ITV

Category: Financials

  • Zeel reports Rs 21,126 million revenue in Q3’FY22

    Zeel reports Rs 21,126 million revenue in Q3’FY22

    Mumbai: Zee Entertainment Enterprises Ltd (Zeel) on Wednesday reported its financial results for the quarter ended 31 December 2021. The media conglomerate has posted revenues of Rs 21,126 million for Q3’FY22, down three per cent from Rs 21,781 million in Q3’FY21.  

    Thr revenue from advertising and subscription stood at Rs 12,608 million and Rs 7,902 million respectively. The corresponding figures for Q3’FY21 were Rs 13,020 million and Rs 8,419 million. There was a six per cent increase in overall expenditure. 

    The A&P spends went up from Rs 1,798 million in Q3’FY21 to Rs 2,282 million in the quarter ended 31 December 2021.

    The company PAT showed a degrowth of 10.1 per cent, from Rs 3,321 million in Q3’FY21 to Rs 2,987 million this quarter.  

    Zee’s network share fell from 18.2 per cent in Q3’21 to 17.3 per cent this quarter. Share for the last quarter was 17.7 per cent. Total TV viewership went down, as compared to the previous quarter, due to lower contribution by movies.

    The company’s OTT platform Zee5 witnessed significant growth in MAUs on the back of robust content release in Q3. 51 shows and films (which includes 11 originals) released during the quarter.

    Global MAUs (Monthly Active Users) and DAUs (Daily Active Users) in December 2021 stood at 101.9 million (YoY up 36 million), and 9.6 million (YoY up 4.2 million) respectively.

    Q3 revenues reported were Rs 1,459 million; up 12 per cent sequentially. 9M revenues stood at Rs 3,882 million (up by 24.6 per cent).  

    Average watch time increased from 133 mins in Q3’ FY21 to 201 mins in Q3’FY22. The QoQ is up by 15 mins.

  • AT&T likely to close WarnerMedia-Discovery merger by June-end

    AT&T likely to close WarnerMedia-Discovery merger by June-end

    Mumbai: US major AT&T has reported its fourth-quarter financial results on Wednesday. The company’s WarnerMedia segment posted revenues of $9.9 billion, a growth of 15.4 per cent year-on-year driven by content licensing and direct-to-consumer subscription growth. The company said that it expects the WarnerMedia-Discovery transaction to close by the second quarter of 2022.

    “We are encouraged with how the process for the WarnerMedia deal is progressing and now expect the transaction to close in the second quarter,” said AT&T CEO John Stankey. “Coming off an outstanding year with HBO Max, we plan to hand off the business with a strong exit velocity, and we look to further our international momentum and deliver more world-class content for viewers.”

    He further added, “When the deal closes, the investments made in both content and HBO Max growth, coupled with strong execution by the team, will ensure Warner Bros Discovery is positioned as a leading global media company with the depth of content and the capabilities required to lead in the next era of media.”

    WarnerMedia’s streaming service HBO Max added 13.1 million subscribers in 2021 and currently has a base of 73.8 million subscribers globally. The investor presentation also revealed that WarnerMedia saw a DTC subscription revenue growth of 11.5 per cent from $1.7 billion to $1.9 billion in the fourth quarter.

    In May 2021, AT&T announced that it had proposed a merger between Discovery Inc and its media subsidiary WarnerMedia, which would be spun off into a new publicly-traded company to be known as Warner Bros Discovery. The merged entity would be led by Discovery CEO David Zaslav. The transaction was approved by the European Commission in December 2021 and it is expected to be completed in mid-2022.

  • PVR Q3 results: Revenue surges 5.3x QoQ, 36% below pre-Covid levels

    PVR Q3 results: Revenue surges 5.3x QoQ, 36% below pre-Covid levels

    Mumbai: Multiplex chain PVR has reported a revenue surge of 5.3 times QoQ and approximately nine times YoY to Rs 5.9 billion in the third quarter ending 31 December 2021. 

    Occupancies remained soft at eight per cent, but saw a strong improvement to nearly pre-Covid levels by the end of Q3’FY2022. This was offset by a 26 per cent ATP (Average Ticket Price) increase to Rs 255. Spends/head (SPH) remained constant at Rs 128, PVR said in a statement.

