ITV

Tag: financial results

  • Decoding Next Mediaworks Q3 and nine month results

    Decoding Next Mediaworks Q3 and nine month results

    MUMBAI: Next Mediaworks Limited is a holding company with a colourful portfolio in multimedia—think of it as the Swiss Army knife of the entertainment world. Helmed by HT Media and with deep roots in Indian broadcasting, the company has evolved into a jack-of-all-trades, dabbling in everything from FM radio to online news.

    Let’s start with its bread and butter: FM radio broadcasting. Through its Radio One FM stations, Next Mediaworks has become a household name in seven cities, including the media powerhouses of Mumbai, Delhi, and Chennai. Feeling nostalgic for some old-school TV magic? The company also markets television programmes, films, and software—the behind-the-scenes wizardry that keeps your screens alive.

    And it doesn’t stop there. Acting as an advertising agent, providing online music and news, and even diving into internet commerce, Next Mediaworks spreads its wings wide. But how does one juggle all these pies while staying profitable? That’s the million-dollar question as we dig deeper into its financials.

    When you’re in the business of radio, every quarter brings a new tune. For Next Mediaworks Limited, this time, the notes were both harmonious and dissonant. The financial results for the quarter and nine months ending 31 December 2024, paint a picture of a company striving to balance its operational challenges with strategic resilience.

    Standalone Results

    The standalone results for Next Mediaworks in Q3 present a smaller slice of the financial pie—or should we say crumbs? Total income for the quarter was Rs 43 lakh, bolstered entirely by other income, as revenue from operations took a vacation. For the nine months, the total income barely inched up to Rs 44 lakh. The real story, however, is the expenses—and it’s a thriller.

    Employee benefit expenses for the nine months amounted to Rs 24 lakh—impressive if you’re running a lemonade stand, but less so for a media company. Meanwhile, finance costs gobbled up Rs 323 lakh, a jump from Rs 271 lakh last year, making one wonder: Are they financing or fine dining? Other expenses, at Rs 56 lakh, added more salt to the wound. This cocktail of costs stirred up a quarterly standalone loss of Rs 97 lakh and a nine-month loss of Rs 359 lakh.

    EBITDA, the trusty metric of financial health, barely registered a pulse, with Rs 15 lakh in Q3 and a cumulative Rs (36 lakh) for the nine months. Exceptional items stayed out of the picture, leaving the losses to hog the spotlight. The loss per share for Q3 was Rs 0.15, and for the nine months, Rs 0.54.

    Can this standalone operation hit the reset button and find its groove, or is it destined to stay on mute?

    Consolidated Results

    The consolidated revenue for Q3 stood at Rs 1,124 lakh, reflecting a decline from the Rs 1,172 lakh posted in the same quarter last year. However, the nine-month revenue was nearly flat at Rs 3,090 lakh, compared to Rs 3,077 lakh in 2023. Despite these figures, the company faces mounting challenges, as total expenses for the nine-month period surged to Rs 5,233 lakh, up from Rs 5,065 lakh.

    Now, let’s spice things up with the consolidated results—the section where the numbers get all the attention. EBITDA, the shining knight in an otherwise troubled kingdom, stood at Rs 143 lakh for Q3 and Rs 680.76 lakh for the nine months. However, profitability has been elusive, with the company posting a consolidated loss of Rs 632 lakh in Q3 and a whopping Rs 2,143 lakh over the nine months. Talk about a steep hill to climb!

    Let’s not sugarcoat it: the losses weren’t small. Employee expenses totalled Rs 597 lakh for the nine months, and radio license fees alone devoured Rs 1,048 lakh. Meanwhile, finance costs ballooned to Rs 1,739 lakh, up from Rs 1,539 lakh in 2023.

    As Next Mediaworks faces these towering costs, one has to ask: can they trim the fat without losing muscle?

    In a world where Spotify dominates playlists and podcasts grab ears globally, where does traditional radio fit? The consolidated losses may seem like a dirge, but Next Mediaworks is no stranger to finding harmony in chaos. Can it pull off a comeback and compose a more profitable tune?

    Next Mediaworks, through its flagship subsidiary Next Radio, is a prominent player in the radio broadcasting space. Yet, operating in an era dominated by streaming platforms has amplified the pressure to innovate. Radio license fees for Q3 were Rs 351 lakh, while employee benefits expenses climbed to Rs 597 lakh for the nine months, compared to Rs 634 lakh the previous year. Finance costs were another thorn, growing to Rs 1,739 lakh for the nine months, compared to Rs 1,539 lakh in 2023.

