ITV

Tag: EBIDTA

  • Radaan reports lower numbers in Q3-2014

    Radaan reports lower numbers in Q3-2014

    BENGALURU: The R. Radhikaa Sharathkumar led south Indian television production house Radaan Mediaworks Limited (Radaan) reported Q3-2014 standalone revenue of Rs 7.11 crore, (10.4) per cent lower than the Rs 7.93 crore in Q3-2013 and  (3.7) per cent lower than the Rs 7.39 crore q-o-q. In 9M-2013, the company reported a drop in revenue of (5.2) per cent to Rs 23.63 crore from Rs 24.93 crore. For FY 2013, the company reported revenue of Rs 34.19 crore.

     

    The company’s EBIDTA at Rs 0.5479 crore in Q3-2014 was (18.7) per cent lower than the Rs 0.6737 crore in Q3-2013 and was (17.1) per cent lower than the Rs 0.601 crore in Q2-2014. In 9M-2014, its EBIDTA at Rs 1.8031 crore was (16) per cent less than the Rs 2.1478 crore in 9M-2013. For FY 2013, the company’s EBIDTA was Rs 3.0544 crore.

     

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

     

    Radaan reported Total expense of Rs 6.72 crore in Q3-2014, which was (9.7) per cent lower than the Rs 7.44 crore in Q3-2013 and was (2.4) per cent lower than the Rs 6.88 crore in Q2-2014. In 9M-2014, the company’s Total expense was down (12.2) per cent to Rs 20.79 crore from Rs 23.67 crore in 9M-2013. In FY 2013, the company’s Total expense was Rs 31.06 crore.

     

    PAT for Q3-2014 was down (34.5) per cent to Rs 0.1255 crore from Rs 0.1943 crore in Q3-2013 and was (37.6) per cent lower than the Rs 0.2010 crore in Q2-2014. Over the nine month period ended 31 December, 2013, Radaan’s PAT was 16.7 per cent more at Rs 0.5094 crore than the Rs 0.4365 crore in 9M-2013. For FY 2013, the company reported PAT of Rs 1.0509 crore.

     

    The company’s expense on Television serials and events (TV cost) at Rs 5.96 crore in Q3-2014 was (1.2) per cent lower than the Rs 6.04 crore in Q3-2013 and 0.7 per cent lower than the Rs 6.01 crore in Q2-2014. In 9M-2014, Radaan’s TV cost at Rs 17.29 crore was 18.2 per cent lower than the Rs 21.14 crore in 9M-2013. For FY 2013, its TV cost was Rs 27.44 crore.

     

    The company’s finance cost in Q3-2014 at Rs 0.27 crore was (8.7) per cent lower than the Rs 0.2958 crore in Q3-2013 and was 12.6 per cent less than the Rs 0.3088 crore in the immediate trailing quarter. In 9M-2014, Radaan’s finance cost was Rs 0.8453 crore, 2.4 per cent more than the Rs 0.8252 crore in 9M-2013. In FY 2013, the company’s finance cost was Rs 1.1284 crore.

     

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  • Hathway Q3 operating income up 52%

    Hathway Q3 operating income up 52%

    BENGALURU: Indian Multi Systems Operator (MSO) Hathway Cable & Datacom Limited (Hathway) reported a jump of 52.1 per cent in operating income to Rs 234.78 crore  in Q3-2014 from Rs 154.40 crore  in Q3-2013 and up 6.7 per cent from Rs 220.28 crore  in Q2-2013.

     

    The company’s operating income for 9M-2014 was 62.5 per cent higher at Rs 687.71 crore  compared with Rs 423.14 crore  in 9M-2013. For FY 2013, the company reported operating income of Rs 654.32 crore.

     

    Hathway’s y-o-y EBIDTA for Q3-2014 at Rs 39.13 crore  was up 6.3 per cent as compared to the Rs 36.82 crore  in Q3-2013, but (2.5) per cent lower than the Rs 40.15 crore  in Q2-2014. YTD, Hathway’s 9M-Q2014 EBIDTA was 79.9 per cent more at Rs 156.4 crore  as compared to the Rs 86.93 crore  in 9M-2013. For FY 2013, Hathway’s EBIDTA was Rs 178 crore.

     

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

     

    The company’s income breakup for the quarter is: Cable Income:-Rs  191.1 crore ; Placement Income-Rs  73.6 crore :  Activation Income- Rs 2.5 crore : Broadband Income-Rs 36.6 crore. 