    The total screen count improved to 860 from 855 in Q2’FY2022. PVR added five screens in Q3’FY2022 and 40, or five per cent, since the pre-Covid (Q3’FY2020) period. The company’s net loss narrowed down to Rs 220 million.

    The business has been impacted by the third Covid-19 wave. However, as releases in February and March 2022 have not been postponed, a quick recovery is expected once the situation normalises, said the company.

    At present, multiplexes have an exclusive window of four weeks. This is expected to return to the pre-Covid standard of eight weeks after March, it added.

    Currently, PVR is focusing on the completion of screens that are in the pipeline. It expects to resume the pace of additions (80-100 screens pre-Covid) as soon as normalcy returns.

  • Inox Leisure reports revenues of Rs 301 crore in Q3’ FY22

    Inox Leisure reports revenues of Rs 301 crore in Q3’ FY22

    Mumbai: Inox Leisure Ltd (Inox) has reported financials for the third quarter ending 31 December 2021. The company has posted revenues at Rs 301 crore. The occupancy rate touched 19 per cent with 9.4 million guests visiting Inox cinemas across the country. 

    The quarter also reported the highest ever quarterly Average Ticket Price (ATP) at Rs 226 and the highest ever quarterly Spends Per Head (SPH) at Rs 97.

    A sharp recovery was signaled by major business metrics showing a significant reduction in gap with pre-Covid levels largely due to good content and reduced apprehensions post widespread vaccination.

    The response to “Sooryavanshi,” “Spider-Man: No Way Home,” “Annaatthe,” “Pushpa: The Rise,” and “83” was comparable with the pre-pandemic times, with two films garnering box-office collections in excess of Rs 200 crore and three in excess of Rs 100 crore.

    Inox added three new properties with 13 screens in Q3’FY22 at Aurus Mall, Guwahati, Prabhatam Grand Mall, Dhanbad and WorldMark, Gurugram. In all, CY2021 ended with the addition of 41 new screens. The company now operates 158 multiplexes with 667 screens in 70 cities across the country. Of the planned 41 screens in FY’22, 24 have been launched, while work on 17 screens is nearly 80 per cent complete.

    Besides being net debt-free, the company has also managed to maintain liquidity of close to Rs 300 crore including undrawn limit of Rs 120 crore.

    “Besides being resilient, we maintained an optimistic outlook during the adverse phase over the past eight quarters,” said Inox Group director Siddharth Jain. “Thanks to our strong fundamentals, the spectacular content flow and above all, the infinite passion for cinema prevailing in our country, we have proudly witnessed the recovery happening.”

    “With the addition of 41 new screens, the highest in the industry in CY2021, we have shown that adversities could not dent our passion. Enlightened with lessons from the past, our path ahead will be underlined by innovation and rigor. We will certainly gain strength from our excellent liquidity levels and a zero net debt position,” he further added.

  • Vodafone Idea reports consolidated loss of Rs 7,231 cr in Q3

    Vodafone Idea reports consolidated loss of Rs 7,231 cr in Q3

    Mumbai: Vodafone Idea on Friday reported a consolidated loss of Rs 7,230.9 crore for the third quarter ending December 2021. This is up from Rs 4,532.1 crore that the telecom major reported in the corresponding quarter previous year.

    It had posted a net consolidated loss of Rs 7,132 crore in the September quarter of 2021.

    The company’s revenues also declined to Rs 9717 crore a year-on-year. The total gross debt (excluding lease liabilities and including interest accrued but not due) for the company stands at Rs. 1,98,980 crore, comprising of deferred spectrum payment obligations of 1,11300 crore, AGR liability of Rs 64,620 crore that is due to the government and debt from banks and financial institutions of Rs. 23,060 crore.

    However, it improved its average revenue per user (ARPU) to Rs 115 up by 5.2 per cent quarter-on-quarter, due to several tariff interventions to improve ARPU, it said as it reported its Q3 results on Friday.

    The total subscriber base declined to 24.72 crore. However, 4G subscriber base continued to grow with 8 lakh customers added in Q3, 4G base now stands at 11.7 crore. Subscriber churn increased to 3.4 per cent versus 2.9 per cent in the previous quarter. The data usage per 4G subscriber is now at ~14 Gb/month versus 12 Gb/month a year ago.