    Despite these hurdles, the company maintains a “going concern” assumption, bolstered by support from its holding company, HT Media. How long will this financial backing shield the group from market headwinds?

    While the overall narrative appears grim, there are glimmers of hope. The company has avoided external borrowings and maintains a favourable current assets-to-liabilities ratio. Its strategic focus on maintaining operational liquidity could provide the breathing room needed to recalibrate its business model.

    Moreover, the appointment of Sameer Singh as a non-executive non-independent director introduces a seasoned hand with global experience. His prior leadership roles at GroupM, Google, and ByteDance could inject a fresh perspective into the company’s strategic planning.

    The radio industry may no longer be the dominant force in entertainment, but its relevance endures. The challenge for Next Mediaworks is to harmonise traditional broadcasting with the demands of a tech-savvy audience. Will the company invest in digital transformation, or will it double down on its current model?

    As the financial results highlight, the road ahead is far from smooth. Yet, with strategic backing and seasoned leadership, Next Mediaworks has the potential to rewrite its tune. Investors and stakeholders will be keen to see whether the company’s next quarter hums a more uplifting melody.

    Key financial highlights

    . Consolidated Revenue: Rs 1,124 lakh for Q3; Rs 3,090 lakh for nine months.

    . EBITDA: Rs 143 lakh for Q3; Rs 680.76 lakh for nine months.

    . Consolidated Loss: Rs 632 lakh for Q3; Rs 2,143 lakh for nine months.

    . Standalone Loss: Rs 97 lakh for Q3; Rs 359 lakh for nine months.

    .  Finance Costs: Rs 1,739 lakh for nine months, up from Rs 1,539 lakh in 2023.

  • Raj TV’s financial woes deepen despite 53 per cent revenue surge

    Raj TV’s financial woes deepen despite 53 per cent revenue surge

    Mumbai: Raj Television Network Limited, a longstanding player in the regional media landscape, reported its unaudited financial results for Q2 FY2025. The results reveal a downward trend in profitability and rising operational expenses, challenging the company’s financial stability. Despite a 53 per cent revenue boost to Rs 359.3 million from Rs 234.5 million in the prior year, this increase did not translate into profitability. The high costs, notably a 77 per cent surge in cost of revenue to Rs 293 million, outpaced revenue growth, resulting in a net loss of Rs 168 million for the quarter, a stark contrast to a modest profit of Rs 217,000 in Q2 FY2024.

    Operating expenses surged by 35 per cent year-over-year, driven by escalating costs in core functions. Employee benefits decreased marginally by 6 per cent, reflecting cost-control efforts, yet operational expenses remained high. Finance costs increased by over 60 per cent, reaching Rs 10.3 million, which, combined with increased borrowing, amplified the financial strain.

    Balance sheet liabilities reflect rising pressures; current liabilities rose by nearly 39 per cent, with trade payables ballooning from Rs 60.5 million to Rs 145.4 million, signalling cash flow challenges. Current assets, meanwhile, were relatively static, highlighting potential liquidity constraints. Cash and cash equivalents diminished significantly to  Rs 3.3 million, a steep decline from  Rs 26.7 million at the beginning of the fiscal year.

    Raj Television’s pivot to higher revenue has yet to offset its expenditure growth, underscoring the need for strategic intervention to address profitability and cash flow. Going forward, Raj TV faces a critical need for fiscal recalibration to stabilise and reduce rising debt.

    Financial highlights for Raj Television Network’s Q2 FY2025 performance:

    1. Revenue Growth: Revenue rose by 53 per cent to Rs 359.3 million, up from Rs 234.5 million in Q2 FY2024.

    2.   Net Profit : The company reported a net loss of Rs 168 million, compared to a modest profit of Rs 217,000 in the same quarter last year.

    3.  Operational Expenses : Total expenses surged by 35 per cent year-over-year

    4. Cost of Revenue : Cost of revenue rose sharply by 77 per cent, reaching Rs 293 million.

    5. Employee Benefits : Employee costs decreased by 6 per cent year-over-year.

    6. Finance Costs: Finance expenses increased over 60 per cent, totaling Rs 10.3 million, exacerbated by increased borrowing.

    7. Trade Payables: Current liabilities, including trade payables, jumped 39 per cent, rising from Rs 60.5 million to Rs 145.4 million.

    8. Cash Flow: Cash and cash equivalents dropped significantly to Rs 3.3 million, down from Rs 26.7 million at the fiscal year’s start.