     

    Hathway reported a net loss of Rs (36.86) crore  which was almost five times (4.97 times) the loss of Rs 7.42 crore  in Q3-2013, but 17.1 per cent less than the loss of Rs 44.45 crore  in the immediate trailing quarter. Hathway’s 9M-2014 net loss at Rs 75.99 crore  was triple the loss of Rs 25.25 crore  in 9M-2014. For FY 2013, Hathway reported a profit of Rs 3.20 crore. 

     

    Total Expense including depreciation and amortization for Q3-2014 at Rs 254.03 cores was 72.1 per cent more than the Rs 147.57 crore  in the corresponding quarter of last year and 8.9 per cent more than the Rs 233.19 crore  in Q2-2014. During 9M-2014, Hathway’s Total Expense was higher by 62.6 per cent at Rs 685.32 crore  as compared to the Rs 421.62 crore  in 9M-2013. For FY 2013, Hathway reported Total expense at Rs 608.5 crore. 

     

    Hathway paid almost double (1.95 times) towards Pay channel cost in Q3-2014 at Rs 82.73 crore  as compared to the Rs 42.96 crore  in Q3-2013 and 22.6 per cent more than the Rs 68.30 crore  in Q2-2014. In 9M-2014, Hathway paid Rs 210.47 crore  towards this head, which was 74 per cent more than the Rs 120.91 crore  in 9M-2013. For FY 2013, the company paid Rs 170.41 crore  towards this cost. 

     

    The company’s finance cost for Q3-2014 at Rs 22.41 crore  was almost double (up 1.96 times) the Rs 11.43 crore  I Q3-2013, but (5.5) per cent lower than the Rs 23.71 crore  in Q2-2014. In 9M-2014, Hathway’s finance cost more than double (up 2.11 times) to Rs.67.81 crore  as compared to the Rs.32.07 crore  in 9M-2013. For FY 2013, Hathway paid Rs.46.14 crore  towards finance cost. 

     

    By the end of December 2013, Hathway claims that it along with its JV partners had deployed 77 lakh boxes. During the quarter the company says that it has laid emphasis on collecting CRF’s from Phase II cities and on focusing for monetization of DAS areas. With this focus on collections it says that it has witnessed continued traction in the pace of subscription collections into January 2014.It says further that gross additions to its Broadband subscriber base was around 27,000 for the quarter.

     

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    Click here for financials

  • Q3-2014 : Network18 EBIDTA rises almost six-fold y-o-y

    Q3-2014 : Network18 EBIDTA rises almost six-fold y-o-y

    BENGALURU:  Network18 Media & Investments Limited (Network18) announced operating profit of Rs 61 crore in Q3-2014 which was almost six times the operating profit of Rs 10.6 crore in Q3-2013 and more than triple the operating profit of Rs 20.1 crore in the immediate trailing quarter.

     

    Note: Proforma results are assuming financial consolidation of ETV News (100 per cent) and ETV Entertainment (50 per cent). On 22 Jan 2014, post receipt of required regulatory approvals, TV18 completed the acquisition of the ETV channels – 100 per cent of ETV News, 50 per cent of ETV Entertainment and 24.5 per cent of ETV Telugu.

     

    Revenue for the quarter grew by 4.33 per cent to Rs 727.6 crore in Q3-2014 from Rs 697.4 crore in the corresponding quarter of last year and 8.63 per cent more than the Rs 669.8 crore during Q2-2014.

     

    Proforma reported revenues on a consolidated basis stood at Rs 595.9 crore for the quarter, up five per cent over prior year. Proforma Operating Profit (EBITDA) came in at Rs 94.5 crore (up 79 per cent y-o-y) led by a strong performance in ETV News says the company.

     

    Its Digital Content and Commerce business showed growth along with more than halving of operational loss, saw a growth of 25.25 per cent to Rs 149.8 crore in the current quarter from Rs 119.6 crore in Q3-2013 and by 20 per cent from the Rs 124.8 crore in the immediate trailing quarter. The operational loss reported by this segment at Rs (14.1) crore was less than half (45 per cent) the loss of Rs 31.3 crore reported in Q3-2013, but was 51.6 per cent more than the loss of Rs (9.3) crore in Q2-2014.

