ITV

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  • Hathway promotes Milind Karnik

    Hathway promotes Milind Karnik

    MUMBAI: For long, Hathway Cable & Datacom old-timer Milind Karnik has been mandated with running the cable TV MSO’s secretarial operations as company secretary. Now he has been given a new role: as the head of commercial – all India and also the western India head. Karnik has been with Hathway since 1998 and he has resigned from his earlier position to take up the post, Hathway informed the BSE on 6 December. Replacing him is Ajay Singh, who has been appointed as company secretary and compliance officer.

     

    Singh has an experience of 17 years. He has moved to Hathway from Real Networks India. Prior to this, Singh has worked with Drishtee Dot Com, Rangs Technologies and PACL India.

     

    While Karnik was already handling the commercial business in the western region, in his new role, he will be handling the all India commercial business for Hathway.

     

    “With digitisation, one needs to get the consumer billing and consumer application form in place for phase I and II respectively. This is a huge task. Also, in my new role, I will be working towards successfully completing phase III and phase IV of digitisation in western India,” informs Karnik, who plans to focus more on DAS phase III and IV now.

     

    Karnik will work with Hathway subsidiaries including Hathway Bhawani and Hathway Rajesh as well. He will serve on the GTPL Hathway board.

     

    Karnik will also handle commercial business in hotels which has a different tariff structure. “Hotels are still not digitised and so I will be concentrating on that as well.  We need to explain to the 3-Star and 5-Star properties where room base is 50 and above that digital feed is better than analogue,” he says.

     

    “In the case of hotels, we also aim to focus on pay per view, which is a niche segment. That apart, I will be dealing with internet bandwidth in the commercial segment,” he concludes.

  • Pressman Advertising reports 6 per cent q-o-q revenue growth for Q2-2014

    Pressman Advertising reports 6 per cent q-o-q revenue growth for Q2-2014

    BENGALURU: Pressman Advertising Limited (Pressman), probably the first advertising agency that was listed on the NSE and BSE last month reported a revenue growth of 5.9 per cent for Q2-2014 at Rs10.15 crore as compared to the Rs 9.58 crore for the immediate trailing quarter Q1-2014.

     

    PAT for Q2-2014 was about 1.1 per cent lower at Rs 1.9975 crore than the Rs 2.0198 crore for Q1-2014. The company reported revenue of Rs 46.96 crore and a PAT of Rs 6.29 crore for FY-2013 and paid a dividend of 40 per cent.

     

    In Q1-2014, the company had released Rs 1.461 crore that had been earlier written off and this amount helped in inflating the profit for that quarter. This year the company has added Rs 0.6 crore to exceptional items – write back of liability provided for earlier year no longer required.

     

    Expenditure for Q2-2014 at Rs 8.89 crore was 3.2 per cent lower than the Rs 9.18 crore for Q1-2014. Cost or services for Q2-2014 at Rs 7.49 crore was 4 per cent lower than the Rs 7.8 crore for Q1-2014.

     

    For the half year ended 30 September 2013, the company’s gross income (including  exceptional items) stood at Rs 22.089 crore and PAT at Rs 4.02 crore. As on 31 March 2013, the company had Reserves and Surplus (excluding revaluation reserves) of Rs13.75 crore on a paid up capital of Rs 4.6966 crore.

     

    Notes: (1) The name of the company has changed from Nucent Estates Limited to Pressman Advertising Limited with effect from 22 August 2013.

     

    (2) Current quarter/half-year’s figures are not comparable for those of last year on account of effect of amalgamation
    (3) Please read the attached financial results

  • BAG Films bags Urmila Gupta as additional director

    BAG Films bags Urmila Gupta as additional director

    MUMBAI: The Anurradha Prasad owned BAG Films has been strengthening its senior management. A couple of months ago, it announced the appointment of television veteran Ravina Raj Kohli as an advisor. Today, it informed the Bombay stock exchange (BSE) that it had roped in a new additional director in former DD and Star TV professional Urmila Gupta.

