ITV

Category: Financials

  • DQ Entertainment reports sextuplicate half year PAT on forex gain

    DQ Entertainment reports sextuplicate half year PAT on forex gain

    BENGALURU: The Tapas Chakravarti led DQ Entertainment (International) Ltd, (DQE) reported an almost six fold increase  (up by 5.76 times) in its first half-2014 (half year ended Sept 30, 2013 – H1-2014) financial result at Rs29.4 crore as compared to the Rs 5.1 crore for the corresponding period last year, albeit the revenue reported by the company was lower.

     

    The Hyderabad based company reported foreign exchange gain of Rs 14.4 crore for Q2-2014 and Rs 18.4 crore for Q1-2014, totalling Rs 32.8 crore for H1-2014. During the corresponding period last year, the company reported a foreign exchange loss of Rs 7.98 crore.

     

    DQE reported revenue for H1-2014 of 2014 at Rs 87 crore as compared to the Rs 95.3 crore for H1-2013.

     

    Let us look at the Q2-2014 results reported by DQE

     

    The company reported a consolidated net income from operations for Q2-2014 at Rs 56.68 crore, 12 per cent lower than the Rs 64.34 crore for Q2-2013 and almost double (up by 86 per cent) the Rs 30.43 crore for Q1-2014.

     

    PAT for Q2-2014 at Rs 22.72 crore was up 60.22 per cent as compared to the Rs 14.18 crore during the corresponding period last year and more than triple (3.44 times) the PAT of Rs 6.6 crore during Q1-2014.

     

    Expenditure without accounting for forex gain/loss and transfer of expense to capital account for Q2-2014 at Rs 41.77 crore was 5.8 per cent higher than the Rs 39.48 crore for Q2-2013 and 12 per cent higher than the Rs 37.3 crore for Q1-2014.

     

    Segment Results

     

    Two segments contribute to DQE revenue – animation and distribution.

     

    Animation reported revenue of Rs.41.51 crores, 1.4 per cent lower than the Rs 42.09 crore for Q2-2013 and 50.6 per cent higher than the Rs 27.57 crore for Q1-2014. The segment reported positive result of Rs 27.32 crore for Q2-2014, more than double (2.38 times) the Rs 11.46 crore for Q2-2013 and 25.7 per cent more than the Rs 21.73 crore for Q1-2014.

     

    Distribution reported 32.6 per cent drop in revenue to Rs 15 crore in Q2-2014 as compared to the Rs 22.25 crore for Q2-2013. Distribution revenue for Q1-2014 was Rs 2.85 crore. Distribution returned positive result of Rs 9.44 crore, 40.4 per cent lower than the Rs 15.86 crore for Q2-2013. DQE’s distribution segment had returned negative figures of Rs (-1.86) crore for Q1-2014.

     

    DQE CMD and CEO Chakravarti said, “The global entertainment industry is developing at an unprecedented pace. Mobility and portability of content will, in my opinion, have a profound impact as viewers consume  programming outside their homes and want to control what they watch, when they watch, and on what device. So many opportunities are evolving and we recognise that in so far as content production is important, even more vital will be the distribution technologies that are emerging.”

     

    “Recognising and serving this need with regards to distribution technology, we have made substantial and focused progress in licensing and distribution of our Intellectual Properties not only for television broadcast, but other VOD (Video on Demand) and SVOD (Subscription Video on Demand) and OTT (Over the Top) platforms as well. Our flagship global property Jungle Book Series is on Netflix, Vudu and Hulu – the famous OTT platforms in the USA,” added Chakravarti.

     

     “New associations with leading networks and licensees globally are paving the way to monetise our IPs and co-produced content. New deals across our portfolio of properties in recent months are with best-in-class partners such as France Television, Nickelodeon, Disney Channel Productions, Sky Italia, Universal Music, Discovery Kids, Rai TV, Italy etc. The promotional deal for The Jungle Book with Burger King Worldwide has been immensely successful and will be extended for second promotion,” revealed Chakravarti.

     

     “We have successfully completed deliveries while new productions are in development. Our foray into theatrical production of ‘The Jungle Book’ is gathering momentum, and we hope to conclude announceable distribution deals in the near future. We remain confident that the global entertainment industry has excellent growth prospects, while our business remains well placed for projected growth in the current year,” concluded Chakravarti.