  • RCOM reports mixed Q2 amid insolvency struggles

    RCOM reports mixed Q2 amid insolvency struggles

    Mumbai: In the latest financial disclosure, Reliance Communications Limited (RCOM) reported its unaudited standalone and consolidated financial results for the quarter and half-year ending 30 September 2024. The announcement, dated 9 November 2024, was made under the oversight of the resolution professional, Anish Niranjan Nanavaty, as the company remains under corporate insolvency resolution since 28 June 2019.

    For the quarter ending 30 September 2024, RCOM’s consolidated total income stood at Rs 97 crore, reflecting a slight decrease from Rs 100 crore in the previous quarter. The company reported an operating loss of Rs 32 crore, widening from a loss of Rs 19 crore in the preceding quarter. The net loss for the quarter was Rs 1,060 crore, an improvement from the Rs 1,965 crore loss reported in the previous quarter.  

    The operating margin for the quarter was -32.99 per cent, compared to -19 per cent in the previous quarter, indicating increased operational challenges. The depreciation and amortisation expenses rose to Rs 34 crore from Rs 32 crore, suggesting ongoing capital expenditure and asset utilisation.

    Since the initiation of the insolvency process in June 2019, RCOM has faced multiple operational and structural obstacles, with the National Company Law Tribunal overseeing its recovery and management efforts. The impact of these challenges is evident in the subdued financial performance across segments. Cost-cutting initiatives, though visible, remain inadequate to counterbalance the income reductions from discontinued services and stagnant growth.

    As RCOM pivots its strategy to maximise value during insolvency proceedings, its existing customer base and asset utilisation are pivotal to short-term stabilisation. Nonetheless, substantial debt obligations and restricted access to capital raise questions about RCOM’s capability to weather the long-term implications of market pressures without a viable merger or acquisition plan.

    Key Financial Highlights

    •    Total Income: Rs 97 crore (Q2 FY2024-25)

    •    Operating Loss: Rs 32 crore

    •    Net Loss: Rs 1,060 crore

    •    Operating Margin: -32.99 per cent

    •    Depreciation/Amortisation: Rs 34 crore

    These figures reflect the company’s ongoing efforts to manage its financial health amid challenging circumstances.

    The future trajectory of RCOM hinges largely on its restructuring efforts and external support from potential investors. While the telecom industry’s competitive intensity shows no signs of abating, any potential buyer would inherit both the legacy issues and opportunities presented by RCOM’s extensive infrastructure. Stakeholders continue to monitor how RCOM will leverage or offload these assets within the constraints of its insolvency resolution process.

     

  • India Today Group sees revenue fall amid challenging market conditions

    India Today Group sees revenue fall amid challenging market conditions

    Mumbai: When a titan stumbles, the tremors are felt far beyond its own walls. Investor confidence wavers, markets shift uneasily, and a once-unshakeable reputation finds itself on thin ice. Such is the case for the India Today Group, which, in a jarring Q2 FY25 performance, posted steep declines in both revenue and profits. This downturn isn’t just a dip in the numbers; it’s a stark reminder that even the most formidable institutions can struggle against economic forces and the relentless pressure of an ever-changing media landscape. Despite efforts to trim costs and adapt, India Today’s latest results signal not progress, but troubling stagnation.

    For the quarter ending September 2024, the Group’s revenue plummeted to Rs 206.77 crores from Rs 311.79 crores in the preceding quarter, marking a sharp 33.7 per cent drop. This contraction becomes more severe when juxtaposed with the Rs 213.86 crores reported in the same quarter last year. Despite moderate operational adjustments, production costs grew by over 3 per cent, reaching Rs 24.35 crores compared to Rs 23.62 crores a year ago. Employee expenses also remained stubbornly high at Rs 81.41 crores, reflecting a challenging balance between workforce retention and profitability.

    Net profit for the quarter dwindled to Rs 8.35 crores, representing a staggering decline from Rs 51.43 crores reported in Q1 FY25. This downward spiral in profitability is exacerbated by a combination of rising costs and a limited revenue base, suggesting that the current strategic approach may lack the flexibility needed to weather industry-wide upheaval. Even more concerning is the dwindling cash flow, with net cash inflows from operations at a mere Rs 88.78 crores, down significantly from previous levels, limiting future investments and expansion.

    Television and media operations, traditionally a strong revenue stream, reported Rs 202.85 crores, down from Rs 309.22 crores in the previous quarter, reinforcing an overall industry-wide struggle to maintain viewership and advertiser interest. Radio broadcasting, a secondary but growing segment, failed to offset this decline, posting a minor increase to Rs 3.92 crores in Q2 FY25, underscoring limited diversification.

