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Tag: Financial

  • Q1-2016: Jagran Prakashan y-o-y revenue up 9.3%; Radio City op profit up 40%

    Q1-2016: Jagran Prakashan y-o-y revenue up 9.3%; Radio City op profit up 40%

    BENGALURU: Indian publishing group Jagran Prakashan Limited (JPL) reported 9.3 per cent growth in consolidated operating revenue in the quarter ended 30 June, 2015 (Q1-2016) to Rs 481.15 crore as compared to the Rs 440.29 crore in Q1-2015.  Q-o-Q, JPL’s revenue grew 13.8 per cent as compared to the Rs 422.74 crore in Q4-2015. 

     

    The company’s consolidated profit after tax (PAT) in the current quarter increased 18.5 per cent to Rs 66.36 crore as compared to the Rs 55.99 crore in Q1-2015. However, q-o-q PAT was 39.7 per cent lower than the Rs 129.67 crore in Q4-2015. Adjusted PAT after extraordinary items in Q1-2016 at Rs 179.94 crore was however higher than Q1-2015 and Q2-2015 PAT.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    JPL’s radio subsidiary Music Broadcast Limited (MBL), which has 20 radio stations under the brand ‘Radio City’ reported 40 per cent higher operating profit at Rs 14.5 crore in Q1-2016 as compared to Rs 10.4 crore in the corresponding year ago quarter. The company reported a loss of Rs 2.2 crore in Q1-2016 on account of Rs 13.6 crore (exceptional items) incentives to the management team in respect of their past services in terms of agreement with the erstwhile promoters. If the exceptional items are not considered, then MBL’s PAT would be 74 per cent higher in Q1-2015 at Rs 11.3 crore as compared to the Rs 6.5 crore in the corresponding year ago quarter. In the immediate trailing quarter Radio City’s PAT was Rs 8.47 crore.

     

    Advertising and Circulation numbers

     

    Consolidated advertisement revenue was up by 11.9 per cent to Rs 345.54 crore in Q1-2016 as compared to the Rs 308.89 crore in Q1-2015, while standalone advertisement revenue up by 8.4 per cent to Rs 312.23 crore as compared to the Rs 288.01 crore in Q1-2015. Radio City reported advertising revenue of Rs 13.08 crore in Q1-2016.

     

    Consolidated Circulation revenue in the current quarter increased 5.1 per cent to Rs 100.51 crore as compared to the Rs 95.66 crore in Q1-2015. Standalone circulation revenue increased 5.4 per cent to Rs 94.48 crore in Q1-2016 as compared to the Rs 89.64 crore in the corresponding year ago quarter.

     

    Let us look at the other numbers reported by Jagran Prakashan

     

    Total Expense in Q1-2015 at Rs 369.45 crore was 12.2 per cent more than the Rs 329.35 crore Q1-2015 and 6.6 per cent more than the Rs 346.61 crore in the immediate trailing quarter.

     

    Cost of Raw materials consumed in Q1-2016 at Rs 155.89 crore was 4.2 per cent less than the Rs 162.7 crore in Q1-2015, but 8.3 per cent more than the Rs 346.61 crore in Q4-2015.

     

    The company’s radio segment results have been mentioned above. The segment reported 10.3 per cent growth in operating revenue to Rs 47.4 crore as compared to the Rs 43 crore in Q1-2015. For Q4-2015, MBL reported revenue of Rs 53.93 crore.

     

    MBL’s interest costs have been increasing with time. In Q1-2016, the company paid more than six times the interest it paid at Rs 5.10 crore as compared to the Rs 0.80 crore in Q1-2015 and 26.2 per cent more than the Rs 4.04 crore in Q4-2015.

     

    Company speak

     

    JPL chairman and managing director Mahendra Mohan Gupta said, “Q1-2016 was eventful for more than one reason. The company not only completed the long awaited acquisition of Radio City but it also delivered the highest ever profit and probably the highest growth in advertisement revenue in the industry. This robust performance in an economically difficult time could be possible due to the company’s ability to timely sense the inordinate delay in economic recovery and act accordingly.”

