Rs 8.01 crore in Q3-2013 and 5.5 per cent more than the Rs 9.39 crore in Q2-2014. Administrative expense for Q4-2014 at Rs 16.88 crore was down by 3.8 per cent to Rs 16.88 crore in Q3-2014 from Rs 17.55 crore in Q3-2013 and (33.65) per cent lower than the Rs 25.44 crore in Q2-2014.

Depreciation in Q3-2014 was up by 61.8 per cent to Rs 22.99 crore from Rs 14.21 crore in the corresponding quarter of last year, but was (14.6) per cent lower than the Rs 26.91 crore in Q2-2014. The company paid 24.3 per cent more towards finance charges in Q3-2014 at Rs 31.22 crore than the Rs 25.11 crore in Q3-2013 and was 2.3 per cent more than the Rs 30.52 crore in Q2-2013.

The company reported a loss of Rs (22.51) crore in Q3-2014, which was 20.1 per cent more than the loss of Rs 18.75 crore in Q3-2013 and three per cent more than the Rs 21.85 crore in Q2-2014.

SITI Cable CEO VD Wadhwa said, “We have gained further momentum in the third quarter of fiscal 2014. Our total revenue and EBITDA grew to Rs 1773 million and Rs 350 million respectively, a healthy growth of 42 per cent and 73 per cent respectively over corresponding quarter of last fiscal. We have maintained our margins through operational efficiency improvements despite stiff challenges faced at market place on account of DAS billing. We have made the healthy progress in collection of DAS subscription revenue which is way ahead of competition.”

He further added, “We are now in exciting phase of our journey as we strengthen our existing operations and expand our digital subscriber base in phase-3&4 towns. We have started digital cable services in strategic markets of Vijayawada, Hissar and Rohtak in this quarter. We have also reinvented the company website making it more interactive and user- friendly”.

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February 13, 2014
Q3-2014: TV Today PAT up 34.5% on year; Oye! FM operating loss narrows

BENGALURU: TV Today Network Limited (TVTN), a part of the India Today group, has reported its net profit in the third quarter ended 31 December, 2013 rose 34.5 per cent to Rs 20.65 crore from Rs 15.35 crore a year ago.

The company’s net profit in the third quarter was 60.9 per cent higher than Rs 12.83 crore in the second quarter of 2013-14.

For the nine months ended 31 December, 2013, TV Today Network’s net profit at 45.46 crore was 7.77 times Rs 5.85 crore a year ago. For 2012-13, the company’s net profit was 12.21 crore.

TVTN’s radio broadcasting business under the brand Oye! FM reported that its operating loss for the first nine months of 2013-14 narrowed by 31.1 per cent to Rs 7.24 crore from Rs 10.51 crore a year ago.

For the third quarter, Oye! FM’s operating loss narrowed by 9.5 per cent to Rs 2.9 crore from Rs 3.2 crore a year ago. Its operating loss for the third quarter was, however, higher than the operating loss of Rs 2.02 crore a quarter ago.

For 2012-13, Oye! FM had an operating loss of Rs 13.24 crore.

TVTN’s television broadcasting segment reported a phenomenal 68.4 per cent growth in operating profit to Rs 33.75 crore in the third quarter of 2013-14 from Rs 20.04 crore a year ago.

The television broadcasting segment’s operating profit in the first nine months at Rs 76.2 crore was 3.62 times a year ago’s Rs 21.1 crore. For 2012-12, the television segment reported operating profit of Rs 32.79 crore.

Let us look at the other Q3-2014 figures reported by TVTN

TVTN’s Operating Revenue at Rs 110.94 crore for Q3-2014 was 22.8 per cent higher than the Rs 90.37 crore of the corresponding quarter of last year and 21.3 per cent more than the Rs 91.45 crore in the immediate trailing quarter. For the nine month period ended December 31, 2013, TVTN saw a growth of Operating Revenue by 27.6 per cent to Rs 291.24 crore from Rs 228.22 crore in the corresponding nine month period of last year. For FY 2013, TVTN had Operating Revenue of Rs 312.44 crore.