     

    Currently, Gupta is a trustee director at Cinema Capital, an investment advisory company. She is also a producer/promoter at Taal India Communication. Confirming her appointment, BAG Network MD and chairperson Anurradha Prasad says, “We welcome her to the company. She is an old TV hand with a 360 degree experience. She will add a lot of value to BAG.”

     

    Gupta has over 35 years of experience in the media and entertainment sector. She was the head of the India International Film Festival for many years. Later, she joined Doordarshan as deputy director general of its news and current affairs division.

     

    In 1996, Gupta joined Rupert Murdoch’s News Corp as executive director of Star TV group. She headed its DTH operation in India called I Sky B which got dissolved, leading to her leaving the company in 1999. Apart from this, she has also worked with the Indian government for nearly 28 years.

  • India Infoline Finance Limited Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) subscribed 2.2 times

    India Infoline Finance Limited Public Issue of Secured Redeemable Non-Convertible Debentures (NCDs) subscribed 2.2 times

    India Infoline Finance Limited’s Public Issue of Secured Redeemable Non-Convertible Debentures received an overwhelming response with total subscription amounting to Rs. 11,540 mn as per the initial data on the stock exchanges. The IIFL Secured Bonds issue was subscribed 2.2 times (as of 5:30 pm on September 23) on the Issue Closing Day.

     

    Nirmal Jain, Chairman, India Infoline Group, said, “We are overwhelmed by such record response with bids for Rs. 1154 crore to our Rs. 525 crore NCD issue, particularly in the backdrop of such tight liquidity conditions and uncertain environment. The response from retail investors with bids of over Rs. 500 crore is a reaffirmation of trust in the brand IIFL.  Similar robust response from institutional investors is a vote of confidence in our risk management and governance.  We remain committed to live up to the trust and confidence of retail as well as institutional investors.”

     

    According to the stock exchanges data, all the categories under the Issue were oversubscribed. As per the stock exchanges data, Categories III (retail individual investors, NRIs and Hindu families) has been subscribed to approximately around 1.93 times. As per the stock exchanges data, Categories II has been subscribed to approximately around 1.98 times. As per the stock exchanges data, Categories I (Institutions) has been subscribed to approximately around 2.6 times.

     

    The NCDs will be listed on National Stock Exchange of India Limited (“NSE”) and BSE Limited (“BSE”) and will have a tradable lot size of 1 NCD.

     

    Disclaimer: India Infoline Finance Limited (“Issuer” or “the Company”) , has proposed to offer public issue of Secured Redeemable Non-Convertible Debentures through Prospectus filed with ROC, NSE, BSE and Securities and Exchange Board of India (for record purposes) read with Corrigendum issued in all editions of Financial Express, Navashakti and Jansatta on September 16, 2013. The Prospectus is available on the website of the stock exchanges at www.nseindia.com and www.bseindia.com; on the website of Securities and Exchange Board of India at www.sebi.gov.in; and the respective websites of the Lead Managers at www.axiscapital.co.in, www.iiflcap.com, www.trustgroup.co.in, www.idbicapital.com and Co-Lead Managers at www.rrfinance.com/rrfcl.com, www.karvy.com, www.smccapitals.com.  Investors proposing to participate in the Issue should invest only on the basis of information contained in the Prospectus and special attention is drawn to the risk factors contained therein.

     

    “It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the Prospectus has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the Prospectus. The investors are advised to refer to the Prospectus for the full text of the ‘Disclaimer Clause of the BSE Limited.”

     

    “It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document for the full text of the ‘Disclaimer Clause of NSE”.

  • Prime Focus: 77% rise in q-o-q profit from operations for Q1-2014; lower net profit

    Prime Focus: 77% rise in q-o-q profit from operations for Q1-2014; lower net profit

    BENGALURU: Indian visual effect and 3-D conversion player Prime Focus Limited (Prime Focus) reported consolidated profit from operations for Q1-2014 at Rs 34.26 crore which was 76.72 per cent higher than the Rs 19.39 crore for the previous quarter Q4-2013 but was 5.85 per cent lower than the Rs 36.39 crore for Q1-2013.