     

    “From the first quarter itself, Radio City has started contributing to the company’s profits and I am confident that this acquisition is going to be hugely value accretive. Finally, even though the economy is not yet supporting the growth, the first quarter’s performance gives me the confidence that we will continue to grow and meet your expectations,” added Gupta.

  • Q1-2016: Reliance Retail y-o-y revenue up 17.5%

    Q1-2016: Reliance Retail y-o-y revenue up 17.5%

    BENGALURU: Reliance Industries Limited’s (RIL) organized retail segment – Reliance Retail is a tiny fraction of the revenue that India’s largest private corporate reports. However, this segment has been growing consistently, quarter on quarter.

     

    In Q1-2016 (quarter ended 30 June, 2015), though RIL has reported a 23 per cent y-o-y consolidated revenue drop, Reliance Retail posted a 17.5 per cent revenue growth in the same period at Rs 4968 crore as compared to the Rs 3999 crore in Q1-2015. Reliance Retail’s Q1-2016 revenue however was 1.9 per cent lower than the Rs 4788 crore in the immediate trailing quarter.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    The retail segment reported a profit before tax (PBIT) of Rs 111 crore (2.4 per cent EBIT margin) in the current quarter, 37 per cent more than the Rs 81 crore (2 per cent EBIT margin) and 6.7 per cent more than the Rs 104 crore (2.2 per cent EBIT margin) in Q4-2015.

     

    Though RIL reported a drop in revenue to Rs 83,064 crore in Q1-2016 as compared to the Rs 1,07,905 crore in Q1-2015, it was 17.2 per cent more than the Rs 70,863 crore in Q4-2015. RIL also posted a record consolidated PBDIT of Rs 12,095 crore, up 9.8 per cent as compared Rs 11,016 crore to Q1-2015. Net Profit at Rs 6222 crore was 4.4 per cent more than the Rs 5957 crore in the corresponding year ago quarter, but declined 2.5 per cent as compared to the Rs 6381 crore in the immediate trailing quarter.

     

    Company speak on organized retail segment

     

    The company says that its Value Formats consolidated its leadership position further of being the largest grocery retailer in the country. The business expanded its network further with new store openings to strengthen its leadership position and optimise its operations. The formats launched several own brands products under various categories in the quarter.

     

    Reliance Market continued additions to its store network, reaching out to more and more kiranas, traders and institutions as partners across the country. Contribution of Private Label Sales to overall sales increased to 10 per cent from eight per cent in the same period last year. Reliance Market now serves over 17 lakh registered members across 35 cities.

     

    The digital sector maintained its growth momentum and operates 1,298 stores across the country.

     

    Reliance Digital with its superior in-store experience and extensive product assortments continued to improve its proposition and delight customers. Digital Express Mini rapidly scaled up its operations during the quarter and surpassed the milestone of operating over 1,000 stores across the country in a short time since launch, a feat achieved by any retailer first time in the country.

     

    The Fashion and Lifestyle sector delivered strong performance in the quarter by offering fashionable, high quality merchandise at great value. Reliance Trends operates a strong own brand portfolio comprising over 20 brands that contribute over 70 per cent of overall sales. During the period, the format has partnered with a globally renowned fashion house to augment its in-house product design capabilities. The association would help in bringing global fashion trends to the Indian market thereby bridging the gaps in the merchandise offerings.

     

    Reliance Brands strengthened its presence through its partnerships during this period. During the period, Reliance Brands announced an exclusive partnership with Japanese retailer Muji, which sells a wide verity of household and consumer goods and 130 year old Dutch lingerie brand Hunkemöller.

     

    The first BCBG MAX Azria store was launched in Delhi, marking the launch of international womenswear brand known for its contemporary fashion sensibilities in India.

     

    As on 30 June, 2015, Reliance Retail operated 2,747 stores across 210 cities in India. 

  • FY-2015: UFO Moviez revenue up 13%, EBIDTA up 21%

    FY-2015: UFO Moviez revenue up 13%, EBIDTA up 21%

    BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform, UFO Moviez Limited (UFO) reported a 12.78 per cent growth in consolidated revenue to Rs 479.34 crore for the year ended 31 March, 2015 (FY-2015), as compared to the Rs 425.03 crore in the previous year, by increase in advertising clients and higher Virtual Print Fees (VPF) revenues.  The company reported 20.75 higher operating profit or EBIDTA, for FY-2015 at Rs 160.83 crore (33.55 per cent margin) as compared to the Rs 133.12 crore (31.34 per cent margin) in the previous fiscal.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore.