  • Sea TV Network reports higher income, higher pay channel charges lower PAT for Q2-2014

    Sea TV Network reports higher income, higher pay channel charges lower PAT for Q2-2014

    BENGALURU: UP based Agra headquartered media and entertainment industry player Sea TV Network Limited (sea TV) reported a 43.13 per cent increase in its standalone net income from operations for Q2-2014 at Rs 4.88 crore as compared to the Rs 3.41 crore for Q2-2013 and 11.15 per cent higher than the Rs 439.1 crore for Q1-2014.

    PAT for Q2-2014 at Rs 0.0773 crore was a little over one fifth the Rs 0.3658 crore for Q2-2013 and a little more than a fourth of the Rs 0.3024 crore for Q1-2014. Exceptional items at Rs 0.2134 crore added to the company’s profit.

    Pay channel charges form a major portion of Sea TV’s expenditure. The company paid Rs 1.56 crore during Q2-2014 against this head, 63.6 per cent higher than the Rs 0.9533 crore for Q2-2013 and 64.4 per cent higher than the Rs 0.9463 crore for Q1-2014.

    Let us look at the other results recorded by Sea TV for Q2-2014

    Expenditure for Q2-2014 at Rs 4.32 crore was 55.9 per cent higher than the Rs 2.78 crore for Q2-2013 and 17.7 per cent more than the Rs 3.67 crore for Q1-2013.

    Depreciation for Q2-2014 at Rs 1.1343 crore jumped up almost six-fold (5.78 times) as compared to the Rs 0.20 crore for Q2-2013 and was almost flat (lower by 0.28 per cent) as compared to the Rs 1.1375 crore for Q1-2014.

    Other expense for Q2-2014 at Rs 1.0625 crore was 1.9 per cent lower than the Rs 1.0832 crore for Q2-2013 and 1.5 per cent lower than the Rs 1.0469 crore for Q1-2014.

    Reserves, excluding revaluation reserves at Rs 48.80 crore were 2.24 per cent higher than the Rs 47.73 crore for Q2-2013 and almost flat (0.16 per cent more) than the Rs 48.72 crore for Q1-2014.

  • Sea TV Network reports higher income, higher pay channel charges lower PAT for Q2-2014

    Sea TV Network reports higher income, higher pay channel charges lower PAT for Q2-2014

    BENGALURU: UP based Agra headquartered media and entertainment industry player Sea TV Network Limited (sea TV) reported a 43.13 per cent increase in its standalone net income from operations for Q2-2014 at Rs 4.88 crore as compared to the Rs 3.41 crore for Q2-2013 and 11.15 per cent higher than the Rs 439.1 crore for Q1-2014.

     

    PAT for Q2-2014 at Rs 0.0773 crore was a little over one fifth the Rs 0.3658 crore for Q2-2013 and a little more than a fourth of the Rs 0.3024 crore for Q1-2014.

    Exceptional items at Rs 0.2134 crore added to the company’s profit.

     

    Pay channel charges form a major portion of Sea TV’s expenditure. The company paid Rs 1.56 crore during Q2-2014 against this head, 63.6 per cent higher than the Rs 0.9533 crore for Q2-2013 and 64.4 per cent higher than the Rs 0.9463 crore for Q1-2014.

     

    Let us look at the other results recorded by Sea TV for Q2-2014

     

    Expenditure for Q2-2014 at Rs 4.32 crore was 55.9 per cent higher than the Rs 2.78 crore for Q2-2013 and 17.7 per cent more than the Rs 3.67 crore for Q1-2013.

     

    Depreciation  for Q2-2014 at Rs 1.1343 crore jumped up almost six-fold (5.78 times) as compared to the Rs 0.20 crore for Q2-2013 and was almost flat (lower by 0.28 per cent) as compared to the Rs 1.1375 crore for Q1-2014.

     

    Other expense for Q2-2014 at Rs 1.0625 crore was 1.9 per cent lower than the Rs 1.0832 crore for Q2-2013 and 1.5 per cent lower than the Rs 1.0469 crore for Q1-2014.

     

    Reserves, excluding revaluation reserves at Rs 48.80 crore were 2.24 per cent higher than the Rs 47.73 crore for Q2-2013 and almost flat (0.16 per cent more) than the Rs 48.72 crore for Q1-2014.