     

    Let us look at the other figures reported by Network18:

     

    Network18’s Television and Motion Pictures segment reported (mainly TV 18) reported revenue of Rs 525.5 crore in Q3-2013, which was 2.6 per cent more than the Rs 512.4 crore in Q3-2013 and 8.75 per cent more than the Rs 483.2 crore in Q2-2014. This segment reported an operating profit of Rs 77.5 crore in Q3-2014, up 61.12 per cent as compared to the Rs 48.1 crore in the corresponding period of last year. Q-o-q, its EBIDTA was almost double (1.96 times) the Rs 39.6 crore in Q2-2014.

     

    Revenue from its other segment, Allied Businesses saw a drop of (28) per cent to Rs 58.1 per cent in Q3-2014 from Rs 80.7 crore in Q3-2013 and a fall of (12.8) per cent from Rs 66.6 crore in Q2-2014. Loss from this segment fell 34 per cent to Rs 6 crore in Q3-2014 from Rs 9.1 crore in Q3-2013 and fell by 36.8 per cent from Rs 9.5 crore in Q2-2014.

     

    Network18’s net loss for the quarter for Q3-2014 was Rs (11.72) crore as compared to a profit of Rs 6.85 crore in the corresponding quarter of last fiscal and less than a third (29.4 per cent)  of the Rs (39.84) crore reported during the immediate trailing quarter.

     

    Total expense for Q3-2014 at Rs 687.59 crore was (3.2) per cent lower than the Rs 710.27 crore in Q3-2013 and 2.6 per cent more than the Rs 670.1 crore in Q2-2014.

     

    Network18 paid (1.8) per cent less towards programming cost in Q3-2014 at Rs 155.94 crore a compared to the Rs 158.83 crore in Q3-2013 and 8.4 per cent Rs 143.84 crore in Q2-2014.

     

    Distribution, advertising and business promotion expense for Q3-2014 at Rs 221.27 crore  was (11) per cent less than the Rs 228.53 crore in Q3-2013 and (5.4) per cent less than the Rs 233.77 crore in Q2-2014.

     

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  • Despite lower y-o-y revenue, Radaan reports higher PAT for Q2-2014

    Despite lower y-o-y revenue, Radaan reports higher PAT for Q2-2014

    BENGALURU: The R. Radhikaa Sharathkumar led south Indian television production house Radaan Mediaworks reported standalone revenue of Rs 7.39 crore and a PAT of Rs 0.20 crore for Q2-2014 as compared to revenue of Rs 8.92 crore and a PAT of Rs 0.188 crore for the corresponding quarter of last year. For Q1-2014, the company had reported revenue of Rs 7.63 crore and a PAT of Rs 0.183 crore.

     

    For FY-2013 (year ended March 31, 2013), Radaan had reported revenue of Rs 33.01 crore and a PAT of Rs 1.051 crore.

     

    Radaan’s EBIDTA however at Rs 0.661 crore was 14.2 per cent lower than the Rs 0.77 crore y-o-y, but 11.1 per cent higher than the Rs 0.595 crore for Q1-2014.

     

    Radaan’s expenditure for Q2-2014 at Rs 6.73 crore was 17 per cent lower than the Rs 8.14 crore for Q2-2013 and four per cent lower than the Rs 7.04 crore for the immediate trailing quarter Q1-2014.

     

    The company paid two per cent more towards interest at Rs.0.309 crore as compared to the Rs 0.303 crore for Q2-2013 and 15.7 per cent more than the Rs 0.267 crore for Q1-2014.

  • 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.

  • 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.

  • Balaji quintuples y-o-y PAT for Q2-2014; EBIDTA more than doubles

    Balaji quintuples y-o-y PAT for Q2-2014; EBIDTA more than doubles

    BENGALURU: Balaji Telefilms Limited (BTL), the blue-eyed entity of the Indian media and entertainment industry, reported consolidated PAT of Rs 12.33 crore for Q2-2014, more than quintuple (506 per cent) the Rs 2.43 crore reported for Q2-2013 and  more than triple (342 per cent) of the Rs 3.61 crore for Q1-2014.

     

    The improved performance was driven essentially by its motion picture operations. BTL reported EBIDTA for Q2-2014 at Rs 10.95 crore, more than double the Rs 4.63 crore for Q2-2013. BTL’s EBIDTA for Q1-2014 was negative at Rs (-5.02) crore

     

    The company’s consolidated revenue from operations for Q2-2014 at Rs 194.16 crore was more than triple (329 per cent) of the Rs 58.96 crore for Q2-2013 and more than double the Rs 84.04 crore for Q1-2014.