     

    The company’s PAT in FY-2015 increased 2.42 per cent to Rs 48.81 crore (10.18 per cent margin) as compared to the Rs 47.66 crore (11.21 per cent margin in the previous year).  The company says that the increase in PAT has come about despite a FY-2014 tax expense having a deferred tax credit of Rs 10.946 crore, which is Rs 4.98 crore higher than FY-2015 deferred tax credit of Rs 5.966 crore.

     

    Further, despite lower expense towards purchase of digital cinema equipment and lamps, higher expenses towards advertisement revenue share, VPF share and depreciation eroded the profits of the company in FY-2015.

     

    UFO joint managing director Kapil Agarwal said, “Both Advertising and VPF delivered healthy growth during the fiscal. This can be attributed to improved utilisation of advertisement inventory coupled with higher number of movie releases. Our focus on delivering uninterrupted service on our technology platform to distributors and advertisers, with whom we have healthy relationship, has helped us maintain market leadership. We will continue to leverage our existing platform to drive growth. Overall, we will continue to strive to deliver strong operating performance in the Fiscal Year 2015-16.”

     

    Let us look at the other expense reported by the company:

     

    Total Expenses in FY-2015 at Rs 395.45 crore (83.11 per cent of TIO) was 10.66 per cent more than the Rs 357.35 crore (84.24 per cent of TIO) in FY-2014. The company’s expense towards purchase of digital cinema equipment and lamps in the current year dropped 16.46 per cent to Rs 40.59 crore (8.53 per cent of TIO) as compared to the Rs 48.59 crore (11.45 per cent of TIO) in the previous fiscal.

     

    The company paid a 27.23 higher amount towards advertisement revenue share in FY-2015 at Rs 39.39 crore (8.28 per cent of TIO) as compared to the Rs 30.96 crore (7.3 per cent of TIO) in FY-2014.

     

    Further, the company paid 22.91 per cent more towards VPF share at Rs 63.31 crore (13.31 per cent of TIO) in FY-2015 as compared to the Rs 51.51 crore (12.14 per cent of TIO) in the previous year.

     

    The company reported higher depreciation in FY-2015 at Rs 79.64 crore (16.17 per cent of TIO) as compared to the Rs 65.52 crore (15.45 per cent of TIO) in Fy-2014.

     

    Advertisement and VPF revenues playout during the year

     

    UFO says that its in-cinema advertising platform comprised 3,784 screens with an average weekly seating capacity of approximately 5.2 crore as on 31 March, 2015, which engaged with about 1724 advertisers during the year and delivered advertisements across 1,951 locations. Its annual advertisement revenue per screen (average) stood at Rs 316,346 in FY-2015 compared to Rs 299,711 in FY-2014. The number of minutes sold per show per advertisement screen (average) stood at 3.36 in the current year compared to 3.25 in FY-2014, while the number of in-cinema advertising clients increased to 1724 in FY-2015 from 1056 in FY-2014.

     

    The company says that its digital cinema network in India comprised 5,032 screens with a seating capacity of approximately 22.2 lakh per show as on 31 March, 2015. (Note: Nepal forms a part of the Indian Film Territory, hence the number of digital screens includes Nepal screens). The company delivered approximately 1636 movies for 1830 distributors across 1,970 locations during the year.

     

    In India, annual gross VPF revenue / screen (average) on E-Cinema stood at Rs 259,171 in FY-2015 as compared to Rs 251,308 in FY-2014, while annual gross VPF revenue / screen (average) on D-Cinema stood at Rs 586,961 in FY-2015 as compared to the Rs 603,304 in FY-2014.

     

    Internationally, annual gross VPF revenue / Screen (average) on D-Cinema stood at Rs 750,764 in FY-2015 compared to Rs 812,102 in FY-2014.