  • Q2-2014: Forex gains boosts PAT to more than double for Prime Focus

    Q2-2014: Forex gains boosts PAT to more than double for Prime Focus

    BENGALURU: Indian visual effect and 3-D conversion player Prime Focus Limited (Prime Focus) reported consolidated PAT of Rs 21.34 crore for Q2-2014, more than double (2.24 times) the Rs 9.54 crore for Q2-2013 and 2.53 times the Rs 8.53 crore for Q1-2014.

     

    The company reported exchange gain at Rs 20.37 crore for Q2-2014 on a consolidated basis, 44.8 per cent more than the Rs 14.06 crore for Q1-2014 and hence contributed to a major extent to the PAT. Prime Focus had reported an exchange loss of Rs 6.91 crore for Q2-2013.

     

    Let us look at the other figures reported by Prime Focus for Q2-2014

     

    Prime Focus reported consolidated net sales from operations for Q2-2014 at Rs 196.06 crore, almost flat (about 0.17 per cent lower) than the Rs 196.39 crore for Q2-2013 and 4.2 per cent higher than the Rs 188.47 crore for Q1-2014. Besides foreign exchange gain/loss mentioned above, other income for Q2-2014 was Rs 4.06 crore as compared to the Rs 6.63 crore for Q2-2013 and the Rs 2.78 crore for Q1-2014.

     

    Total expenditure at Rs 179.42 crore for Q2-2014 was 0.8 per cent less than the Rs 180.81 crore for Q2-2013, and 16.3 per cent more than the Rs 154.21 crore for the immediate trailing quarter Q1-2014.

     

    Personnel cost for Q2-2014 at Rs 92.74 crore was 11.05 per cent lower than the Rs 104.26 crore for the corresponding quarter of last year (Q2-2013) and 1.5 per cent lower than the Rs 94.11 crore for Q1-2014. Of these figures for personnel cost, the company paid Rs 16.89 crore towards technician fee for Q2-2014, a fraction of a per cent lower than the Rs 17.12 crore for Q1-2014.

     

    Depreciation and amortisation cost for Q2-2014 at Rs 28.44 crore was 35.2 per cent higher than the Rs 21.03 crore y-o-y and 26.6 per cent more than the Rs 22.47 crore for Q1-2014.

     

    Other expenditure for Q2-2014 at Rs 55.24 crore was 13.6 per cent more than the Rs 48.61 crore y-o-y and 6.8 per cent more than the Rs 51.68 crore q-o-q.

     

    Prime Focus paid Rs 11.09 crore towards finance costs for Q2-2014, 2.7 per cent more than the Rs 10.8 crore for Q2-2013 but 15.1 per cent lower than the Rs 13.05 crore for the trailing quarter (Q1-2014).

     

    Notes: (1) All figures on a consolidated basis.

    (2) On September 17, 2013, the company received an approval from its shareholders though a postal ballot, for sale of its ‘Backend Business’ which includes (a) business of providing service of conversion of 2D audio visual/moving images to stereo 3D audio visual/moving images provided by the company to Prime Focus World N. V., a company incorporated and operating under the laws of Netherlands (‘PFW’) (“Conversion Business”) and (b) business of providing  the services of computer generated film visual effects by the  company to PFW (“VFX Business”), to Prime Focus World Creative Services Pvt. Ltd., a company incorporated in India and an indirectly controlled  subsidiary of the company on a going concern basis by a slump sale  for a total consideration of not less than the Rupees equivalent of USD 3.8 crore (38 million).

  • Hathway Q2-2014 y-o-y revenue up 68 per cent, loss returns after two quarters

    Hathway Q2-2014 y-o-y revenue up 68 per cent, loss returns after two quarters

    BENGALURU: Indian Multi Systems Operator (MSO) Hathway Cable & Datacom Limited (Hathway) reported net sales/income from operations of Rs 219.33 crore for Q2-2014, 68 per cent higher than the Rs 130.33 crore the company reported for Q2-2013, but 5.4 per cent lower than the Rs 231 crore for the immediate trailing quarter (Q1-2014).

     

    The company reported a net loss of Rs (-44.44) crore for Q2-2014, 35.26 times higher than the loss of Rs (-1.26 crore) for the corresponding period last year. Earlier, Hathway had reported positive PAT for two consecutive quarters, viz. Q1-2014 when it returned a positive PAT of Rs 5.32 crore and an even higher positive PAT of Rs 28.27 crore for Q4-2013. For FY-2013, the company had reported a net profit for the year from continuing operations of Rs 3.2 crore, while for FY-2012; the company had reported a loss of Rs 5.17 crore.