    Vodafone Idea said that it added ~4000 4G FBB sites in Q3 primarily through the refarming of 2G/3G spectrum to expand their 4G coverage and capacity. Its overall broadband site count stood at 450,330 marginally lower compared to 450,481 in the previous quarter as it continued to shutdown 3G sites in a phased manner. Till date, the company has deployed nearly 67,000 TDD sites in addition to the deployment of ~13,850 massive MIO sites and ~13,150 small cells. Furthermore, the company continues to expand its LTE 900 presence in 12 circles at multiple locations, including through dynamic spectrum refarming, to improve customer experience.

  • Reliance net profit jumps 41 % YoY to reach Rs 18,549 crores in Q3

    Reliance net profit jumps 41 % YoY to reach Rs 18,549 crores in Q3

    Mumbai: Mukesh Ambani-led conglomerate Reliance Industries Ltd (RIL) continued its golden run, and posted a net profit of Rs 18,549 crores for the third quarter ended 31 December 2021. This is an increase of 41 per cent from ₹13,101 crore reported a year ago during the same period.

    The company had posted a profit of Rs 13,680 crore in the September 2021 quarter.

    “I am happy to announce that Reliance has posted best-ever quarterly performance in 3Q FY22 with a strong contribution from all our businesses. Both our consumer businesses, Retail, and Digital services have recorded the highest ever revenues and EBITDA,” said RIL chairman and MD Mukesh Ambani on Friday.

    Ambani said the company continued to focus on strategic investments and partnerships across its businesses to drive future growth in the last quarter. “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad-based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” he added.

    The consolidated revenue for the company by market-capitalisation grew to Rs 1,91,271 crore, up by 62 percent for the quarter from Rs 1,17,860 crore in the year-ago period. Revenues in the previous quarter stood at Rs 1,67,611 crore.

    Reliance Jio’s revenue rise five per cent at Rs 19,347 crore

    The net profit of Reliance Jio, the telecom arm of the company rose 10 per cent YoY to Rs 3,615 crore for Q3. It was Rs 3,291 crore in the last year period. The revenue rose five per cent at ₹19,347 crore as against ₹18,492 crore in the last year period. “Jio now has over five million connected wireline customers and has been consistently enhancing its FTTH product with new apps on STB, Society Centrex, 4K content on JioTV+, Home Secure, Home Automation, LiveTV and Gaming solutions,” the conglomerate said.

    Jio also undertook ~20 per cent hike across prepaid plans effective 1 December 2021 in line with other industry operators. According to the company, while the ARPU is set to improve to Rs 151.6 led by a better subscriber mix and recent tariff hike, the full impact of tariff hike will be reflected in ARPU and financials over the next few quarters. During 3Q FY22, average data and voice consumption per user per month increased to 18.4 GB and 901 minutes, respectively.

    Meanwhile, Jio continues to maintain its top position in the 4G speed chart with a 22.0 Mbps average download speed in December 2021, according to the latest Telecom Authority of India (Trai) report.

    Ambani also highlighted that the recovery in global oil and energy markets supported strong fuel margins and helped its O2C business deliver robust earnings. “Our Oil & Gas segment delivered strong growth in EBITDA with volume growth and improved realisation. We are making steady progress towards achieving our vision of Net Carbon Zero by 2035. Our recent partnerships and investments in technology leaders in the solar and green energy space is illustrative of our commitment to partner India and the World in the transition to clean and green energy. We continue to pursue growth initiatives and collaborate with global leaders who share our vision of a sustainable future for our planet,” he added.

  • Den Networks posts consolidated revenues of Rs 294 cr in Q3 FY22

    Den Networks posts consolidated revenues of Rs 294 cr in Q3 FY22

    Mumbai: Den Networks has released its financial results for the third quarter of FY 2022. The company reported consolidated revenue of Rs 294 crore and consolidated EBITDA of Rs 50 crore. It reported a profit after tax of Rs 44 crore and cash and cash equivalents stood at Rs 2525 crore.