    While India Today Group continues to hold a respected position within the media industry, these financial indicators highlight urgent structural and strategic reevaluation. Moving forward, the Group must navigate the intricate dance of cost control and technological investments, all while addressing audience shifts in an age of digital-first content.

  • Paramount Communications soars with 46.1 per cent growth YoY in Q2 FY25

    Paramount Communications soars with 46.1 per cent growth YoY in Q2 FY25

    Mumbai: In a world that prides itself on wireless connectivity, the humble cable remains indispensable, quietly powering our digital lives and delivering seamless connections. As another quarter dawns, Paramount Communications Ltd., a stalwart in India’s cables and pipes industry, emerges with a balance sheet that shines just as brightly as its sturdy wires. The company’s Q2 FY25 financial results reveal a story of resilience and growth, with gains in revenue and profitability that underscore its strategic prowess and market strength. Against the backdrop of growing demand in the telecommunications, energy, and infrastructure sectors, Paramount’s latest performance showcases the results of steady expansion and commitment to value creation.

    For the quarter ending 30 September 2024, Paramount posted a revenue from operations of Rs 35,210.10 lakh, a notable 28.3 per cent increase from Rs 27,452.30 lakh in Q2 FY24. In the first half of FY25, revenues totaled Rs 67,694.55 lakh, representing a remarkable 46.1 per cent growth year-over-year (YoY). This robust expansion reflects heightened demand for Paramount’s products, particularly in the expanding cable sector, which contributed significantly to the earnings momentum. Cables remain Paramount’s largest revenue driver, contributing Rs 66,541.68 lakh over the half-year period, up from Rs 46,082.64 lakh during the same timeframe last year.

    The company’s pipes segment, though smaller in scale, also exhibited a compelling growth rate. Revenue here reached Rs 1,260.98 lakh in H1 FY25, a nearly six-fold increase over the Rs 215.31 lakh reported in H1 FY24. This sector growth is driven by Paramount’s increased penetration into infrastructure and irrigation projects, which are anticipated to remain robust revenue contributors for the foreseeable future.

    Paramount’s profitability surged alongside its revenue growth. In Q2 FY25, the company’s profit before tax (PBT) reached Rs 2,911.32 lakh, up from Rs 1,950.12 lakh in Q2 FY24, marking a 49.3 per cent increase. Paramount’s net profit for Q2 FY25 also rose by an impressive 40.8 per cent, closing at Rs 2,033.11 lakh compared to Rs 1,948.92 lakh in the previous fiscal year.

    Additionally, Paramount’s margin enhancements reflect the company’s ongoing efficiency measures and prudent cost management. The cost of materials consumed in Q2 FY25, though rising due to increased production volumes, remained well-managed, totaling Rs 28,845.71 lakh. Meanwhile, operating expenses such as finance costs were reduced to Rs 170.20 lakh, showcasing an ability to maintain financial discipline amidst scaling operations.

    A closer look at Paramount’s balance sheet shows a robust position with total assets reaching Rs 83,041.21 lakh as of 30 September 2024, up from Rs 68,540.52 lakh in the previous year—a 21.2 per cent increase. Key non-current assets like property and equipment saw a strong increase, with capital investment in plant and equipment growing to Rs 16,268.12 lakh, reflecting Paramount’s commitment to expanding its production capabilities.

    Equity shares also increased from Rs 4,773.70 lakh in September 2023 to Rs 6,098.70 lakh in September 2024, largely attributed to strategic equity issuance and the conversion of equity share warrants. Notably, the company’s equity base expanded by 54.5 per cent over the past year, strengthening Paramount’s long-term financial foundation. Total borrowings, on the other hand, were reduced significantly, reflecting a strategic focus on improving the capital structure.

    Paramount’s cash flow statement underscores the company’s operational resilience. Cash from operating activities (CFO) reached Rs 5,687.33 lakh in H1 FY25, a substantial turnaround from the previous year’s cash outflow of Rs 3,491.53 lakh. The improvement is mainly due to better working capital management, with receivables turnover reducing from prior levels.

    Further investments in the business, including a purchase of property and equipment totaling Rs 2,688.19 lakh, highlight Paramount’s commitment to enhancing manufacturing capabilities. Despite these investments, Paramount’s financial strategy enabled it to maintain positive cash flow, signalling preparedness for future growth.