     

    Let us look at the other Q2-2014 figures reported by Hathway

     

    Hathway’s EBIDTA for Q2-2014 at Rs 40.15 crore was 68.7 per cent more than the Rs 23.8 crore for Q2-2013, but almost half (52.1 per cent) of Rs 77.04 crore for Q1-2014.

     

    The MSO reported a loss before other income, interest and exceptional Items, and tax of Rs (-12.9) crore for Q2-2014, as compared to a loss of Rs (-5.39) crore for Q2-2013 and a profit of Rs 34.55 crore for Q1-2014.

     

    Hathway reported expense of Rs 233.19 crore (5.9 per cent more than the total income of Rs 220.28 crore) for Q2-2014, more than double (2.09 times)  the Rs 111.7 crore for Q2-2013 and about 17.8 per cent more than the Rs 198.01 crore for the immediate preceding quarter (Q1-2014).

     

    Harthway’s pay channel cost at Rs 68.3 crore was 75 per cent more than the Rs 39.05 crore for Q2-2013 and 16.8 per cent more than the Rs 58.45 crore for Q1-2014.

     

    Depreciation and amortisation expense at Rs 51.32 crore was 16.2 per cent more than the Rs 44.18 crore for Q2-2013 and 23.5 per cent more than the Rs 41.54 crore for Q1-2014.

     

    Another major expense head – Other expenses for Q2-2014 at Rs 98.12 crore was up 62.6 per cent as compared to the Rs 60.33 crore for Q2-2013 and 17.3 per cent more than the Rs 83.67 crore for Q1-2014.

     

    Hathway’s finance cost for Q2-2014 at Rs 23.71 crore more than tripled (was 3.25 times) the Rs 7.30 crore for Q2-2013 and was 9.7 per cent more than the Rs 21.61 crore for Q1-2014.

     

    Hathway reported a foreign exchange loss of Rs (-7.51) crore for Q2-2014 as compared to a gain of Rs 4.48 crore for Q2-2013 and a loss of Rs (-8.32) crore for the trailing quarter (Q1-2014).

     

    Revenue and results from the other segments was a minor fraction of the overall revenue.

  • Bag Films q-o-q loss up 34% for Q2-2014; Radio segment major contributor to loss

    Bag Films q-o-q loss up 34% for Q2-2014; Radio segment major contributor to loss

    BENGALURU: B.A.G. Films & Media Limited (Bag Films) reported consolidated income from operations of Rs 32.65 crore for Q2-2014 which was 9.7 per cent lower than the Rs 36.13 crore for Q1-2013 and almost flat as compared to the Rs 32.67 crore for Q1-2014. The company reported a 33.8 per cent higher loss at Rs (-4.35) crore for Q2-2014 as compared to the Rs (-3.25) crore for Q1-2014. Bag Films had reported a profit of Rs 5.62 crore for the corresponding quarter of last year (Q2-2013). For FY-2013, Bag Films had reported a loss of Rs (-8.86) crore.

     

    Bag Films’ Radio segment was a major contributor to the loss for Q2-2014. The segment reported revenue of Rs 1.01 crore for Q2-2014, which was 44.4 per cent lower than the Rs 1.82 crore for Q2-2013 and 35.3 per cent lower than the Rs 1.56 crore for Q1-2014.

     

    Bag Films FM Radio segment incurred a massive loss of Rs 1.71 crore (39.3 per cent of total loss) for Q2-2014. FM Radio segment had returned positive results of Rs 0.1257 crore for Q2-2013 and Rs 0.5086 crore for Q1-2014. Bag Films FM Radio segment operates under the brand name ‘Radio dhamaal’ and is available at the frequency of 106.4 and is present in seven states and 10 towns of India.

     

    Let us look at the other consolidated figures reported by Bag Films for Q2-2014

     

    Total expenditure for Q2-2014 at Rs 33.99 crore was one per cent more than the Rs 33.64 crore for Q2-2013 and 1.6 per cent higher than the Rs 33.44 crore for Q1-2014.

     

    Other expense at Rs 26.03 crore for Q2-2014 was eight per cent higher than the Rs 24.09 crore for Q2-2013, but 13.4 per cent lower than the Rs 30.07 crore for Q1-2014.