     

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

     

    BTL has reported revenue from three streams: Balaji Telefilms (Television content production-Balaji); Motion Pictues – Balaji Moption Pictures Limited (BMPL) and BOLT Media Limited (BOLT).

     

    Its television content production stream reported revenue of Rs 30.33 crore for Q2-2014, which was 33 per cent higher than the Rs 22.80 crore for Q1-2014. Rs 32.32 crore were spent in Q2-2014 towards cost of production, acquisition and cost of telecast fees, staff cost, depreciation and other expense resulting in loss from operations of Rs (-1.99) crore. Other Income brought in Rs 3.02 crore and hence a PAT of 0.804 crore.

     

    BMPL with revenue of Rs 164.05 crore for Q2-2014, which was more than double (2.66 times) the Rs 61.67 crore for Q1-2014. Expense totaling Rs 152.23 crore resulted in a PAT of Rs 11.81 crore.

     

    BOLT had revenue of 0.27 crore and total expense of 0.59 crore resulting in a net loss of Rs (-0.32) crore.

  • Siti Cable reports significant improvement in EBIDTA in Q2-2014

    Siti Cable reports significant improvement in EBIDTA in Q2-2014

    BENGALURU:  The painstaking rollout of the digitisation of India’s cable TV ecosystem and the depreciation of the rupee are taking their toll – both positively and negatively –  on national MSOs.  Take the case of Essel Group company Siti Cable Network Limited (Siti Cable), the erstwhile Wire and Wireless (India) Ltd (WWIL). Its latest quarter (Q2-2014) shows that the company has shown an improvement in its EBIDTA to Rs 32.98 crore which is 74 per cent higher than the previous corresponding quarter last fiscal.  It’s bottomline is however stained red in  Q2-2014 with a negative PAT of Rs 21.87 crore, almost double (173 per cent) the negative PAT of Rs (-12.65 ) crore the company had reported during the corresponding quarter (Q2-2013) last year. However, the loss is lower than the Rs (-27.07) crore for the immediate preceding quarter (Q1-2014).  

     

    Let us look at some other numbers for Siti Cable in Q2-2014

     

    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.

     

    The cable network reported total revenue of Rs 162.94 crore for Q2-2014, which was 56.7 per cent more than the Rs 103.98 crore for Q2-2013 and 12.9 per cent more than the Rs 144.29 crore in Q1-2014.

     

    Total expenses for Q2-2014 at Rs 129.96 crore were 57 per cent more than the Rs 85.06 crore for Q2-2013 and 15 per cent higher than the Rs 113.1 crore for Q1-2014.

     

    Siti Cable claims that it is the only MSO in India which shares 25 per cent carriage revenue with local cable operators. A big chunk of its expense is carriage sharing, pay channel and related costs in the latest quarter. The company spent Rs 65.46 crore in Q2-2014 towards this head, which was 21.7 per cent higher than the Rs 53.03 crore for Q2-2013 and six per cent more than the Rs 61.8 crore during the immediate preceding quarter Q1-2014.

     

     Siti Cable’s main operating expenses include cost of goods and services, employees’ cost, selling and distribution expenses and other expenditure. Its major cost item was cost of goods and services recorded as Rs 82.7 crore during the quarter (Q2-2014)  representing 51 per cent of the total revenue in comparison to Rs 62.15 crore in Q2-2013, representing 60 per cent of the total revenue.

     

    Siti Cable’s Selling and Distribution Expense for Q2-2014 at Rs 12.42 crore was more than quadruple (424 per cent) the Rs 2.93 crore for Q2-2013 and more than double (225 per cent) the Rs 5.51 crore for Q1-2014. Its administrative expense at Rs 25.44 crore for Q2-2014 was almost double (95 per cent more) than the Rs 13.03 crore for Q2-2013 and 22.7 per cent more than the Rs 20.74 crore in Q1-2014.

     

    Another major cost item was foreign exchange fluctuation due to Rupee devaluation during the Q2-2014, which has been recorded at Rs 7.69 crore, says the company; the corresponding figure for Q1-2014 was Rs 5.11 crore.

     

    Siti Cable chairman Subash Chandra said, “The industry is at an inflexion point where creating the valuable ecosystem for all stake holders be it consumer, broadcaster or last mile local cable operators will ensure sustainable growth. We see immense opportunity for digitization in India in the years ahead.”

