ITV

Tag: Ebitda

  • Hathway back on growth trajectory, reports consolidated profit of Rs 68 cr in Q3

    Hathway back on growth trajectory, reports consolidated profit of Rs 68 cr in Q3

    MUMBAI: After facing consecutive losses, Hathway Cable and Datacom has reported a consolidated profit of Rs 68.18 crore in the third quarter of the financial year 2019-20. The multi-system operator (MSO) had posted consolidated loss of Rs 57.87 crore in the corresponding quarter of the last financial year.

    The cable network improved his revenue from operations by 12.3 per cent to Rs 450.82 crore in Q3 of FY20 as compared to Rs 401.43 crore in a corresponding quarter of last year.

    Whereas, the consolidated total income for the December-ended quarter rose by 23.2 per cent to Rs 512.61 crore compared to Rs 416.07 crore in the corresponding quarter of the last financial year.

    The company reported consolidated EBITDA of Rs 128.8 crore up by 52 per cent against Rs 84.5 crore in the corresponding quarter last financial year. Meanwhile, the EBITDA margin grew by 29 per cent against 8 per cent in the same quarter of FY19.

    In the segment revenue, the broadband business grew by 2.8 per cent to Rs 143.2 crore and cable television grew by 15.4 per cent to Rs 307.62 crore in the December-ended quarter of FY20.

    The subscription revenue grew by 18 per cent to 354.8 crore against Rs 300.8 cr whereas activation revenue shrunk by 8 per cent to Rs 14.7 crore compared to Rs 16 crore and placement revenue also slumped by 6 per cent to Rs 74.7 crore versus Rs 79.1 crore in Q3 last financial year.

  • Den Networks reports profitable Q3 2020

    Den Networks reports profitable Q3 2020

    BENGALURU: Indian cable network and broadband company Den Networks Ltd (Den) reported consolidated profit after tax (PAT) of Rs 12.28 crore for the quarter ended 31 December 2019 (Q3 2020, quarter or period under review) as compared to a loss of Rs 31.21 crore for the corresponding year ago quarter (Q3 2019, y-o-y) and 28.9 per cent higher than the Rs 9.53 crore for the immediate trailing quarter (Q2 2020, q-o-q). Consolidated EBITDA for the quarter at Rs 58.28 crore was 21.2 per cent higher y-o-y than Rs 48.1 crore and was 20.1 per cent higher q-o-q than Rs 48.51 crore.

    Den reported consolidated operating revenue of Rs 318.08 crore, which was 3.1 per cent higher y-o-y, but was 4.3 per cent lower q-o-q than Rs 332.42 crore.

    Segment revenue

    The company has two segments – Cable Distribution Network (Cable) and Broadband.

    Cable revenue increased 3 per cent y-o-y in the quarter under review to Rs 300.46 crore from Rs 291.59 crore, but declined 4.6 per cent q-o-q from Rs 314.92 crore. Cable segment operating result for Q3 2020 was 6.23 crore as compared to a loss of Rs 8.95 crore for Q3 2019 and a loss of Rs 21.14 crore for the immediate trailing quarter.

    Major revenue heads for the Cable business are Subscription, Placement, Other operating income and Activation. Cable Subscription revenue in Q3 2020 increased 10 per cent y-o-y to Rs 189 crore from Rs 172 crore and increased 6 per cent q-o-q from Rs 178 crore. Placement revenue increased 8 per cent y-o-y to Rs 87 crore from Rs 81 crore but declined 1 per cent q-o-q to Rs 88 crore. Other operating income in Q3 2020 declined 52 per cent y-o-y to Rs 6 crore from Rs 13 crore and declined 68 per cent q-o-q from Rs 19 crore. Activation revenue declined 29 per cent y-o-y to Rs 18 crore from Rs 25 crore and declined 39 per cent q-o-q from Rs 29 crore.

    Broadband revenue increased 4.7 per cent y-o-y in Q3 2020 to Rs 17.62 crore from Rs 16.82 crore and increased 0.7 per cent q-o-q from Rs 17.50 crore. The segment reported a lower operating loss result for Q3 2020 at Rs 5.4 crore and a loss of Rs 6.6 crore for Q3 2019 and a loss of Rs 5.1 crore for Q2 2020.