     

    UFO managing director Sanjay Gaikwad said, “We are pleased to announce a healthy operating and financial performance during the fiscal year 2014-15. The growth prospects for UFO remain robust. We believe that there is a lot of headroom for growth in advertisement revenue, given that the number of minutes sold per show per screen on our network is significantly lower than multiplex chains. We expect this to improve gradually as advertiser engagements further deepen and as we attract new advertisers. We will continue to leverage our current base by also focusing on our synergetic business initiative Caravan Talkies – cinema on wheels, to drive incremental revenues. Our technology platform, differentiated service offering, clear strategic focus and experienced execution and management teams, give us a firm foundation to capture growth in the years to come.”

  • Q1-2016: Subscription revenue growth, lower finance costs reduce Videocon d2h loss

    Q1-2016: Subscription revenue growth, lower finance costs reduce Videocon d2h loss

    BENGALURU: The addition of 6.1 lakh gross subscribers and 4.6 lakh net subscribers in Q1-2016 (quarter ended 30 June, 2015), coupled with higher average revenue per user (ARPU) for Q1-2016, resulted in a y-o-y 32.1 per cent growth in subscription revenue and 23.3 per cent growth in revenue from operations (TIO) in Q1-2016 for Videocon d2h.

     

    On a q-o-q basis, subscription revenue increased 3.7 per cent, while TIO increased six per cent. The company also reported a marked fall in finance costs and consequently, the company’s loss in the current quarter more than halved to Rs 24.4 crore as compared to the Rs 55.8 crore in Q1-2015 and was less than a third of the Rs 75.7 crore in Q4-015.

     

    Videocon achieved strong subscription revenue growth of 32.1 per cent to Rs 599.61 crore (90.5 per cent of TIO) in Q1-2016 as compared to the Rs 453.77 crore (84.4 per cent of TIO) in Q1-2015 and growth of 3.7 per cent as compared to the Rs 578.33 crore (92.5 per cent of TIO) in the immediate trailing quarter.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    TIO in Q1-2016 at Rs 662.83 crore was 23.3 per cent more than the Rs 537.65 crore in Q1-2015 and six per cent more than the Rs 625.27 crore in Q4-2015.

     

    Average revenue per user (ARPU) in Q1-2016 at Rs 205.30 was 9.7 per cent more than the Rs 187.14 in the corresponding year ago quarter and was 1.5 per cent more than the Rs 202.17 in Q4-2015. (Conversion rate from 1 dollar = 62.59 Indian rupee for all the three quarters).

     

    The company’s finance costs in Q1-2016 reduced 26.8 per cent to Rs 76.5 crore (11.5 per cent of TIO) as compared to the Rs 104.5 crore (19.4 per cent of TIO) in the corresponding year ago quarter and was an impressive 41.2 per cent lower than the Rs 130.1 crore (20.8 per cent of TIO) in Q4-2015. 

     

    Videocon d2h executive chairman Saurabh Dhoot said, “We are pleased to declare a strong set of results for the quarter ended 30 June, 2015 and are on track to achieve the guidance provided for fiscal 2016. With a strong subscriber growth outlook, DTH sector gaining market share over cable and an improving ARPU scenario; we believe we are just at the beginning of a multi-year strong growth opportunity.”

     

    During this quarter, Videocon d2h added three proprietary channels and also set up an advertising team to sell ad inventory for the same. These channels are d2h nursery rhymes, d2h Cinema HD and a music channel. Additionally, it also added three Active services, namely, Active Kids, Active Games and Active Learning during the quarter, which have started getting traction from customers.

     

    Dhoot added, “I am happy to share that we recently set up an advertising team to sell ad inventory on our own proprietary channels. We are beginning to see an encouraging response from multiple advertisers.”

     

    Issuance of bonus shares

     

    The board of directors of the company, at their meeting held on 22 July, 2015, determined that the Initial Performance Hurdle has been achieved and satisfied and hence has approved, subject to approval of Ministry of Information and Broadcasting and such other approvals and consents as may be required under the applicable regulations, the issuance of 23,360,000 equity shares (equivalent to 5,840,000 ADSs) to the shareholders of the company as of the date of the Contribution Agreement and the issuance of 3,999,984 equity shares (equivalent to 999,996 ADSs) to the sponsor by way of a bonus issue, in accordance with the terms of the Contribution Agreement and the Articles of Association of the Company. Further, Saurabh Dhoot also becomes entitled to receive 1,400,000 (equivalent to 350,000 ADSs) equity shares of the Company.