    However, consolidated net profit after tax and minority interest for Q1-2014 at Rs 8.53 crore was 31.4 per cent lower than the Rs 12.44 crore for Q4-2013 and just 40.6 per cent of the Rs 20.98 crore for Q1-2013.

    Let us look at Prime Focus’ other figures for Q1-2014

    Net Sales/Income from operations on a consolidated basis for Q1-2014 at Rs 188.47 crore was almost flat (0.14 per cent higher) as compared to the Rs 188.21 crore for Q1-2013 and 4.3 per cent lower than the Rs 193.87 crore for Q4-2013.

    Prime Focus reported an exchange gain of Rs 14.06 crore in Q1-2014 which was 12.05 per cent more than the exchange gain of Rs 12.54 crore in Q1-2013. In Q4-2013 the company incurred an exchange loss of Rs 3.01 crore.

    Neglecting the exchange gain or loss, Prime Focus reported consolidated expenditure of Rs 168.26 crore which was 2.37 per cent higher than the Rs 164.36 crore in Q1-2013 and 3.6 per cent lower than the Rs 17.45 crore in Q4-2013.

    Depreciation and amortisation cost of Rs 22.47 crore for Q1-2014 was 8.2 per cent higher than the Rs 20.77 crore in Q1-2013 and 36.4 per cent lower than the Rs 35.32 crore for Q4-2013.

    Personnel cost for Q1-2014 at Rs 88.35 crore was higher by 1.2 per cent as compared to the Rs 87.29 crore in Q1-2013, but 6.1 per cent lower than the Rs 94.12 crore for Q4-2013.

    Other expenditure for Q1-2014 at Rs 51.67 crore was 24.8 per cent higher than the Rs 41.42 crore for Q1-2013 and almost flat (0.4 per cent lower) as against the Rs 51.88 crore for Q4-2014.

    Finance cost at Rs 13.05 crore for Q1-2014 was 67.5 per cent higher than the Rs 7.79 crore for Q1-2013 and 19.3 per cent more than the Rs 10.94 crore for Q4-2013.

    Exceptional Item:

    Exceptional item includes revaluation loss of Rs 82.28 crore on redemption of FCCBs of $55 million on 13 December, 2012 and also includes provision and write off of debtors amounting to Rs 25.38 crore.

    As a part of reorganisation of businesses of the group under common control, Prime Focus Technologies acquired the New York based post-production business from Prime Focus World on 1 April, 2013. As a result of this there is a write-down in the value of assets by Rs 721.68 lakh ($1.3 million) during Q1-2014.

    Notes:

    (1)  The Company has informed BSE that the Board of Directors of the Company at its meeting held on 21 June, 2013, inter alia, has transacted the following:
    a) Took on record principal terms and conditions on which Prime Focus World, N.V. proposes to raise $38,000,000 from Macquarie (UK) Group Services Limited at an Enterprise Valuation of USD 300 million.

    b) Considered and approved to provide a corporate guarantee for an amount not exceeding $44,650,000 in favour of Macquarie (UK) Group Services Limited to secure the obligations of Prime Focus World Limited, Mauritius, a wholly owned subsidiary of Prime Focus.

    (2)  The Board of Directors of Prime Focus at its meeting held on 5 August, 2013, inter-alia, has considered and approved to sell, transfer, and/or otherwise dispose of its ‘Backend Business’, which includes (a) business of providing the services 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) the business of providing the services of computer generated film visual special effects by the Company to PFW (“VFX Business”),to Prime Focus World Creative Services Pvt. Ltd.’, a company incorporated in India and an indirect controlled subsidiary of the Company on a going concern basis by way of slump sale for a total consideration not less than INR equivalent of $38 million subject to the approval of the shareholders of the Company through a postal ballot and on receipt of requisite/regulatory approvals.