    The results affirm Paramount Communications Ltd.’s strategic growth trajectory, supported by a balanced approach to expansion and operational efficiency. As the cables and pipes markets continue to grow, the company appears well-positioned to leverage its improved capacity and sectoral demand. Paramount’s focus on capturing rising demand across telecommunications, energy, and infrastructure sectors has paid off, with impressive gains in both top-line and bottom-line figures. Looking forward, the company’s expanded production capabilities and reduced debt load place it favourably for sustained growth in these booming sectors.

  • Mahindra Logistics’ Q2 FY25 shows revenue growth, but profit declines

    Mahindra Logistics’ Q2 FY25 shows revenue growth, but profit declines

    Mumbai: In the crowded lanes of India’s logistics market, even giants can stumble. Mahindra Logistics, a cornerstone of the Mahindra Group, seems to be navigating through a challenging terrain. Despite the conglomerate’s success across other sectors, the logistics arm is struggling to turn growth into profit. The unaudited consolidated results for Q2 FY25, ending 30 September 2024, reveal a dynamic yet troubled picture—while revenues surged, profit margins hit a roadblock, hinting at both promising opportunities and deep-rooted operational hurdles.

    The company reported a consolidated revenue from operations of Rs 1,521.10 crores for Q2 FY25, marking an 11 per cent increase from Rs 1,364.76 crores during the same quarter last year. This growth was primarily driven by strong performance in the supply chain management segment, which saw increased demand across industries. However, the company’s profit trajectory didn’t mirror this upward trend.

    Profitability took a significant hit, with a net loss of Rs 10.75 crores compared to a loss of Rs 15.93 crores in Q2 FY24. Despite efforts to improve operational efficiency, rising expenses eroded the gains from higher revenue. Operating costs surged by 12 per cent, reaching Rs 1,306.85 crores, driven by increased freight rates and employee expenses.

    Mahindra Logistics’ managing director & CEO, Rampraveen Swaminathan, acknowledged the challenges, stating, “While we are encouraged by the revenue growth, the increase in operating costs continues to be a headwind, impacting overall profitability.” The company also saw higher finance costs due to rising borrowing expenses, which climbed to Rs 19.12 crores, up from Rs 16.53 crores in the previous year.

    Further complicating the financial landscape, depreciation and amortisation expenses rose by 4 per cent, amounting to Rs 53.96 crores. Although Mahindra Logistics expanded its asset base to support growth, these costs weighed heavily on its bottom line.

    The balance sheet showed a marginal improvement in total assets, increasing to Rs 2,595.52 crores as of September 2024, compared to Rs 2,477.20 crores in March. Despite this, the company’s debt-to-equity ratio escalated from 0.56 to 0.87 over the past year, signalling a higher reliance on borrowings.

    In the face of these challenges, Mahindra Logistics continues to push forward, prioritising cost control and strategic investments. The management is optimistic about improving margins in the upcoming quarters, driven by initiatives to streamline operations and optimise its supply chain network.

  • Cantabil Retail India Ltd announces Q1 FY 25 results

    Cantabil Retail India Ltd announces Q1 FY 25 results

    Mumbai: Cantabil Retail India Ltd, an apparel manufacturer and retailer, has announced the financial results for its quarter ended on 30 June 2024. For Q1, the company reported a revenue of Rs 127.9 cr. with an EBITDA of 39.4 cr. and net profit of Rs 11.4 cr. The company reported a revenue growth of 14.4 per cent, an EBITDA growth of 14.5 per cent. However, PAT stood at 8.9 per cent.

    The company is aggressively growing its presence around the nation to further consolidate its position in the market, both offline and online. As part of its robust retail strategy, Cantabil has opened 11 (net) new exclusive retail stores during the Q1 FY 25. The new apparel and accessories stores have been opened in different states across states and total store count stood at 545 at the end of Q1 FY 25. Cantabil has emerged as a prominent player in the retail industry and is steadfastly committed to further extending its presence across the length and breadth of India in the current year.

    Commenting on the result announcement, Cantabil Retail India Ltd CMD Vijay Bansal said, “FY 25 has started on a positive note with company delivering double-digit volume growth of 18 per cent in total and achieving a positive SSG. This was achieved despite a lower wedding season demand and heat wave conditions specifically in north India impacting the consumption.