     

    The Initial Performance Hurdle was that the last sales price of the Videocon d2h ADSs on NASDAQ (converted into Indian rupees on each such day at the Indian Rupee/U.S. Dollar Exchange Rate on such date) for 20 trading days in a 30-trading day period equals or exceeds 125 per cent of the Listing Price (i.e. price per ADS issued to the SEAC Distribution Record Holders converted into Indian rupees at the Indian Rupee/U.S Dollar Exchange Rate prevailing on the Closing Date, March 31, 2015).

     

    Let us look at the other numbers reported by Videocon d2h

     

    The company’s EBIDTA (operating profit) in Q1-2016 increased 26.3 per cent to Rs 187.43 crore (28.3 per cent margin) from Rs 148.45 crore (27.6 per cent margin) in Q1-2015 and increased 15.9 per cent from Rs 161.77 crore (25.9 per cent margin) in Q4-2015.

     

    Videocon d2h total expenditure (TE) in Q1-2016 increased 20.3 per cent to Rs 618.1 crore (93.3 per cent of TIO) as compared to the Rs 513.7 crore (95.5 per cent of TIO) in Q1-2015 and increased 2.2 per cent as compared to the Rs 604.5 crore (96.7 per cent of TIO)

     

    Videocon d2h’s operating expense in Q1-2016 at Rs 379.1 crore (57.2 per cent of TIO) was 22.7 per cent more than the Rs 309 crore (57.5 per cent of TIO) in Q1-2015 and was 4.2 per cent more than the Rs 363.7 crore (58.2 per cent of TIO) in Q4-2015.

     

    The company says that its content cost as percentage of revenue in Q1-2016 was 37 per cent as compared to 32.7 per cent in Q1-2015 and 38.4 per cent in the immediate trailing quarter.

     

    Videocon d2h’s selling and distribution expense in the current quarter increased 17.8 per cent to Rs 50.9 crore (7.7 per cent of TIO) as compared to the Rs 43.2 crore (8 per cent of TIO) in Q1-2015 and increased 10.4 per cent as compared to the Rs 46.1 crore (7.4 per cent of TIO) in Q4-2015.

     

    Administrative and other expense in Q1-2016 increased 15 per cent to Rs 14.6 crore (2.2 per cent of TIO) as compared to the Rs 12.7 crore (2.4 per cent of TIO) in Q1-2015, but reduced by 42.3 per cent as compared to the Rs 25.3 crore (four per cent of TIO) in Q4-2015.

     

    Employee Benefit Expense in Q1-2016 increased 26.6 per cent to Rs 30.9 crore (4.7 per cent of TIO) as compared to the Rs 24.4 crore (4.5 per cent of TIO) in Q1-2015 and was 8.4 per cent more than the Rs 28.5 crore (4.6 per cent of TIO) in Q4-2015.

     

    Videocon d2h CEO Anil Khera said, “We believe around 10 crore homes will be up for grabs by digital cable and DTH operators in the next four – five years. DTH should gain higher market share in Phase III and IV of the Government of India digitization plan in comparison to the prior phases. We are excited and prepared to take on the significant subscriber growth opportunity ahead of us, as we approach the Phase III digitization deadline. While actual implementation could take time, we continue to believe the government has a strong intent to switch off analogue cable as per the plan.”

  • Q1-2016: Pressman Advertising revenue up 67.8%

    Q1-2016: Pressman Advertising revenue up 67.8%

    BENGALURU: Pressman Advertising Limited (Pressman) reported 67.8 per cent growth in revenue for the quarter ended 30 June, 2015 (Q1-2016) at Rs 14.72 crore as compared to Rs 8.77 crore in Q1-2015 and a 31.4 per cent growth as compared to Rs 11.21 crore in Q4-2015.