    The company saw subscription revenues at Rs 177 crore a decline of three per cent quarter-on-quarter and 12 per cent year-on-year. Its income from marketing/placement stood at Rs 86 crore, a decline of 12 per cent QoQ and 19 per cent YoY. Other operating income stood at Rs 12 crore a 52 per cent decline QoQ but a 70 per cent increase YoY. Its activation revenues stood at Rs 20 crore, a five per cent decline QoQ and 30 per cent decline YoY.

    The company’s content costs stood at Rs 149 crore, a seven per cent decline compared to the previous quarter and an eight per cent decline YoY. Personnel costs stood at Rs 20 crore and other operational expenses at Rs 70 crore.

    Den Networks operates a cable TV distribution business spread across 500+ cities/towns in 13 states and a broadband business that is available across 41 cities/towns in India. 

  • Network18’s revenue up by 16.5% YoY at Rs 1657 cr in Q3 FY22

    Network18’s revenue up by 16.5% YoY at Rs 1657 cr in Q3 FY22

    Mumbai: Network18 Media and Investments on Tuesday announced the third-quarter results for FY 2022. The media company reported its highest ever EBITDA at Rs 373 crore with margins of 22.5 per cent. It reported the highest ever quarterly revenue of Rs 1657 crore up by 16.5 per cent year-on-year.

    Network18’s entertainment business margin was at 21.4 per cent and revenue was up by 16 per cent year-on-year. Its TV news business saw a sharp improvement in margin to 27.2 per cent and revenue was up by 13 per cent year-on-year.

    The company’s digital news revenue grew by 41 per cent year-on-year and margins were at 21.2 per cent. Its profit before tax rose by 31 per cent YoY to Rs 337 crore driven by growth in revenue, controlled operational expenditure and lower finance costs.

    “TV industry saw record high advertising volumes in the third quarter driven by strong consumer demand, increased spending by existing brands for a higher share of voice and new advertisers using the medium to widen their reach,” said the company in a statement.

    “domestic subscription revenue for the quarter was flattish YoY while international subscription revenue saw a decline. The implementation timeline of NTO 2.0 regulation was postponed during the quarter by the regulator to 1 April ’22 even as the litigation regarding its validity continued in the Supreme Court of India,” it further added.

    The company’s entertainment business portfolio under Viacom18 is expanding into sports broadcasting by acquiring rights to NBA, footballing events such as FIFA World Cup 2022, La Liga, Serie A, Ligue 1, Cinch Premiership, and other sporting events like ATP Masters Tennis, Abu Dhabi T10, World Boxing Championship and Road Safety World Cricket Series.

    Viacom18’s OTT platform Voot reported strong growth in its paid subscriber base during the quarter driven by the new season of Bigg Boss. The show garnered 15 billion+ minutes of watch time (AVOD+SVOD) with a daily TSV of 64 minutes during the quarter.

    The company noted its share of the entertainment network in the non-news genre was 11 per cent with Colors being the second best channel in the pay Hindi GEC genre.

    “We are building a strong and sustainable media franchise which not only delivers quality content to Indian audiences but also value to the shareholders,” said Network18 chairman Adil Zainulbhai. “Over the last few years, we have taken several significant steps which have helped us achieve the turn around on the profitability front and it is really encouraging to see the business now consistently deliver healthy margins, especially the digital news business which has been growing in a profitable manner. As we have seen over the last several years, content consumption is an integral part of consumers’ lives and there is a willingness to spend more time and money, provided they get access to quality content at an affordable price. Also, consumers are increasingly becoming platform-agnostic, with both TV and Digital growing simultaneously. Our endeavor is to cater to all consumers looking for news and entertainment content in their local languages, movies and leading sports events, on platforms of their choice.”

  • Nxtdigital clocks 15.48% revenue growth in H1

    Nxtdigital clocks 15.48% revenue growth in H1

    New Delhi: Integrated digital platforms company Nxtdigital, the media vertical of the Hinduja Group has reported a 15.48 per cent growth in its consolidated revenues for the half year ending 30 September. The revenue reached Rs 543.42 crore, up from Rs 470.58 crores for the corresponding period of the previous year.

    The company with a presence in digital cable, satellite (Hits), broadband and content syndication announced its results for the quarter and half year ending 30 September on Thursday.