    The above normal monsoon prediction and its progress so far is likely to translate into improvement in discretionary spending. That alongside government focus on consumption push bodes well for companies with strong brand loyalties and customer connect. Our strategic agenda of further expanding our reach with the aim of being ever more proximate and convenient to customers, reinforcing our brand promise, expansion into newer markets, diversification across various segments and categories, and ensuring an elevated shopping experience to our customers will help us to gain advantage of a revival in consumer demand. Cantabil is well-placed to leverage the next wave of growth in the segment by unlocking its various growth platforms. We see a strong demand rebound with the onset of the festival season in Q3 followed by the wedding and winter seasons.

    On the expansion front, the company accelerated its store expansion strategy by opening 11 stores (net) during the quarter.

    With a positive outlook on the growth prospects of both the Indian economy and the fashion apparel sector, we are determined to leverage our robust brand recall value to drive consistent, sustainable growth. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward.”

    Report highlights: (In crores)

    Particulars

    Q1 FY 25

    Q1 FY 24

    REVENUE

    Rs 127.9

    Rs 111.8

    EBITDA

    Rs 39.4

    Rs 34.4

    PAT

    Rs 11.4

    Rs 12.3
  • Strong growth in consolidated GMV at 29 per cent YoY: Nykaa’s 31 December 2023 quarter result

    Strong growth in consolidated GMV at 29 per cent YoY: Nykaa’s 31 December 2023 quarter result

    Mumbai: FSN E-Commerce Ventures Ltd (referred as “Nykaa” or the “company”), has announced its financial results for the quarter ended 31 December 2023.

    Financial Highlights:

    • Financial Highlights Summary:

    o GMV grew 29 per cent YoY to ₹ 36,194 million in Q3 FY2024

    o Revenue from Operations grew 22 per cent YoY to ₹ 17,888 million in the quarter.  

    o Gross Margin grew 20 per cent YoY to ₹ 7,607 million in the quarter. Gross Margin stood at 42.5 per cent.  

    o EBITDA grew 26 per cent YoY to ₹ 988 million in Q3 FY2024.

    o EBITDA margin was 5.5 per cent in Q3 FY2024 vs 5.3 per cent in Q3 FY2023. Adjusted for ESOP and new Business expenses (multi-brand retail  operations in GCC, ‘Nysaa’), EBITDA margin was 6.1 per cent for Q3 FY2024

    o Profit before Tax grew 109 per cent YoY to ₹ 265 million in Q3 FY2024 and,

    o Net Profit for the Period grew 106 per cent YoY to ₹ 175 million.

    o PAT Margin was 1.0 per cent in Q3 FY2024 vs 0.6 per cent in Q3 FY2023.

    • The consolidated revenue from operations continues to grow at a strong pace of 22 per cent YoY, totaling ₹ 17,888 million for the quarter.  

    • We continue to drive improvement in profitability. EBITDA margin expanded to 5.5 per cent for the quarter, a growth of 26 per cent YoY driven by direct and indirect  costs efficiencies. Fulfilment cost as a  per cent to Revenue stood at 9.6 per cent for the quarter, compared to 10.7 per cent in Q3 FY2023. Similarly, employee expense as  a  per cent to Revenue stood at 8.3 per cent for the quarter, compared to 8.7 per cent in Q3 FY2023, witnessing improvements through the last few quarters.

    • During the quarter, we rolled out the ESOP grants for critical and top talent across the organization levels, which is now reflecting in our employee  expenses. Adjusted for ESOP and new business expenses (multibrand retail operations in GCC, ‘Nysaa’), our EBITDA margin would have been  6.1 per cent.

    • PBT and Net Profit witnessed strong growth of 109 per cent YoY and 106 per cent YoY, and stood at ₹ 265 Million and ₹ 175 million, respectively.

    Business Highlights:

    Beauty & Personal Care (BPC)

    • The consolidated BPC GMV witnessed an industry leading growth of 25 per cent YoY, as we continue to gain share while being the largest specialty  beauty retailer of the country. NSV growth stood at 20 per cent YoY primarily due to higher discounting by brands in mass and masstige segment.  

    • Physical retail footprint continues to expand with 39 new stores launched over the last 4 quarters, totalling 174 stores as of December 31, 2023. The  retail business now contributes to over 9 per cent of the overall BPC GMV while also continuing to improve profitability. This is reflected in EBITDA  improvement of 35 per cent YoY. Our retail stores are critical to omnichannel strategy of premium brands. 85 plus premium brands are present across our store  network and contribute over 2/3rd to our offline GMV.