TVTN’s Total expense for Q3-2014 at Rs 82.23 crore was 9.4 per cent more than the Rs 75.21 crore in Q3-2013 and 11.8 per cent more than the Rs 73.54 crore for Q2-2014. YTD, TVTN’s Total Expense at Rs 227.04 crore was 3.4 per cent more than the Rs 219.66 crore in the corresponding nine month period of FY2013. TVTN’s Total Expense for FY 2013 was Rs 297.55 crore.

TVTN’s Production Cost for Q3-2014 was 16.3 per cent higher at Rs 10.85 crore as compared to the Rs 9.33 crore in Q3-2013 and 34.7 per cent more than the Rs 8.06 croes in the immediate trailing quarter. For the nine month period ended December 31, 2013, TVTN’s Production Cost went up 3.3 per cent to Rs 27.94 crore from Rs 27.06 crore in the corresponding nine month period of last year. For FY 2013, the company’s Production Cost was Rs 37.42 crore.

TVTN spent Rs 25 crore in Q3-2014 towards Advertisement, Distribution and Sales Promotion (Ad Spend) which was 8.8 per cent more than the Rs 22.98 crore in Q3-2013 and 9 per cent more than the Rs 22.93 crore in Q2-2014. YTD, TVTN’s Ad Spend at Rs 67.62 crore was 1.75 per cent more than the Rs 66.46 crore in the corresponding nine month period of FY 2013. For FY 2013, TVTN’s Ad Spend was Rs 89.4 crore.

Television segment had Operating Revenue of Rs 107.05 crore for Q3-2014, which was 21.7 per cent more than the Rs 87.97 crore in Q3-2013 and 22.2 per cent more than the Rs 87.62 crore in the immediate trailing quarter. YTD, the company’s Television segment saw Operating Revenue grow by 26.9 per cent to Rs 280.57 crore as compared to the Rs 221.06 crore in the corresponding nine month period of FY 2013. For FY 2013, TVTN’s Television segment had Operating Revenue of Rs 302.69 crore.

Oye! FM had Operating Revenue of Rs 4.37 crore in Q3-2014, which was 76.8 per cent more than the Rs 2.47 crore in the corresponding quarter of last fiscal and 7 per cent more than the Rs 4.08 crore in Q2-2014. YTD, Oye! FM reported Operating revenue of Rs 11.46 crore in the current fiscal, which was 56.4 per cent more than the Rs 7.33 crore during the corresponding nine month period of FY 2013. For FY 2013, Oye! FM reported Operating Revenue of Rs 9.98 crore.

February 13, 2014
Q3-2014: HT Media Fever FM’s operating profit three times a year ago

BENGALURU: HT Media Limited’s Fever 104 FM radio business reported its operating profit in the third quarter ended 31 December, 2013 at Rs 7.79 crore was over three-times a year ago and was up 66.1 per cent from a quarter ago.

In the nine months ended 31 December, 2013, Fever’s operating profit at Rs 16.15 crore was two-and-a-half times a year ago. Fever’s consolidated operating profit was Rs 7.40 crore in 2012-13.

HT Media’s Fever 104 FM operates radio stations in Mumbai, Bangalore, Kolkata and Delhi.

HT Media’s core business – Printing and Publishing of Newspapers and Periodicals — saw operating profit grow 2.6 per cent to Rs 85.93 crore in the third quarter of 2013-14 from Rs 83.78 crore a year ago. The printing and publishing business’ operating profit in the third quarter was up 44.5 per cent from Rs 59.48 crore a quarter ago.

In the nine months ended 31 December, 2013, printing and publishing business’ operating profit rose 16.2 per cent to Rs 226.87 crore from Rs 195.28 crore a year ago. In 2012-13, HT Media’s Printing & Publication segment reported consolidated operating profit of Rs 263.69 crore.