     

    Finance cost for Q2-2014 at Rs 3.61 crore was 29.4 per cent more than the Rs 2.79 crore for Q2-2013, but 1.9 per cent lower than the Rs 3.68 crore for Q1-2014.

     

    Segment Results

     

    Bag Films operates in five segments: Audio-visual production, Movies, Leasing, FM Radio and Television Broadcasting.

     

    Its audio-visual production segment reported revenue of Rs 12.80 crore for Q2-2014 which was 42.2 per cent more than the Rs 9 crore for Q2-2013 and 28.2 per cent more than the Rs 9.98 crore for Q1-2014. This segment returned positive result of Rs 1.56 crore which was 24.6 per cent lower than the Rs 2.07 crore of the corresponding quarter of last year. The segment had returned negative results of Rs (-0.44) crore for Q1-2014.

     

    Bag Films leasing segment had segment revenue of just Rs 0.1357 crore for Q2-2014 as compared to the Rs 0.1871 crore for Q2-2013 and the Rs 0.4634 crore for Q1-2014. Loss from this segment was another major contributor (26.7 per cent of total loss for the quarter) to the overall loss incurred by the company. For Q2-2014, Bag Films leasing segment reported loss of Rs (-1.16) crore, which was 7.5 per cent lower than the Rs (-1.25) crore for the corresponding quarter of last year about 2.61 times the loss of Rs (-0.44) crore for the immediate trailing quarter.

     

    Bag Films runs News 24 and E24 television channels. Its television broadcasting segment reported 25.6 per cent lower revenue at Rs 18.70 crore as compared to the Rs 25.13 crore for the corresponding quarter of last year and 9.5 per cent lower than the Rs 20.67 crore for Q1-2014. This segment returned a 20 per cent lower positive Rs 7.02 crore as compared to the Rs 8.78 crore for Q2-2013,but 15.3 per cent more than the Rs 6.09 crore for Q1-2014.

     

    The company reported nil results for its Movies segment.

  • Reliance Media Works reports lower consolidated loss y-o-y for Sept 2013 quarter

    Reliance Media Works reports lower consolidated loss y-o-y for Sept 2013 quarter

    BENGALURU: Reliance Media Works (RMW), formerly Adlabs Films and a part of the Reliance ADA group, reported lower consolidated net loss in the July-September 2013 (SQ-2013) quarter as compared to the corresponding quarter of last year. RMW’s total consolidated loss before tax for the quarter SQ-2013 at Rs 121.99 crore was almost half (52.74 per cent) of the Rs 231.31 crore the company had reported for the corresponding quarter of last year (Quarter ended 30 September 2012 or SQ-2012), and almost flat as compared to the loss of Rs 120.09 crore for the quarter ended 30 June 2013 (JQ-2013).

     

    Notes:  (1) The board of directors of the company in its meeting on 11 August 2013 has extended the financial year of the company to March 2014 which has been accepted by the Registrar of Companies. Accordingly the financial statements of the company will be drawn for 18 month period ended 31 March 2014. Hence the various quarter have been referred to as SQ (September Quarter) and (JQ) June Quarter of the respective calendar year (not financial year, since this has been changed once again by the company).

     

    (2) Notes of the attached financial statement must be read along with this analysis.

     

    (3) RMW’s net worth has eroded, however, having regard to revenue visibility of new businesses in film and media services, improved operational performance of exhibition business, financial support from its promoters, further restructuring exercise being implemented etc., the financial statements have been prepared on the basis that the company is a going concern and that no adjustments are required to the carrying value of assets and liabilities.

     

    Let us look at RMW’s other results for the quarter ended SQ- 2013.

     

    Consolidated income for SQ-2013 at Rs 192.54 crore was 11.11 per cent lower than the Rs 216.61 crore for the corresponding quarter last year SQ-2012 and 0.8 per cent lower than the Rs 194.17 crore for JQ-2013.

     

    RMW reported total income from operations for SQ-2013 at Rs 186.63 crore which was about 13 per cent lower than the Rs 214.46 crore for SQ-2012 and 3.6 per cent higher than the Rs 180.16 crore for JQ-2013.

     

    Total expense for SQ-2013 at Rs 238.40 crore was 21.54 per cent lower than the Rs 303.83 crore for SQ-2012 and almost flat as compared to the Rs 238.97 crore for JQ-2013.