     

    Siti Cable CEO V D Wadhwa said, “We are pleased to report a healthy performance in the second quarter of the year, our total revenue and EBITDA in the quarter grew to Rs 162.9 crore and Rs 33 crore, a growth of 57 per cent and 74 per cent respectively over last fiscal. Our growth was largely due to greater focus on subscription revenue despite low seeding of STB’s during the quarter. We shall continue to focus on business expansion and revenue maximization in coming quarter.”

     

    Siti Cable informed BSE that the board of directors of the company at its meeting held on 23 October 2013, inter-alia, has approved the appointment of Anil Kumar Malhotra as manager of the company for a period of three years.

  • Siti Cable reports significant improvement in EBIDTA in Q2-2014

    Siti Cable reports significant improvement in EBIDTA in Q2-2014

    BENGALURU:  The painstaking rollout of the digitisation of India’s cable TV ecosystem and the depreciation of the rupee are taking their toll – both positively and negatively –  on national MSOs.  Take the case of Essel Group company Siti Cable Network Limited (Siti Cable), the erstwhile Wire and Wireless (India) Ltd (WWIL). Its latest quarter (Q2-2014) shows that the company has shown an improvement in its EBIDTA to Rs 32.98 crore which is 74 per cent higher than the previous corresponding quarter last fiscal.  It’s bottomline is however stained red in  Q2-2014 with a negative PAT of Rs 21.87 crore, almost double (173 per cent) the negative PAT of Rs (-12.65 ) crore the company had reported during the corresponding quarter (Q2-2013) last year. However, the loss is lower than the Rs (-27.07) crore for the immediate preceding quarter (Q1-2014).  

     

    Let us look at some other numbers for Siti Cable in Q2-2014

     

    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.

     

    The cable network reported total revenue of Rs 162.94 crore for Q2-2014, which was 56.7 per cent more than the Rs 103.98 crore for Q2-2013 and 12.9 per cent more than the Rs 144.29 crore in Q1-2014.

     

    Total expenses for Q2-2014 at Rs 129.96 crore were 57 per cent more than the Rs 85.06 crore for Q2-2013 and 15 per cent higher than the Rs 113.1 crore for Q1-2014.

     

    Siti Cable claims that it is the only MSO in India which shares 25 per cent carriage revenue with local cable operators. A big chunk of its expense is carriage sharing, pay channel and related costs in the latest quarter. The company spent Rs 65.46 crore in Q2-2014 towards this head, which was 21.7 per cent higher than the Rs 53.03 crore for Q2-2013 and six per cent more than the Rs 61.8 crore during the immediate preceding quarter Q1-2014.

     

     Siti Cable’s main operating expenses include cost of goods and services, employees’ cost, selling and distribution expenses and other expenditure. Its major cost item was cost of goods and services recorded as Rs 82.7 crore during the quarter (Q2-2014)  representing 51 per cent of the total revenue in comparison to Rs 62.15 crore in Q2-2013, representing 60 per cent of the total revenue.

     

    Siti Cable’s Selling and Distribution Expense for Q2-2014 at Rs 12.42 crore was more than quadruple (424 per cent) the Rs 2.93 crore for Q2-2013 and more than double (225 per cent) the Rs 5.51 crore for Q1-2014. Its administrative expense at Rs 25.44 crore for Q2-2014 was almost double (95 per cent more) than the Rs 13.03 crore for Q2-2013 and 22.7 per cent more than the Rs 20.74 crore in Q1-2014.

     

    Another major cost item was foreign exchange fluctuation due to Rupee devaluation during the Q2-2014, which has been recorded at Rs 7.69 crore, says the company; the corresponding figure for Q1-2014 was Rs 5.11 crore.

     

    Siti Cable chairman Subash Chandra said, “The industry is at an inflexion point where creating the valuable ecosystem for all stake holders be it consumer, broadcaster or last mile local cable operators will ensure sustainable growth. We see immense opportunity for digitization in India in the years ahead.”

     

    Siti Cable CEO V D Wadhwa said, “We are pleased to report a healthy performance in the second quarter of the year, our total revenue and EBITDA in the quarter grew to Rs 162.9 crore and Rs 33 crore, a growth of 57 per cent and 74 per cent respectively over last fiscal. Our growth was largely due to greater focus on subscription revenue despite low seeding of STB’s during the quarter. We shall continue to focus on business expansion and revenue maximization in coming quarter.”