HT Media reported a growth of 6.1 per cent in Q3-2014 consolidated income from operations to Rs 573.04 crore from Rs 540.25 crore in Q3-2013 and a growth of 8.8 per cent from Rs 526.83 crore in Q2-2014.

In the nine months ended 31 December, 2013, HT Media’s consolidated operating Income rose 7.1 per cent to Rs 1,632.1 crore from Rs1,524.45 crore a year ago. In 2012-13, HT Media’s consolidated operating income was Rs 2015.99 crore.

HT Media’s consolidated total expenses in the third quarter rose 5.2 per cent to Rs 506.53 crore from Rs 481.58 crore a year ago and 2.8 per cent more than Rs 492.61 crore a quarter ago.

In the nine months ended 31 December, 2013, the company’s consolidated total expenses rose 5.6 per cent to Rs 1,483.95 crore from Rs 1,405.27 crore a year ago. In 2012-13, the company’s total consolidated expenses were Rs 1,857.26 crore.

HT Media’s consolidated PAT in Q3-2014 at Rs 67.02 crore was 25 per cent more than Rs 53.61 crore a year ago and 15.2 per cent more than Rs 58.18 crore a quarter ago. HT Media’s PAT in the nine months ended 31 December, 2013 was Rs 172.69 crore, up 35.4 per cent more than Rs 127.57 crore a year ago. The company’s PAT for 2012-13 was Rs 167.65 crore.

Segment Figures

HT Media’s Printing & Publishing segment saw 4 per cent rise in consolidated operating revenue in Q3-2014 to Rs 533.53 crore from Rs 513.04 crore in the corresponding quarter of last year and an increase of 7.6 per cent from Rs 495.85 crore in Q2-2014. YTD, the segment’s Operating revenue grew by 4.9 per cent to Rs 1523.96 crore from Rs 1452.85 crore in the corresponding nine month period of last year. During FY 2013, the segment reported revenue of Rs 1919.95 crore.

Radio (Fever) reported revenue of Rs 26.67 crore for Q3-2014, which was 24.9 per cent more than the Rs 21.35 crore in Q3-2013 and 20.4 per cent more than the Rs 22.16 crore in Q2-2014. YTD, revenue of Rs 70.24 crore was 17.3 per cent more than the Rs 59.87 crore in the corresponding nine month period of last year. During FY 2013, the segment reported revenue of Rs 78.3 crore.

HT Media’s Digital segment saw operating revenue growth of 41.7 per cent to Rs 19.54 crore in Q3-2014 from 13.79 crore in Q3-2013 and a growth of 9.71 per cent as compared to the Rs 17.81 crore in Q2-2014. YTD, this segment grew 38.9 per cent to Rs 54.4 crore from Rs 39.16 crore in the corresponding nine month period of last year. During FY 2013, the segment reported revenue of Rs 53.77 crore.

Loss from HT Media’s Digital segment fell (14.2) per cent to Rs (7.6) crore in the current quarter from Rs (8.86) crore in Q3-2013 and was (26.1) per cent lower than the Rs (10.29) crore in Q2-2014. However, YTD, the Digital segment’s loss of Rs (34.93) crore was higher by 14.4 per cent as compared to the Rs (30.54) crore in the corresponding nine month period of last year. During FY 2013, the segment reported loss of (38.56) crore.

Unallocated segment revenue was Rs 3.62 crore in Q3-2014; Rs 1.16 crore in Q3-2013; Rs 2.55 crore in Q2-2014; Rs 8.81 crore YTD as compared to the Rs 5.27 crore in the corresponding nine month period of last year. For FY 2013 Unallocated segment revenue was Rs 8.97 crore. Loss from this segment was: Rs (11.37) crore in Q3-2014; Rs (12) crore in Q3-2013; Rs (11.84) crore in Q2-2014; YTD Rs (35.18) crore as compared to the Rs (28.51) crore in the corresponding nine month period of last year. For FY 2013, Unallocated segment reported loss of Rs (41.31) crore.