     

    RMW paid 20.46 per cent lower distributors share for SQ-2013 at Rs 39.66 crore as compared to the Rs 49.86 crore for SQ-2012, but 8.2 per cent higher than the Rs 36.66 crore for JQ-2013.

     

    Depreciation, amortisation and impairment for SQ-2013 at Rs 37.27 crore was 7.2 per cent higher than the Rs 34.78 crore for SQ-2012 and 4.1 per cent higher than the Rs 35.79 crore for JQ-2013.

     

    RMW says that it has undertaken an initiative for rationalisation/improvement of exhibition business, under which it is re-negotiating rentals downwards and in some cases exit the properties. Its rental expense at Rs 43.07 crore for SQ-2013 was 11.6 per cent lower than the Rs 48.72 crore for SQ-2012 and 16 per cent lower than the Rs 51.27 crore for JQ-2013.

     

    Segment results

     

    RMW’s film production segment has been the biggest contributors to the loss. This segment reported income of Rs 35.55 crore for SQ-2013 and a loss of Rs 37.62 crore. The film production loss for SQ-2013 was 38.35 per cent lower than the Rs 61.02 crore for SQ-2012 against flat income of Rs 35.35 crore.  Comparatively, revenue for SQ-2013 was 14.6 per cent higher at Rs 41.62 crore, with a 12.13 per cent lower loss of Rs 33.55 crore.

     

    Theatrical exhibition had an income of Rs 138.6 crore for Q2-2013, which was 15.1 per cent lower than the Rs 163.26 crore for SQ-2012 and 8.7 per cent higher than the Rs 127.56 crore for JQ-2013. This segment reported less than one sixth the loss for SQ-2013 at Rs 14.79 crore as compared to the Rs 94.87 crore for SQ-2012 and 39 per cent lower than the Rs 24.25 crore for JQ-2013.

     

    The only profitable segment, television, film production and distribution reported income of Rs 15.49 per cent for SQ-2013 which was 16.9 per cent higher than the Rs 13.25 crore for SQ-2012, but 10.93 per cent lower than the immediate preceding quarter (JQ-2013) which reported income of Rs  17.39 crore. This segment reported profit of Rs 4.37 crore for SQ-2013 which was 19.82 per cent lower than the Rs 5.45 crore for SQ-2012 and almost flat as compared to the Rs 4.34 crore for JQ-2013.

  • Q2-2014 Den Networks reports 35 per cent higher y-o-y cable revenues

    Q2-2014 Den Networks reports 35 per cent higher y-o-y cable revenues

    BENGALURU: Indian cable TV distribution company Den Networks Limited (Den Networks) continues to rake in the moolah with 32.4 per cent higher total revenue of Rs 271.88 crore for Q2-2014 as compared to the Rs 205.26 crore for Q2-2013 and almost flat (1.8 per cent higher) as compared to the Rs 268.69 crore for Q1-2014. The company reported a 35 per cent y-o-y jump in cable revenue for Q2-2014 at Rs 258.93 crore as compared to the Rs 192.51 crore in the corresponding quarter of last year (Q2-2013).

     

    Note:  
    Den Network claims that on account of a reporting policy change, w.e.f. Q2-2014, all revenue figures exclude ‘Other Income’ which is reported separately after EBITDA, and that past period figures have also been adjusted to this effect to make it comparable. Variance/s has/have been observed between the company’s investor updates of Q1-2014 and Q2-2014 and the statements filed by the company with the stock exchanges. The differences, if any between the financial analysis for Q1-2014 and Q2-2014 must be attributed to the varied accounting methodology/communications by the company. The current analysis is being done based on the updates for Q2-2014 received.

     

    The company reported a 35 per cent y-o-y jump in cable revenue for Q2-2014 at Rs 258.93 crore as compared to the Rs 192.51 crore in the corresponding quarter of last year (Q2-2013) on the back of strong growth in subscription revenues and higher placement revenues despite lower activation revenues in the current quarter.

     

    Q-o-q, the company’s investor update for Q2-2014 says that its cable business revenue was almost the same as the Rs 256.41 crore for Q1-2014, a figure that is Rs 6.44 crore (about 2.45 per cent) lower than the Rs 262.85 crore the company had reported in its Q1-2014 investor update (ref Note above).