    Let us look at the other results posted by Den for Q3 2020

    Consolidated total expenses for Q3 2020 at Rs 321.63 crore was 4.8 per cent lower y-o-y than Rs 337.84 crore and was 11.9 per cent q-o-q lower than Rs 365.27 crore. Consolidated content costs in Q3 2020 declined 4.7 per cent y-o-y to Rs 141.60 crore from Rs 148.65 crore and was 11.2 per cent lower q-o-q than Rs 159.45 crore.

    Consolidated placement fees at Rs 1.08 crore during the quarter under review was 89.2 per cent lower y-o-y than Rs 9.99 crore and was 76.2 per cent lower q-o-q than Rs 4.54 crore. Consolidated employee benefits expense for Q3 2020 at Rs 23.72 crore was almost flat (down 0.3 per cent y-o-y and down 0.2 per cent q-o-q) than Rs 23.8 crore in Q3 2019 and Rs 23.8 crore in Q2 2020.

    Consolidated finance costs during the quarter decreased 9.7 per cent y-o-y to Rs 4.38 crore from Rs 13.88 crore and declined 30.6 per cent q-o-q from Rs 6.31 crore. Consolidated other expenses in Q3 2020 increased 19.9 per cent y-o-y to Rs 93.39 crore from Rs 77.87 crore but declined 2.9 per cent q-o-q from Rs 96.15 crore.

  • SITI Networks’ operating EBITDA surges 43% Y-o-Y & 16% Q-o-Q to Rs.975 Mn

    SITI Networks’ operating EBITDA surges 43% Y-o-Y & 16% Q-o-Q to Rs.975 Mn

    MUMBAI: SITI Networks Limited (BSE: 532795, NSE: SITINET), an Essel Group Company, one of India’s largest Multi-System Operators (MSO), has released its Consolidated Audited Financial Results for Q2 FY20, ending September 30, 2019, showcasing superlative growth across all metrics.

    SITI’s Operating EBITDA surged 43% over second quarter of last fiscal, a 16% sequential quarterly growth to Rs. 975 Mn. This jump has been due to strict control over operating efficiencies. SITI’s Operating EBITDA Margin also expanded significantly by 1.3 times y-o-y to 23.4% in Q2FY20.

    Subscription revenue grew 13.2% y-o-y to Rs. 2,885 Mn in Q2FY20, aided by the strong growth in Digital Subscription ARPU, which leapt 1.7 times to Rs.127 per month. Total Revenue (excluding activation) also surged 11.3% y-o-y to Rs. 4,171 Mn.

    SITI has continued to update its systems and processes across multiple touch-points to be fully compliant to the Tariff regime. The company has continued to work with all stake-holders, be it the Regulator, the 24,000+ strong distribution network, Broadcasters, and above all its esteemed customers to deliver its services. Recently, SITI extended the benefits of Festival Offer released by Broadcasters to its customers.

    While commenting on the results, Mr. Anil Malhotra, CEO of SITI Networks Limited mentioned:

    “SITI has continued to show-case robust growth across all metrics in Q2FY20. With key focus on our operational efficiencies, we saw our Operating EBIDTA grow 43% y-o-y to INR 975 Mn and the EBIDTA margins subsequently rose 1.3x y-o-y to 23.4%. We have also shown continued growth in our Subscription Revenue with a 13.2% jump over second quarter of the last fiscal to Rs.2,885 Mn.”

  • P&G ups ad expenses as profit hit by slowing economy

    P&G ups ad expenses as profit hit by slowing economy

    BENGALURU: FMCG player Procter & Gamble Hygiene and Health Care Ltd (P&G) reported 7.6 percent year-on-year (y-o-y) growth in revenue from operations for the quarter ended 30 September 2019 (Q1 2020, quarter or period under review) as compared to the corresponding year ago quarter Q1 2019. P&G’s financial year is between 1 July and 30 June, hence the quarter ended September 30, 2019 is Q1 2020 in the case of P&G.