    • Our owned brands in beauty experienced a strong GMV and NSV growth of 40 per cent YoY and 36 per cent YoY respectively with 3 brands witnessing significant scale. Dot & Key – our new age D2C skin care brand is now at a Rs. 5,000 million GMV run rate, scaling 8x since its acquisition. Nykaa  Cosmetics continues to receive much customer love and has achieved a Rs. 4,000 million GMV run rate. Kay Beauty, India’s largest celebrity beauty  brand, has witnessed rapid growth and acceptance, achieving over Rs. 2,000 million GMV run rate, within 4 years of launch.  

    • Nykaaland hosted in Nov 2023, was India’s biggest beauty festival held in Mumbai over 2 days, which saw 15,000 plus attendees and participation  from a unique assortment of 80 plus global and local brands across categories. The first-ever festival featured brand booths, along with masterclasses,  interactive games, installations, music, food and more. Close to 5,000 participants attended 12 masterclasses hosted by industry experts. Acclaimed  american makeup artist Mario Dedivanonic brought his masterclass to India for the first time at the festival. This innovative first of its kind event,  received overwhelming positive response from both brands & consumers. The event generated significant online reach with over 5.5 billion  impressions.

    Fashion

    • This fashion GMV witnessed a strong growth of 40 per cent YoY led by strong growth across all metrics. Our annual unique transacting customer (AUTC)  grew at 23 per cent YoY to 2.9 million, Order growth at stood at 19 per cent YoY and AOV were up 18 per cent YoY, as on December 31, 2023.

    • Our fashion business is showing consistent improvement in profitability reflecting our platform strength and quality of our customers. Contribution  margin as a  per cent to NSV for Nykaa Fashion improved by 510 bps and stood at 6.0 per cent in Q3 FY2024 vs 0.9 per cent in Q3 FY2023. This was supported by  strong improvement in our marketing expenses, down to 23.9 per cent vs 28.6 per cent a year ago.

    • During the quarter, we entered into a long-term strategic partnership with Foot locker, a New York-based specialty athletic retailer. Nykaa Fashion  will serve as the exclusive e-commerce partner and operate Foot Locker’s India website and retail authorized merchandise on Foot Locker branded  shop on Nykaa’s existing ecommerce platforms. This partnership strengthens Nykaa’s position as a destination for premium curated assortment.

    Others/New Businesses

    • New businesses at Nykaa, which includes our distribution business, (which primarily constitutes Superstore by Nykaa), Nykaa Man, International,  content led platform LBB and our wellness brand Nudge, continues to further our BPC industry reach. New Businesses NSV of ₹1,309 million at Q3 FY2024, is now a meaningful share of business.  

    • The distribution business continues to grow exponentially, with NSV growth of 88 per cent YoY during Q3 FY2024. Within 2 years of launch, Superstore scaled up over 31x on GMV and now serves almost 1.5 Lakhs transacting retailers across 950 cities as on December 31, 2023.

    • The distribution business has achieved scale with improving profitability with contribution margin as a  per cent to NSV improving 766 bps YoY. This is  supported by several initiatives which led to improvement in pre delivery leakages, optimization of fulfilment and selling & distribution expenses.

    Pink Friday Sale

    • This year our annual flagship sale “Pink Friday Sale” was hosted in Nov 2023 across our online platforms – Beauty, Fashion & Man as well as our offline stores. This unified sale across platforms has brought in record numbers this year, with about 50 million unique visitors across our platforms and stores in 10 days.

    o Beauty: Being India’s largest beauty sale, the beauty numbers have witnessed exponential growth scaling 10x over the last 5 years. The rise of disposable incomes driving premiumization is evidenced strongly by the demand for luxury products witnessed during this Pink Friday.  Premium and Luxury brands outperformed contributing 1/3rd to overall GMV and growing at 32 per cent YoY.

    o Retail Stores: The growing love for Pink Friday Sale led to 50 per cent increase in footfall compared to regular days. With higher conversions, the  GMV grew even faster than footfalls, witnessing 67 per cent YoY growth.

    o Fashion: “Pink Friday Sale” for fashion has scaled significantly with 5x GMV growth over last 2 years and has grown over 85 per cent YoY. This was  driven by strong improvement in order conversion along with Women’s western wear and bag and footwear category outperforming, with GMV  growth of 120 per cent plus and 150 per cent plus YoY respectively.

    Other announcements

    The company’s board has approved group business restructuring initiatives towards bringing operational synergies by streamlining business operations across entities.

    • Further investment by the company in Nykaa Fashion  Ltd by way of rights issue: FSN E-Commerce Ventures  Ltd is infusing additional equity into Nykaa Fashion  Ltd to be utilised for repayment of loans given by the Company.