    Click here for Prime Focus – Financial Result

  • TV Today telecasts 16 per cent net profit rise in FY 2013

    TV Today telecasts 16 per cent net profit rise in FY 2013

    MUMBAI: Its FM radio broadcasting business is on the turnaround trail. And that – apart from its mainstay its news TV channels Aaj Tak, Headlines Today, Dilli Aaj Tak and Tezz- has helped Living Media India Ltd’s (The India Today group’s) television & FM radio broadcasting arm, TV Today Network, post a pleasing 16 per cent rise in its net profit in the year ended 31 March 2013. However, its Q4 2013 net profit has fallen 13.3 per cent against the corresponding previous year’s Q4-2012.

    TV Today Network has been one of the more efficiently run news organisations in the Indian news broadcasting sector and has been reporting profits for some time now. Other listed news TV organisations have been bleeding and have just about starting showing profits. Hence, its Q4-2013 results appear to be just an aberration.

    Let us look at the standalone Q4-2013 financials as against Q4-2012

    Q4-2013 total revenues stand at Rs 84.27 crore, a drop of over 4.7 per cent as against last corresponding Q4-2012’s Rs 88.46 crore. Its TV broadcasting business contributes nearly 97 per cent at Rs 81.63 crore to its revenues while its FM radio broadcasting operations through its channel ‘Oye 104.8’ generated Rs 2.64 crore.

    The broadcaster has managed to pare some of its expenses at Rs 77.89 crore in Q4-2013 as against last corresponding Q4-2012’s Rs 78.33 crore. The marginal difference is on account of its production costs being reduced to Rs 10.36 crore (Rs 11.24 crore).

    Even though the company has seen a 13 per cent reduction in its net profit for Q4-2013 to Rs 6.36 crore (as against Q4-2012’s Rs 7.33 crore), what is heartening is the narrowing of its losses from its FM radio division in Q4-2013 to Rs 2.74 crore from Rs 4.46 crore in Q4-2012.

    Let us take a look at the consolidated financials for the year ending 31 March 2013

    As mentioned earlier, efficient management of its FM radio operations has helped TV Today Network in FY-2013. Its net profit for FY-2013 had a handsome increase of 16 per cent to Rs 12.21 crore (Rs 10.52 crore in FY-2012). A large part of this increase can be attributed to the decrease in losses at its FM radio division to Rs 13.24 crore from Rs 18.59 crore in FY-2012.

    Total revenue for FY 2013 rose to Rs 312.66 crore as against FY-2012’s Rs 308.43 crore with TV broadcasting revenues contributing Rs 302.69 crore as against Rs 300 crore in FY-2012. Its FM radio division chipped in with Rs 9.98 crore as against Rs 8.09 crore last fiscal.

    The company claims that its profits have been squeezed further on account of its payments to BSNL and Prasar Bharti amounting to Rs 80 lakh and monitoring charges for foreign satellite amounting to Rs 76.91 lakh.

    From the short term perspective, its current liabilities including trade payables have significantly increased to Rs 128.39 crore in FY-2013 as against Rs 94.16 crore in FY-2012, a worrying 36 per cent rise, especially when its current assets have shot by only 24 per cent during the same period.

    TV Today Network has made a strategic investment of Rs 45.52 crore in Mail Today Newspapers which is bringing out a daily newspaper in the north. Though Mail Today is in the initial stages of operations and presently incurring losses, the company holds a confident outlook of its future profitability.

    The company has announced a 15 per cent dividend, even as the share closed at Rs 84.85 by the time trading ended on BSE.

  • TV Today scrip up 15% on market buzz of Birla Group taking stake in promoter company

    TV Today scrip up 15% on market buzz of Birla Group taking stake in promoter company

    MUMBAI: TV Today Network shares Monday climbed 15.23 per cent on the market buzz that Aditya Birla Group is picking up 25 per cent stake in Living Media India (India Today Group), the Indian media conglomerate that holds interests in magazines, television, radio, printing and the Internet.

    Shares of TV Today Network, which runs a clutch of news channels including Aaj Tak and Headlines Today, closed at Rs 68.10 on the BSE.

    Indiantelevision.com could not verify the news. Senior officials of the company, including CEO Ashish Bagga, could not be reached.

    LMI owns 57.1 per cent stake in TV Today Network, according to data available till 31 December 2011.

    NDTV shares also got a lift, climbing 9.4 per cent to close at Rs 48.90.