    During a period in which the world is witnessing economic sluggishness, the company increased its advertising and sales promo spends for the quarter under review by 25.6 percent y-o-y to Rs 104.46 crore from Rs 83.2 crore. The company reported 5 percent y-o-y decline in Q1 2020 in Net profit after tax (PAT) at Rs 136.84 crore as compared to Rs 144.11 crore. EBITDA for the quarter under review declined 5.4 percent y-o-y to Rs 173.55 crore (20.4 percent of operating review) as compared to Rs 183.53 crore (20.2 percent of operating review).

    P&G revenue from operations for Q1 2020 increased to Rs 852.14 crore from Rs 791.80 crore in Q1 2019. Total Income including other income increased 5.9 percent y-o-y in Q1 2020 to Rs 863.16 from Rs 815.36 crore.

    Let us look at the other numbers reported by P&G

    Total Expense in Q1 2020 increased 14.6 percent y-o-y to Rs 681.78 crore from Rs 594.73 crore. Expenses towards costs of raw materials and packaging materials increased 28.5 percent y-o-y to Rs 334.88 crore in Q1 2020 from Rs 260.51 crore. Purchase of traded goods declined 89.2 percent y-o-y to Rs 11.27 crore from Rs 104.27 crore.

    Employee Benefits Expense in Q1 2020 increased 17.5 percent y-o-y to Rs 42.07 crore from Rs 35.81 crore. Finance costs declined 14.3 percent to Rs 0.36 crore from Rs 0.42 crore. Other Expense increased 25.6 percent y-o-y to Rs 185.91 crore from Rs 148.04 crore.

    Company speak

    The company says in a press release that in a challenging market environment, its Feminine Care business registered strong double-digit growth in the quarter, while its Health Care business grew ahead of the market.

    P&G managing director Madhusudan Gopalan said, “In a challenging macro-economic environment our focus on raising the bar on superiority, improving

    productivity, and strengthening the organisation culture has enabled us to deliver sustained growth during the first quarter. We will continue to remain focused on these strategies in line with our aim to drive balanced sales and profit growth.”

  • Zeel reports higher op revenue, PAT for Q2 2020

    Zeel reports higher op revenue, PAT for Q2 2020

    BENGALURU: The Subhash Chandra-led Zee Entertainment Enterprises Ltd (Zeel) reported 7.6 percent and 7.4 percent y-o-y growth in total and operating revenues for the quarter ended 30 September 2019 (Q2 2020, quarter or period under review) as compared to the corresponding year ago quarter Q2 2019. Profit after tax grew 6.7 percent y-o-y, while Total comprehensive income (TCI) declined 9.5 percent y-o-y. Operating profit (EBITDA) grew 2.5 percent y-o-y in Q2 2020 as compared to Q2 2019.

    Zeel reported total revenues of Rs 2,190.13 crore and Rs 2,034.79 crore for Q2 2020 and Q1 2019 respectively. Operating revenue for the period under review was Rs 2,122.01 crore and Rs 1,975.86 crore respectively. PAT for Q2 2020 was Rs 412.09 crore, while it was Rs 386.10 crore for the corresponding year ago quarter. TCI for Q1 2020 and Q1 2019 were Rs 471.77 crore and 521.43 crore respectively. Simple operating EBITDA for the quarter under review was Rs 692.93 crore (32.65 percent margin) and for Q2 2019 it was 675.72 crore (34.20 percent margin of operating revenue.

    Growth in revenue in Q2 2020 was driven by 1.2 percent and 19 percent y-o-y growths in advertisement and subscription revenue respectively. Zeel reported ad revenue of Rs 1,224.66 crore in Q2 2020 and Rs 1,210.60 crore in Q1 2019. The company reported subscription revenue of Rs 723.50 crore in Q2 2020 and Rs 608.16 crore in Q1 2019.