    Nxtdigital continued to maintain a robust EBIDTA at Rs 102.89 crore for the half year, and ended the second quarter with a 17.38 per cent year-on-year revenue growth, closing at Rs 276.83 crore against Rs 235.76 crore in Q2 of the previous fiscal. It maintained a robust EBIDTA at Rs 51.63 crore.

    The company attributed its revenue growth to its strategy and aggressive growth plans, with a clear focus on positive cashflows across business verticals.

    The broadband business segment crossed 7.2 lakh subscribers. Nxtdigital also launched 40 future-ready Nxthubs across the country – each with digital capability of providing video, broadband and other emerging solutions including OTT and WiFi to distribute up to 650 digital TV channels received via satellite.

    Even whilst the pandemic continued to have a bearing on the media and entertainment industry, Nxtdigital’s business verticals continued to grow. Buoyed by the demand for internet connectivity across retail customers and enterprise businesses, the broadband business vide its subsidiary OneOTT Intertainment crossed 7.2 lakh subscribers, clocking a growth rate of 76 per cent in Q2 of the current fiscal over last year.

    “Our performance in the first half of this fiscal reflects the company’s focus on growth, gradually emerging out of the challenges of the pandemic that still have a bearing on the media and entertainment industry,” stated Nxtdigital CEO and MD Vynsley Fernandes. “Our strategy for the rest of this fiscal is premised on leveraging the strength of our solutions and our pan-India footprint of touch-points. With a network of Nxthubs offering a host of digital services – ranging from video and broadband, to OTT and WiFi; and layered by our growth in our broadband base and our infrastructure sharing platform – we believe we will not just see growth but also unlock value across our media businesses.”

    The company also informed that it continues to dispose off its non-core assets to reduce debt, and it has sold land held by it in Hyderabad for a total consideration of Rs 69.30 crore, originally acquired at an approximate cost of Rs 25 crore.

    The Rights Issue announced on 13 May by the company – of two equity shares for every five equity shares held in the company, at an issue price of Rs 300 per share is scheduled to open on 15 November and close on 29 November.

    For Q3 and Q4, Nxtdigital said it will continue on its aggressive growth strategy focusing on three key verticals, expanding its footprint through another 60 Nxthubs; continuing to grow its broadband base through a mix of combo products, organic and inorganic growth; and operationalising the infrastructure sharing model, which has now secured all necessary permissions to become India’s first digital content distribution PaaS platform.

  • Discovery ends Q3 with $20 mn DTC subs, $425 mn next generation revenues

    Discovery ends Q3 with $20 mn DTC subs, $425 mn next generation revenues

    Mumbai: Discovery Inc ended Q3 with 20 million DTC (direct-to-consumer) subscribers, an increase of three million subscribers since the end of Q2. The company generated $425 million of next generation revenues (growth of approximately 100 per cent versus the prior year quarter) with global D2C ARPU of approximately $ five and $ seven blended discovery+ ARPU in the US, supported by our over $10 ARPU for the discovery+ Ad Lite product.

    Discovery Inc recently launched discovery+ in Canada and the Philippines in addition to finalising a multi-year US distribution agreements with DirecTV and Verizon. The company also successfully broadcast the Tokyo 2020 Summer Olympic Games, which reached over 372 million people in Europe across TV and digital platforms, and delivered 1.3 billion minutes of Olympics content on its streaming services, it said in a statement.

    Total US networks revenues increased 12 per cent to $1,858 million compared to the prior year quarter. Total revenue reported was $3,150 million; increased 23 per cent compared to the prior year quarter.

    Among the reporting segments, starting with the US, Q3 advertising revenues increased five per cent year-over-year. There was strong demand for discovery+ Ad Lite product, which contributed to the growth in the quarter. Distribution revenues increased 21 per cent year-over-year, largely due to the continued growth of discovery+ as well as linear affiliate rate increases, in part helped by successful renewals with DirectTV, Verizon, Hulu, and Altice.

    International advertising increased 26 per cent versus last year as the global advertising marketplace continued to recover from the pandemic. International distribution revenues grew six per cent during the quarter, primarily due to the growth in direct-to-consumer subscribers, which have nearly tripled over the past year across our footprint outside the US, in part aided by Olympics sign-ups.

    Investment losses for the quarter were in the low $200 million range, slightly better than last quarter.