    The BSE Sensex shed 1.51 per cent, or 264 points to close Monday at 17,222.14 due to banks, metals and capital goods stocks.

  • TV 18’s national news ops break even in Q3

    TV 18’s national news ops break even in Q3

    MUMBAI: The national news business of TV18 Broadcast has attained break-even status while losses continue to kick in from regional news operations.

    TV18‘s general news operations on a combined level, however, posted an operating loss of Rs 16 million for the fiscal third quarter, reversing from a profit of Rs 71 million in the earlier year. The loss in the second quarter of this fiscal was lower at Rs 7 million.

    Operating profit from the business news segment has narrowed to Rs 108 million for the three months ended December 2011, from Rs 225 million a year ago.

    TV18‘s operating loss from combined news operations was Rs 162 million, reversing from a profit of Rs 296 million in the earlier-year quarter. Revenue grew to Rs 1.67 billion compared to Rs 1.53 billion a year ago.

    In the general news segment, revenue rose to Rs 773 million, from Rs 744 million in the third quarter of the previous fiscal. For business news, revenue stood at Rs 876 million, up 11 per cent.

    Revenue from infotainment channel History 18, which was launched in the third quarter of this fiscal, stood flat at Rs 22 million. The channel posted a loss of Rs 253 million.

    Digital business continued to be in the red with the loss widening almost 51 per cent to Rs 322 million. Revenue rose 10 per cent to Rs 584 million.

    Web18 recorded revenues of Rs 263 million, a growth of 21 per cent over the corresponding quarter last year on a proforma basis. Newswire18 delivered revenues of Rs 108 million for the quarter, and HomeShop18 Rs 213 million, a growth of 28 per cent over the corresponding quarter last year.

    On a consolidated basis, TV18 Broadcast posted a net loss of Rs 535 million for the fiscal third quarter , mainly due to new channel launches.

    The company‘s consolidated net profit in the same quarter of the earlier year stood at Rs 198 million.

    Revenue increased to Rs 3.43 billion, up from Rs 2.36 billion a year ago.

    TV18‘s consolidated numbers include 100 per cent standalone and AETN18, 50 per cent share of Viacom18 and 50 per cent share of IBN Lokmat.

    The company‘s shares closed at Rs 31.30, down 2.03 per cent on the BSE.

  • TV Today Q1 operating profit from news biz shrinks 9.8%

    TV Today Q1 operating profit from news biz shrinks 9.8%

    MUMBAI: TV Today Network‘s first quarter operating profit from the television news business has shrunk 9.81 per cent due to a slowing growth in revenue and a surge in staff expense, while the radio segment has reported a 60 per cent jump in turnover.

    The company, which runs news channels that include Aaj Tak and Headlines Today, has posted an operating profit of Rs 44.24 million from the TV broadcasting business, down from Rs 49.05 million a year ago.

    Revenue from this segment grew 7.5 per cent to Rs 689.80 million for the first three months ended June 2011, compared with Rs 641.39 million in the earlier year.
            
      Overall, TV Today Network has reported a net loss of Rs 2.82 million during the first quarter of the fiscal, dragged down by its losses from the FM radio business. In the same quarter last year, the company had earned a net profit of Rs 203.92 million.

    For the first time, however, it is not just the losses in the radio business that has affected the bottom line of the company but also a 27.32 per cent increase in the employee cost.

    TV Today Network’s expenses surged to Rs 713.34 million, compared to Rs 454.35 million a year ago. The spend on staff salary was Rs 246.8 million, up from Rs 193.84 million. The company said that the year-ago period does not include the value of increments for the period given subsequently.

    TV Today’s income from operations stood at Rs 703.70 million, 8.25 per cent up from Rs 650.08 million in the corresponding quarter of the previous fiscal.

    The radio business posted an operating loss of Rs 47.71 million on an income of Rs 13.90 million. In the earlier year, operating loss stood at Rs 43.32 million on an income of Rs 8.69 million.

    TV Today shares fell 0.55 per cent to close Friday at Rs 63.40 on the BSE.