    Zeel managing director and CEO Punit Goenka said through an earnings release: “I am pleased with the performance we have exhibited during the quarter. Our entertainment portfolio continues to grow from strength to strength across all formats and maintained its leading position. Our television network has emerged stronger post the implementation of tariff order on the back of a strong customer connect and brand pull of its channels. ZEE5 continued to gain traction across audience segments and markets, driven by its compelling content library and expanding of partnerships across the digital eco-system. This strong operating performance allowed us to deliver industry leading growth in both advertising and subscription despite the tough macro-economic environment. Domestic subscription growth of 27 percent has reaffirmed the value proposition our television network has built over the years. The impact of tariff order has now largely settled down and has brought increased transparency along with improved monetisation. Our domestic advertising revenue growth, though significantly lower than historical trend, is higher than the industry growth. We have witnessed an improvement in ad spends through the quarter and we believe that the onset of festive season along with measures taken by the government will help revive the consumption growth."

    Let us look at the other numbers reported by Zeel

    Total Expenditure for Q2 2020 grew 9.2 percent y-o-y to Rs 1,514.13 crore from Rs 1,386.45 crore in Q2 2019. Operating costs in Q2 2020 grew 23.4 percent y-o-y to Rs 896.25 crore from Rs 726.34 crore. Other expenses during the quarter under review declined 18.6 percent y-o-y to Rs 195.31 crore from Rs 240.03 crore. Employee benefits expense in Q2 2020 grew 25.8 percent y-o-y to Rs  212.26 crore from Rs 168.72 crore. Ad and publicity expensed in Q2 2020 declined 24.1 percent y-o-y to Rs 125.26 crore from Rs 165.05 crore finance costs in Q2 2020 more than tripled (3.3 times) y-o-y in Q2 2020 to Rs 17.97 crore from Rs 5.45 crore.

  • India Ratings and Research says R-Jio’s tariff hike to support industry ARPU

    India Ratings and Research says R-Jio’s tariff hike to support industry ARPU

    MUMBAI: India Ratings and Research (Fitch Group) believes Reliance Jio Infocomm Ltd’s (R-Jio; ‘IND AAA’/Stable) decision to start charging Rs 0.06/minute through top-up vouchers on outgoing voice calls to other networks would improve its average revenue per user (ARPU) by about Rs 9 and EBITDA by 15 per cent to 18 per cent in FY20, assuming that usage/calling pattern remains the same and the zero interconnect usage charge (IUC) regime is postponed beyond its scheduled date of 1 January 2020. However, the levy of additional charges by R-Jio will discourage users to call other operators from R-Jio, possibly leading to lower voice traffic on R-Jio network and hence could constrain the telecom giant’s actual EBITDA benefit at 8 per cent-10 per cent.

    Also, Vodafone Idea Ltd (Voda-Idea; ‘IND A+’/Negative) and Bharti Airtel Ltd (Airtel) may see lower incoming calls on their network, which may impact their net interconnect user charge (IUC) income, which stood at 3 per cent and 10 per cent of total revenue for Airtel and Voda-Idea, respectively. Furthermore, Voda-Idea and Airtel may continue to lose their subscribers to R-Jio as the pricing arbitrage (i.e. outgoing voice calls to other network being free on R-Jio and chargeable for other operators) is removed. On the flipside, R-Jio’s tariff-hike may give Voda-Idea and Airtel an opportunity to increase their tariffs and repair their balance sheets. However, Ind-Ra believes the benefits for Voda-Idea and Airtel would be short-term and the marginal recovery of around 10 per cent in ARPU may not help in addressing the unsustainable debt levels, and improve credit metrics. Ind-Ra has maintained a negative outlook on the Indian telecom sector due to intense competition, elevated debt levels and continued reliance on capital infusion for debt servicing and capex.