    • Acquisition of Lingerie & Athleisure business by way of slump sale from Nykaa Fashion Ltd to FSN E-Commerce Ventures  Ltd: The  board has approved to consolidate the Athleisure and Lingerie business of Nykaa Fashion  Ltd, which is a wholly owned subsidiary of the  Company, into FSN E-commerce Ventures  Ltd. This will help to streamline and consolidate owned brand business in a single entity in a phased manner, similar to beauty-owned brands business which are already within FSN E-commerce Ventures Ltd.

    • Demerger of eB2B business from FSN Distribution to Nykaa E-Retail: The board has approved demerger of eB2B business “Superstore by  Nykaa” from FSN Distribution  Ltd to Nykaa E-Retail Ltd. This will help consolidate our online beauty business in a single entity. The proposed demerger will drive synergies in two businesses that have common physical and technology infrastructure, common brand partners as well as are involved in the retail/distribution of common products. The scheme is subject to necessary regulatory and stakeholder approval.

    Our Consolidated results include results of wholly owned subsidiaries along with Kay Beauty, Dot & Key, Nudge, LBB and associate Earth Rhythm. 

  • The Quint records revenue of Rs 11.79 cr for Q2 FY23

    The Quint records revenue of Rs 11.79 cr for Q2 FY23

    Mumbai: Quint Digital Media (QDML) has published its standalone and consolidated results for the quarter and a half that ended on 30 September 2022.

    On a quarterly basis, the total revenues of the company for Q2 FY23 (September 22) stood at Rs 11.79 crore, recording a growth of eight per cent on a quarter-on-quarter (QoQ) basis. 

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    The company mentioned double-digit growth of 17 per cent over Q2 FY22. While earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased by 50 per cent to Rs 5.54 crore (Q1 FY23 at Rs 3.62 crore), profit after tax increased by 150 per cent over Q1 FY23.

    The Quint maintained strong momentum in Q2 and anticipates continued strong business momentum in Q3 of FY23.

    Total revenues for H1 FY23 (September 2022) were recorded at Rs 22.51 crore vs. Rs 16.91 crore for H1 FY22 (September 2021). Ebitda increased by 30 per cent to Rs 9.15 crore (H1 FY22 at Rs 6.86 crore). PAT increased by more than 20 per cent to Rs 2.83 crore.

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    QDML recorded consolidated total operating revenues of Rs 19.73 crore, a growth of 37 per cent over the previous year (consolidated operating revenues stood at Rs 14.39 crore in Q2 FY22).

    Quintype, a SAAS-based media-tech company, increased revenues by 160 per cent or more to Rs 5.21 crore (up from Rs 1.97 crore in Q1 FY22). Half-yearly revenues stood at Rs 9.57 crore, an increase of 160 per cent over H1 FY22.

    The losses on a consolidated basis (attributable to QDML; net of non-controlling interest) witnessed a reduction of more than 25 per cent over the previous year. The transaction for the divestiture of a 49 per cent stake in BQPRIME is expected to be completed in Q3 FY23, which will lead to a further reduction in the losses attributable to QDML.

    The company is expecting to complete the rights issue in Q3 FY23; the proceeds of the rights issue and consideration of the divestiture of a 49 per cent  stake in BQPRIME will provide the company with significant cash reserves and further boost overall profitability. 

    The audience footprint across the websites and digital platforms (including Facebook, Instagram, YouTube, Twitter, Snapchat, etc.) continued its strong momentum in the quarter. Some of the key data points, aggregated across the websites and digital platforms, are given below: 

  • Sun TV Q2 net profit up marginally to Rs 400.71 cr; revenue from operations declines

    Sun TV Q2 net profit up marginally to Rs 400.71 cr; revenue from operations declines

    Mumbai: Sun TV has reported that its second quarter net profit was Rs 400.71 crore, up marginally by 1.88 per cent from Rs 393.32 crore in the same period of the previous fiscal.

    Ebitda (earnings before interest, taxes, depreciation, and amortisation) was Rs 610.89 crore in September 2022. This was a 4.15 per cent increase over the previous fiscal period of Rs 586.57 crore.

    Profit after tax rose significantly by three per cent to Rs 407.31 crore, compared with a profit of Rs 395.46 crore in the same quarter of the previous fiscal.

    However, revenue from operations fell by 2.7 per cent to Rs. 825.65 crore compared to Rs. 848.67 crore in the same quarter of the previous fiscal.

    A dividend of Rs 3.75 per share has been declared by the company.