     

    The company says that it has deployed about four lakh set top boxes (STBs) during Q2-2014 and claims a digital subscriber base of around five million in DAS phase I and II cities and about eight million analogue subscribers in DAS phase III and IV markets.

     

    Further, Den Networks believes that the next big opportunity after full digitisation of cable TV is offering high speed broadband services to its subscribers. The company announced plans to launch its broadband service offering by late Q4, FY 2013-14 (February 2014).

     

    Let us look at the other Q2-2014 figures announced by Den Networks

     

    The company has reported breakup of its cable revenue as Rs 99.11 crore as subscription revenue, Rs 119.90 crore as placement revenue and Rs 29.43 crore as digital activation revenue.

     

    Den Network’s consolidated EBITDA for Q2 -2014 was Rs 87.70 crore vs. Rs 38.73 crore in Q2-2013, a 126 per cent leap y-o-y, and eight per cent higher than the Rs 80.94 crore for Q1-2014.

     

    Correspondingly, its cable business EDITDA for Q2-2014 at Rs 85.05 crore was 134 per cent higher than the Rs 36.36 crore for Q2-2013 and seven per cent higher than the Rs 79.39 crore for Q1-2014.

     

    Consolidated PAT at Rs 11.18 crore for Q2-2014 was up by about 10 per cent higher as compared to the PAT of Rs 10.15 crore for Q1-2014. The company says that its cable business PAT stood at Rs 9.64 crore for Q2-2014.

     

    Consolidated expense at Rs 224.13 crore for Q2-2014 was 21.54 per cent higher than the Rs 184.66 crore for Q2-2013, and 2.3 per cent lower than the Rs 229.69 crore for Q1-2014. Den Network paid 18.4 per cent more towards content cost at Rs 90.54 crore for Q2-2014 as compared to the Rs 76.5 crore in Q2-2013 and the 6.5 per cent higher than the Rs 85.01 crore in Q1-2014.

     

    Depreciation and amortisation cost at Rs 37.04 crore for Q2-2013 was more than double (2.14 times) the Rs 17.29 crore for Q2-2013 and 11.47 per cent higher than the Rs 33.23 crore for Q1-2014. Den Networks has reported a foreign exchange loss of Rs 5.96 crore in its cable business for 2-2014.
    Den Networks claims that there is a significant demand for its digital cable services in its existing Phase III and IV markets. The pace of seeding is expected to pick up in the next few months. It also says that it is witnessing a lot of interest from smaller players (MSOs and LCOs) from Phases III and IV areas looking to align themselves with it and is receiving several such requests on a regular basis.

  • Sun TV reports PAT of Rs 169.16 crore for Q2-2014; encores interim dividend

    Sun TV reports PAT of Rs 169.16 crore for Q2-2014; encores interim dividend

    BENGALURU: A media conglomerate with one of the largest Indian television networks, Sun TV Network Limited (Sun TV) reported a PAT of Rs 169.16 crore, up 11.5 per cent as compared to the PAT of Rs 151.65 crore for the corresponding quarter of last year (Q2-2013) and 2.9 per cent higher than the Rs 164.44 crore for the immediate preceding quarter, Q1-2014.

    Last quarter (Q1-2014), the board of directors of the company had declared an interim dividend of Rs 2.25 per share (45 per cent). This quarter the board has declared interim dividend of Rs 2.50 (50 per cent) per share of Rs 5 each.

    Let us look at the other Q2-2014 figures reported by Sun TV

    The company reported Rs 466.41 crore as income from operations for Q2-2014 up 7.6 per cent as compared to the Rs 433.34 crore for Q2-2013, and lower by 22.5 per cent as compared to the Rs 601.85 crore for Q1-2014. It must however be noted that Rs 98.54 crore revenue came from the company’s IPL franchisee Hyderabad Sunrisers in Q1-2013 as compared to the Rs 5.43 crore for Q2-2014.

    Sun TV reported a total turnover of Rs 504.21 crore for Q2-2013, up 13.8 per cent as compared to the Rs 44.95 crore for Q2-2013. The company had reported total turnover of Rs 615.24 crore including IPL Franchisee turnover for Q1-2014.

    Sun TV reported total expense of Rs 246.29 crore (NIL IPL franchisee fee) for Q2-2014, 12.9 per cent higher than the Rs 218.17 crore for Q2-2013, but 32.6 per cent lower than the Rs 365.59 crore (this includes IPL franchisee fee of Rs 85.05 crore) for Q1-2014. The expense of Rs 246.29 crore includes expense of Rs 8.51 crore of its Sunrisers Hyderabad IPL team.