    Network Imbalance Higher for R-Jio: In Q1FY20, outgoing calls as a proportion of total offnet minutes of usage (MoU) for R-Jio, Voda-Idea and Airtel stood at 64 per cent, 41 per cent and 45 per cent, respectively. Also, of the total offnet voice traffic, net incoming MoU as a proportion of total offnet MoU stands at negative 29 per cent for R-Jio whereas the same is 9 per cent and 19 per cent for Airtel and Voda-Idea respectively, implying that network voice traffic imbalance is significantly higher for R-Jio compared with peers. Hence, R-Jio remains a net-payer of IUC expenses, whereas Voda-Idea and Airtel are net-receivers of IUC receipts. The move by R-Jio to start recovering IUC from customers would address R-Jio’s concerns that the zero IUC regime may get postponed by Telecom Regulatory Authority of India beyond its scheduled date of 1 January 2020.

    Eventual Benefit Contingent on Many Variables: Estimating the impact of R-Jio’s levy of IUC charges on ARPU and EBITDA is tricky given that it may lead to a change in usage and calling pattern. The impact on Airtel and Voda-Idea’s financials is yet to be seen given that they have not yet announced their strategy in response to R-Jio’s move.

    Broader Impact on Industry Tariffs: R-Jio’s tariffs have been 25 per cent-30 per cent lower than those of Voda-Idea and Airtel since the last two years, which has kept the competition intensity high. However, after falling steadily over the last 2.5 years, data tariffs (expressed in terms of GB per user per month) rose 11 per cent-17 per cent during October 2018-February 2019, and have been stable since then. Ind-Ra believes the industry-wide debt levels are at unsustainable levels and a marginal recovery of 10 per cent in ARPU may not help in improving the credit metrics. Telcos will continue to rely on external funding to support their debt servicing and elevated capex requirements. Any investment in spectrum acquisition or 5G technology may derail this fragile recovery. 

    Estimation of Impact on IUC Changes

     

    Bharti Airtel

    Voda-Idea

    R-Jio

    MoU (million minutes, total offnet and onnet)

    737,108

    676,259

    785,970

    Outgoing calls ( per cent of offnet MoU)

    45

    41

    64

    Incoming calls ( per cent of offnet MoU)

    55

    59

    36

    Net incoming MoU ( per cent of offnet MoU)

    9

    19

    -29

    Access charges – Net reporteda (INR million)

    2,500

    3,800

    -8,510

    Offnet MoU as  per cent of total MoU

    60.1

    50.4

    63.3

    EBITDA (1QFY20, INR million)b

    84,926

    36,500

    46,700

    IUC charges (as  per cent of EBITDA)

    3

    10

    -18

    a Access Charge data for Airtel taken from Bloomberg.
    b EBITDA for Voda-Idea not adjusted for AS-116 benefit of INR22.2 billion.
    Source: Ind-Ra, Company and Bloomberg
  • Eros International reports lower numbers for Q1 2019

    Eros International reports lower numbers for Q1 2019

    BENGALURU: Indian film and media company Eros International Media Ltd (Eros) reported a 15.9 percent decline in consolidated net sales/income from operations (Op Rev) for the quarter ended 30 June 2019 (Q1 2020, quarter or period under review) as compared to the corresponding year ago quarter Q1 2019 (y-o-y). Eros reported consolidated Op Rev of Rs 183.52 crore and Rs 217.93 for Q1 2020 and Q1 2019 respectively. The company’s consolidated simple operating EBITDA fell 64.7 percent to Rs 32.91 crore (17.9 percent of Op Rev) in Q1 2020 from Rs 93.33 crore (42.8 percent of Op Rev) in Q1 2019. Consolidated Profit after tax (PAT) during the quarter under review declined 54.9 percent y-o-y to Rs 27.05 crore from Rs 59.95 crore. Total comprehensive income or TCI declined 77.9 percent y-o-y to Rs 22.3 crore from Rs 100.91 crore in Q1 2019.

    Eros consolidated Total Expenditure in Q1 2020 increased 16.8 percent y-o-y to Rs 170.99 crore from Rs 146.45 crore. Consolidated Films rights costs including amortisation costs declined 25.8 percent y-o-y to Rs 66.93 crore in Q1 2020 from Rs 90.15 crore. Consolidated Employee Benefits Expense in Q1 2020 declined 19.8 percent y-o-y to Rs 10.86 crore from Rs 13.54 crore. Consolidated net finance costs declined 9.3 percent y-o-y to Rs 17.68 crore from Rs 19.50 crore. Consolidated Other expenses for the period under review more than tripled (increased 264.5 percent) y-o-y to Rs 69.81 crore from Rs 19.15 crore in the corresponding year ago quarter.