  • Dish TV reports improved results for Q2-2014, pares debt by Rs 235 crore

    Dish TV reports improved results for Q2-2014, pares debt by Rs 235 crore

    BENGALURU: India’s largest DTH services provider Dish TV India (Dish TV) reported second quarter fiscal 2014 total income from operations at Rs 592.6 crore which was 11 per cent more than the Rs 533.6 crore for Q2-2013 and 2.5 per cent more than the Rs 578.4 crore for Q1-2014.

    When it announced Q1-2014 results, the company had said that it was planning to pare down debt by Rs 750 crore. To that extent, Dish TV has reported along with its Q2-2014 results that it has reduced debt by Rs 235 crore during the half year ended 30 September 2014. Its financial expense for Q2-2014 at Rs 34.5 crore was slightly lower (by 2.5 per cent) than the Rs 35.4 crore in Q1-2014. Its financial expense for Q2-2013 was Rs 31.7 crore.

    Let us look at other results for Q2-2014 reported by Dish TV

    The company has reported an increased EBIDTA margin of 25 per cent for Q2-2014 at Rs 147.9 crore as compared to Q1-2014 when Dish TV had reported EBIDTA of Rs 121.7 crore (22 per cent margin). Its EBIDTA for Q2-2013 was Rs 155.7 crore (29.2 per cent margin).

    The company reported a lower net loss of Rs 16 crore for Q2-2014 as compared to the loss of Rs 30.4 crore for Q1-2014. Exceptional gain at Rs 76.4 crore in Q2-2013 resulted in a PAT of Rs 55.1 crore for Q2-2013.

    Dish TV’s primary expenses include cost of goods and services, personnel cost, administrative cost, Dish TV’s advertising expense for Q2-2014 at Rs 11.3 crore was almost a third (36.8 per cent) of the Rs 30.7 crore in Q1-2014. Advertising expense in Q2-2013 was almost double at Rs 22.2 crore for Q2-2013.

    The company’s selling and distribution expense for Q2-2014 at Rs 62.4 crore was 19.5 per cent higher than the Rs 52.2 crore in Q2-2013 and 5.5 per cent more than the Rs 59.3 crore reported for Q1-2014.

    Dish TV reported 1.64 lakh additional subscriptions during Q2-2014 as compared to the 2 lakh new subscribers the company had reported for Q1-2013. Dish TV had said that it had added 4.77 lakh new subscribers in Q2-2013 and had achieved a gross of 1.39 crore and 1 crore net subscribers at the end of Q2-2013.

    Its subscriber acquisition cost (SAC) during Q2-2014 at Rs 1,849 per subscriber was 18.7 per cent lower than the Rs 2,273 per subscriber during Q2-2013, but about 1.1 per cent more than the Rs 1,828 SAC per customer for the immediate preceding quarter (Q1-2014).

    Subscription revenue for Q2-2014 at Rs 537 crore was higher by 13.6 per cent as compared to the Rs 477 crore for Q2-2013 and higher by 1.7 per cent as compared to the Rs 528 crore for Q1-2014. Its ARPU at Rs 165 remained the same for Q2-2014 and Q1-2014.

    Dish TV managing director Jawahar Goel said, “We added 164 thousand net subscribers during the quarter and maintained our leadership share. Aided by quality additions, Dish TV’s churn remained at 0.6 per cent per month while SAC was flattish. This was despite the fact that being seasonally weak, the quarter witnessed brief periods of desperate attempts to undercut prices by select DTH platforms. Dish TV, aware of the subsequent fallout of throw away prices, chose not to jump on the bandwagon.”

    “With massive opportunity in the form of Phase III and IV of mandatory digitisation ahead, we are confident of acquiring industry leading incremental share while still keeping a tab on the subsidy per box. We continue to be conscious about self-funded growth with minimal debt on the books. In line with that, we repaid debt to the tune of Rs 235 crore in the first half and would be paying off the rupee equivalent of $ 9 crore in the second half of the current fiscal,” he added.
    “We are on track and look forward to acquiring additional transponder capacity to beef up our existing, industry leading bandwidth in the current fiscal. We intend to leverage the additional capacity to distribute localised content as well as strengthen carriage revenues. Moreover, with more than 60 per cent of the broadcasting industries subscription revenues coming from DTH alone, it is now time that the favourable terms, including carriage fees, extended to the MSO’s by the broadcasters be either revisited or offered to DTH platforms as well. This becomes all the more imperative considering that, in a digital environment, cable MSO’s are now almost there in terms of package wise billing in select 2-3 cities of Phase I & II,” said Goel further.