February 12, 2014
Mirchi reports strong results for Q3-2014

BENGALURU: While announcing the quarterly results for Q2-2014 (last quarter), ENIL’s ED and CEO Prashant Panday had said, “The media sector witnessed a consolidation of sorts in Q2. The bigger brands have done well, while the rest languished, FM radio has again done better than all traditional media, growing at between 10-12 per cent over last year, as has Mirchi”.

The Bennett, Coleman & Co. Limited promoted Indian private FM player Entertainment Network (India) Limited (ENIL) which operates FM radio broadcasting stations through the brand Radio

Mirchi in 32 Indian cities announced 37.7 per cent growth in PAT to Rs 25.88 crore in Q3-2014 as compared to Rs 18.79 crore in the corresponding quarter of last year. This quarter’s PAT was 58.1 per cent more than the Rs 16.38 crore in Q2-2014.

Over a nine month period ended 31 December 2013, ENIL reported 45.9 per cent growth in PAT to Rs 62.33 crore in Q3-2014 from Rs 42.71 crore in the corresponding nine month period of last year.

For FY 2013, ENIL reported PAT of Rs 68.32 crore. Considering the consistent good performance of the company year-on-year and the strong cash position the ENIL board of directors had recommended a maiden dividend of 10 per cent i.e. Re.1/- per equity share of Rs 10/- for FY 2013.

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February 11, 2014
RBNL’s Q3-2014 radio business operating profits almost double y-o-y

BENGALURU: Reliance Broadcast Network Limited (RBNL) radio segment reported operating profit of Rs 6.58 crore for Q3-2014, which was almost double (1.96 times) the Rs 3.36 crore in Q3-2013 and 32.45 per cent more than the Rs 4.97 crore in the immediate trailing quarter. On YTD basis, operating profit of the radio segment improved more than 167 times to Rs 202.27 crore as compared to the small operating profit of Rs 0.1223 crore in the corresponding nine month period of last year. During FY 2013, RBNL’s radio business reported an operating profit of Rs 8.18 crore.

The company’s EBIDTA for Q3-2014 at Rs 16.31 crore was up 7.44 per cent as compared to the Rs 15.18 crore in Q3-2013 and was up 8.62 per cent from the Rs 15.02 crore in Q2-2014. Over the nine month period ended December 31, 2013, RBNL’s EBIDTA at Rs 50.36 crore was almost double (1.96 times more) the Rs 25.8 crore in the corresponding period of last year. EBIDTA for FY 2013 was Rs 43.58 crore.

Overall, RBNL reported a loss of Rs (31.08) crore for Q3-2014 as compared to a profit of Rs 0.37 crore in Q3-2013 and a loss of Rs (16.48) crore in Q2-2014. Over the nine month period ended 31 December 2013, RBNL reported a loss of Rs (30.6) crore, which was 16.18 per cent more than the loss of Rs (26.34) crore in the corresponding period of last fiscal. During FY 2013, the company had reported a loss of Rs (-23.51) crore.

Note: The company has investments in equity and loans aggregating to Rs 109.4246 crore into its wholly owned subsidiary Reliance Television Private Limited (RTPL) as on 31 December 2013. RTPL has further investments in a step down entity viz. Azalia Distribution and Television Private Limited (Azalia), which was earlier a joint venture entity. During the quarter ended 31 December 2013, the joint venture agreement was mutually terminated and RTPL acquired the remaining 50 per cent stake of the co-venturer on 20 December 2013. Consequent upon this acquisition, Azalia became a wholly owned subsidiary of RTPL on and from the said date. Azalia has scaled down its operations significantly during the quarter, however the management is confident that on a need basis it can scale up the operations. In view of the foregoing, the company on a prudent basis has made a provision for an amount aggregating Rs 30 crore in its accounts during the current quarter for loans and advances granted to RTPL. This has no impact on the consolidated financial results.