    It must be noted that this report is purely a numbers report based only on the company’s consolidated financial results.

    The last traded price of Eros International Media Ltd on the NSE was Rs 9.50 per equity share of face value of Rs 10 each on 12 August 2019. The 52 week high/low prices were Rs 133.50/Rs 9.50.

  • TV Today revenue and profits up in Q1 2019

    TV Today revenue and profits up in Q1 2019

    BENGALURU: TV Today Network Ltd (TVTN) reported 30.5 percent and 27.3 percent y-o-y growth in consolidated revenue from operations (Op Rev) and consolidated profit after tax (PAT) respectively for the quarter ended 30 June 2019 (Q1 2020, quarter or period under review) as compared to the corresponding year-ago quarter Q1 2019). Consolidated simple EBITDA for the quarter under review increased 19.3 percent y-o-y as compared to Q1 2019.

    TVTN reported consolidated Op Rev of Rs 246.13 crore and Rs 188.58 crore for Q1 2020 and Q1 2019 respectively. Consolidated PAT for Q1 2020 was Rs 51.03 crore as compared to Rs 40.07 crore in Q1 2019. Consolidated EBITDA for Q1 2020 was Rs 74.45 crore (30.2 percent of Op Rev) as compared to Rs 62.40 crore (33.1 percent of Op Rev) in Q1 2019.

    Segment Revenue

    TVTN has four segments – Television Broadcasting (TV); Radio Broadcasting (Radio); Others; and Newspaper Publishing. TV and Others segments reported growth in revenue and operating results, while Radio and Newspaper Publishing segments had decline in revenue and the company reported operating losses from these segments.

    TV segment operating revenue grew 30.8 percent y-o-y to Rs 207.74 crore in Q1 2020 from Rs 158.86 crore. The segment’s operating result grew 12.4 percent y-o-y in the period under review to Rs 64.24 crore from Rs 57.14 crore.

    Radio segment operating revenue declined 34.6 percent y-o-y in Q1 2020 to Rs 3.78 crore from Rs 5.78 crore. Radio operating result was a higher loss of Rs 3.73 crore in Q1 2020 as compared to a loss of Rs 1.01 crore in Q1 2019.

    Others segment had operating revenue of Rs 28.89 crore in Q1 2020 which was 64.8 percent higher y-o-y than Rs 17.53 crore. Others segment operating result was Rs 7.14 crore, which was more than 5 times (grew by 451.3 percent) y-o-y at Rs 7.14 crore as compared to Rs 1.29 crore.

    Newspaper Publishing business operating revenue declined 11.9 percent y-o-y to Rs 5.74 crore from Rs 6.52 crore. The company reported a lower operating loss (result) of Rs 0.04 crore as compared to a loss of Rs 1.15 crore in Q1 2019.

    Let us look at the other numbers reported by the company for Q1 2020

    TVTN reported consolidated total expenditure of Rs 182.11 crore for Q1 2020 which was 35.6 percent higher y-o-y than Rs 134.26 crore in Q1 2019. Consolidated cost of materials consumed during the period under review was 11.9 percent lower y-o-y at Rs 0.68 crore as compared to Rs 0.77 crore in Q1 2019. Consolidated Production cost in Q1 2020 increased 49.8 percent to Rs 28.65 crore from Rs 19.12 crore. Consolidated Employee Benefit Expenses in Q1 2020 increased 20.6 percent y-o-y to Rs 66.44 crore from Rs 55.08 crore. Consolidated Finance costs increased by 236.2 percent y-o-y in Q1 2020 to Rs 0.82 crore from Rs 0.24 crore. Consolidated Other expenses increased 48.3 percent y-o-y during the quarter under review to Rs 75.93 crore from Rs 51.21 crore.