    Of the major expense heads, Sun TV has reported Rs 48.27 crore as employee benefit expense for Q2-2014, as compared to the Rs 42.89 crore for the corresponding quarter last year and the Rs 44.21 crore for Q1-2014. Other expenditure at Rs 36.51 crore was almost a third more (32 per cent more) than the Rs 27.66 crore for Q2-2013 and less than half (49.4 per cent of) the Rs 73.94 crore for Q1-2014.

    The company has not reported the breakup of its revenue and expense as has been its norm in the past.

  • NDTV reports improved q-o-q results with lower loss, improves EBIDTA for Q2-2014

    NDTV reports improved q-o-q results with lower loss, improves EBIDTA for Q2-2014

    BENGALURU: New Delhi Television Limited (NDTV) reported a lower consolidated net loss of Rs (-15.26) crore for Q2-2014, which was 57.5 per cent lower than the Rs (-24.04) crore for Q1-2014 (q-o-q), but about four per cent higher loss than the Rs (-14.68) crore the network reported for the corresponding quarter of last year (Q2-2013).

    However, it reported an improved EBIDTA of Rs 1.5 crore as compared to the Rs (-19.0) crore for Q2-2013. NDTV also reported a 19 per cent y-o-y growth for Q2-2014 at Rs 128 crore as compared to the Rs 108 crore for the same quarter.

    The Company has reported that it has sold its property in Noida for a sale consideration of Rs 30 crore. The gain of Rs 6.27 crore has been recognised in ‘Other Income’ in the standalone and consolidated financial statements recorded by the company. Consolidated other income for Q2-2014 at Rs 22.04 crore was almost quintuple the Rs 4.53 crore for Q2-2013 and the Rs 4.63 crore for Q1-2014.

    Let us look at the other figures for Q2-2014 reported by NDTV

    Consolidated total income from operations for Q2-2014 at Rs 106.19 crore was 2.8 per cent higher than the Rs 103.33 crore for Q2-2013 and 3.7 per cent higher than the Rs 102.4 crore for Q1-2014. Revenue from NDTV’s television media related segment for Q2-2014 at Rs 107.42 crore was four per cent higher than the Rs 103.33 crore for Q2-2013 and 4.7 per cent higher than the Rs 102.59 crore for Q1-2014. Its retail/e-commerce segment clocked revue of Rs 0.52 crore for Q2-2014. (Intersegment revenue adjustment of Rs 1.75 crore resulted in consolidated income from operations of Rs 106.19 crore for Q2-2014).

    Consolidated total expense at Rs 133.58 crore for Q2-2014 was almost flat as compared to the Rs 133.67 crore for Q2-2013 and 6.2 per cent more than the Rs 125.75 for Q1-2014. Production expense for Q2-2014 at Rs 22.84 crore was 2.2 per cent higher than the Rs 22.34 crore for Q2-2013, but 5.5 per cent lower than the Rs 24.11 crore for Q1-2014.

    In Q2-2014, the company spent 18.6 per cent less on marketing, distribution and promotional at Rs 25.43 crore as compared to the Rs 31.25 crore for the corresponding quarter last year (Q2-2013), but 17.9 per cent more than the Rs 21.57 crore for Q1-2014.

    Operating and administration expense at Rs 33.55 crore was 3.6 per cent higher than the Rs 32.39 crore for Q2-2013 and 17.4 per cent higher than the Rs 28.58 crore for Q1-2014.

    Its employee cost at Rs 44.92 crore for Q2-2014 was 10.45 per cent higher than the Rs 40.67 crore for the corresponding quarter of last year (Q2-2013) and almost the same as the Rs 44.93 crore for Q1-2014.

    The company claims that total revenue from Hindi News grew 54 per cent y-o-y. Revenue of NDTV’s digital arm, NDTV Convergence, was up by 64 per cent y-o-y. NDTV claims that NDTV Convergence registered 500 crore (five billion) page views, on an annualised basis, across mobile and web and 200 crore (two billion) minutes of streamed videos. It further says that NDTV Gadgets has become India’s biggest gadget site. NDTV’s first e-commerce venture IndianRoots.com was successfully launched on 28 July and is showing healthy sales traction says the company.