Let us look at the other figures reported by RBNL

RBNL’s Total revenue in Q3-2014 at Rs 69.59 crore was up 3.62 per cent as compared to the Rs 67.16 crore in Q3-2013 and was up 18.19 per cent as compared to the Rs 58.88 crore in the immediate trailing quarter. YTD, the company’s Total revenue at Rs 186.04 crore was up 13.87 per cent from the Rs 163.37 crore in the corresponding nine month period of last year. For FY 2013, RBNL reported Total revenue of Rs 225 crore.

Radio; Outdoor; Production; ‘Others’ and ‘Unallocated’ segments contribute to RBNL’s revenue, with Radio contributing the lion’s share between 70-84 per cent of Total revenue. It is the unallocated segment that has contributed a major portion of the loss – Rs (30.54) crore in the current quarter.

Revenue from Radio grew 10.2 per cent to Rs 53.01 crore (76.17 per cent of Total revenue for the period) in Q3-2014 from 48.10 crore (71.63 per cent of Total revenue for the period) in Q3-2013 and grew 6.43 per cent from Rs 49.81 crore (84.59 per cent of Total revenue for the period) in Q2-2014. YTD, revenue from this segment grew 25.22 per cent to Rs 150.1 crore (80.68 per cent of Total revenue for the period) from Rs 119.87 crore (73.37 per cent of Total revenue for the period) in the corresponding nine month period of last year. For FY 2013, Radio segment reported revenue of Rs 165.96 crore (73.76 per cent of Total revenue).

Production is the other major contributor to RBNL’s revenue, with its contribution ranging from 8 to 20 per cent.

Revenue from production in Q3-2014 was up 5.38 per cent to Rs 13.33 crore from Rs 12.65 crore in Q3-2013 and up 160 per cent as compared to the Rs 5.13 crore in Q2-2014. YTD, this segment saw an increase of 6.02 per cent to Rs 24.31 crore in Q3-2014 as compared to the Rs 22.93 crore in the corresponding nine month period of last year. Production reported revenue of Rs 27.50 crore for FY 2013.

RBNL’s Total expense at Rs 62.98 crore in Q3-2014 was up 1.35 per cent as compared to the Rs 62.14 crore in Q3-2013 and up 16.36 per cent as compared to the Rs 54.12 crore in Q2-2014. Over the nine month period ended December 31, 2013, the company’s Total expense at Rs 166.80 crore was down (0.77) per cent from Rs 168.09 crore in the corresponding period of last fiscal. During FY 2013, RBNL’s Total expense was Rs 221.44 crore.

RBNL spent 74.63 per cent more towards Advertising expenses at Rs 7.86 crore (12.48 per cent of Total expense for the period) in the current quarter as compared to the Rs 45 crore (7.24 per cent of Total expense for the period) and 23.45 per cent more than the Rs 63.66 crore (11.76 per cent of Total expense for the period) in Q2-2014. YTD, RBNL’s Advertising spend was Rs 16.44 crore (9.86 per cent of Total expense for the period), which was 43.1 per cent more than the Rs 11.50 crore (6.84 per cent of Total expense for the period) during the corresponding nine month period of last year. For FY 2013, the company’s Advertising spend was Rs 16.16 crore (7.30 per cent of Total expense for the period).

RBNL’s finance cost jumped up 52.41 per cent to Rs 8.01 crore in Q3-2014 from Rs 5.26 crore in Q3-2013 and by 9.93 per cent from Rs 7.22 crore in Q2-2014. Over the nine month period ended December 31, 2013, the company’s finance cost was down (7.96) per cent to Rs 21.93 crore from Rs 23.82 crore in the corresponding period of last year. In FY 2013, RBNL spent Rs 29.45 crore towards finance cost.

February 10, 2014