  • Shemaroo revenue up in first quarter

    Shemaroo revenue up in first quarter

    BENGALURU: Indian content creator, aggregator and distributor, specifically in the media and entertainment industry, Shemaroo  Entertainment Ltd (Shemaroo) reported 15.9 percent year-on-year (y-o-y) growth in revenue from operations at Rs 143.03 crore for the quarter ended 30 June 2019 (Q1 2010, quarter or period under review) from Rs 123.36 crore for the corresponding year ago quarter. Total revenue for Q1 2020 increased 16.4 percent y-o-y to Rs 143.87 crore from Rs 123.58 crore.

    Profit after tax or PAT for the period under review declined 16.2 percent y-o-y to Rs 16.38 crore from Rs 19.55 crore in Q1 2019. Total comprehensive income for Q1 2020 reduced 15 percent y-o-y to Rs 16.15 crore from Rs 19.01 crore in Q1 2029. Operating EBITDA for Q1 2020 declined 17.9 percent y-o-y to Rs 31.92 crore (22.3 percent of operating revenue) from Rs 38.90 crore (31.5 percent of operating revenue) in the corresponding year ago quarter.

    Total expenditure for Q1 2020 increased 28.6 percent y-o-y to Rs 118.32 crore from Rs 91.99 crore. Cost of materials consumed during the quarter under review increased 28.4 percent y-o-y to Rs 87.91 crore from Rs 68.45 crore. Employee benefits expense in Q1 2020 increased 41.9 percent y-o-y to Rs 15.75 crore from Rs 11.10 crore. Finance costs in Q1 2020 declined 5.9 percent y-o-y to Rs 5.77 crore from Rs 6.13 crore. Other expenses in Q1 2020 increased 51.6 percent y-o-y to Rs 7.46 crore from Rs 4.92 crore.

  • Ad revenue growth drives Zee Media numbers up in Q1 FY20

    Ad revenue growth drives Zee Media numbers up in Q1 FY20

    BENGALURU: The Essel group’s Zee Media Corporation Ltd (ZMCL) reported 29.7 per cent growth in consolidated operating revenue for the quarter ended 30 June 2019 (Q1 2020, quarter or period under review) at Rs 200.66 crore as compared to Rs 154.69 crore for the corresponding year ago quarter Q1 2019 (y-o-y). Growth in numbers was led by 35.7 per cent y-o-y growth in advertising revenue in Q1 2020 at Rs 185.90 crore as compared to Rs 136.97 crore in Q1 2019. Subscription revenue for Q1 2020 increased 1.6 per cent y-o-y to Rs 11.28 crore from Rs 11.10 crore. Other sales and services declined 47.5 per cent y-o-y to Rs 3.47 crore during the period under review from Rs 6.62 crore.

    However, the company’s consolidated profit after tax (PAT) for Q1 2020 declined 52.9 per cent to Rs 26.07 crore from Rs 55.38 crore in Q1 2019. It must be noted that ZMCL had sold off its entire equity stake in Ez-Mall Online to a related party effective 30 June 2018 and the company has arranged for impairment as per Ind-AS-109 for its investments in Diligent Media Corporation Ltd. For further details please refer to the company’s financial statements. Consolidated operating EBITDA for the quarter under review increased 83.6 per cent y-o-y in Q1 2020 to Rs 65.88 crore from Rs 35.88 crore.

    Let us look at the other numbers reported by the company

    Consolidated total expenditure for Q1 2020 increased 13.4 per cent y-o-y to Rs 134.78 crore from Rs 130.45 crore. Operating costs increased 41.7 per cent y-o-y in Q 2020 to Rs 36.12 crore from Rs 25.49 crore. Employee Benefits Expense in Q1 2020 increased 21.8 per cent y-o-y to Rs 42.40 crore from Rs 34.81 crore. Marketing, distribution and business promotion expenses in Q1 2020 increased 7 per cent y-o-y in Q1 2020 to Rs 22.23 crore from Rs 20.77 crore. Other expenses during the quarter under review declined 9.8 per cent y-o-y to Rs 34.03 crore from Rs 37.74 crore.