     

    Note: 100,00,000 = 100 lakh =10 million = 1 crore

     

    The company’s profit after tax (PAT) in the current quarter increased 7.7 per cent to Rs 1.34 crore (9.1 per cent of TIO) in Q1-2016 as compared to the Rs 1.25 crore (14.2 per cent of TIO) in Q1-2015. Pressman had reported a loss of Rs 0.11 crore in the immediate trailing quarter.

     

    Pressman’s simple EBIDTA excluding other income in Q1-2016 was more than double (2.6 times more) at Rs 1.934 crore (13.1 per cent of TIO) as compared to the Rs 0.745 crore (8.5 per cent of TIO) in the corresponding year ago quarter and was 50.4 per cent more than the Rs 1.3 crore (11.5 per cent of TIO) in the immediate trailing quarter.

     

    Total Expenses (TE) in Q1-2016 increased 58.9 per cent to Rs 12.80 crore (87 per cent of TIO) as compared to the Rs 8.06 crore (91.8 per cent of TIO) in Q1-2015 and was 28.8 per cent more than the Rs 9.94 crore (88.7 per cent of TIO) in Q4-2015.

     

    Cost of services (COS) is a major expense head in TE declared by the company in its results filed at the bourses. COS in Q1-2016 at Rs 11.73 crore (79.7 per cent of TIO) was 71.3 per cent more than the Rs 6.85 crore (78 per cent of TIO) in Q1-2015 and was 32.6 per cent more than the Rs 8.84 crore (78.9 per cent of TIO) in Q4-2015.

     

    Employee benefit expense in Q1-2015 at Rs 0.55 lakh was 13.4 per cent lower than the Rs 0.63 crore in Q1-2015 but was almost flat (0.3 per cent higher) than the Rs 0.548 crore in Q4-2015.

  • Q1-2016: Network18, TV18 report y-o-y revenue growth

    Q1-2016: Network18, TV18 report y-o-y revenue growth

    BENGALURU: Network18 Media & Investments Limited (Network18) reported 12 per cent growth in consolidated income from operations (TIO) to Rs 793.65 crore in the quarter ended 30 June, 2015 (Q1-2016) as compared to the Rs 708.39 crore in Q1-2015. TIO in Q1-2016 was however 5.7 per cent lower than the Rs 841.43 crore in Q4-2015. 

     

    The company reported a consolidated loss of Rs 5.96 crore in the current quarter as compared to the massive onetime adjustment loss of Rs 1156.50 crore after the Mukesh Ambani led Reliance Industries Limited took over the company. Network18 had reported a profit after tax (PAT) of Rs 45.33 crore in Q4-2015.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    The company’s Media Operations segment, TV18 Broadcast Ltd, in which Network18 has holdings, reported a 3.5 per cent growth in revenue to Rs 718.79 crore in Q1-2016 from Rs 694.08 crore in Q1-2015, but reported a decline of 13.7 per cent from the Rs 832.63 crore in the immediate trailing quarter. The segment reported a lower operating loss of Rs 15.80 crore in the current quarter as compared to an operating loss of Rs 83.72 crore in Q1-2015 and an operating profit of Rs 58.64 crore in Q4-2015.

     

    Network18’s Film Production and Distribution (Film) segment reported more than threefold increase (3.67 times) in revenue to Rs 52.61 crore in Q1-2016 as compared to the Rs 14.32 crore in Q1-2015 and an almost eleven fold increase from the Rs 4.8 crore in Q4-2015. The film segment reported an operating profit of Rs 1.34 crore in Q1-2016 as compared to a loss of Rs 0.95 crore in Q1-2015 and a loss of Rs 2.44 crore in Q4-2015.

     

    The company’s Earnings before interest, taxes, depreciation and amortisation (EBIDTA, includes other income) in Q1-2016 at Rs 49.1 crore (6.2 per cent margin) was almost double (1.99 times) the Rs 24.7 crore (3.5 per cent margin) in Q1-2015, but was less than half again as much (49.3 per cent) of the Rs 99.6 crore in Q4-2015.

     

    Network18 reported 10.7 per cent increase in total expenditure to Rs 811.9 crore (102.3 per cent of income from operations) in Q1-2016 as compared to the Rs 733.5 crore (103.5 per cent of income from operations) in Q1-2015 and 2.9 per cent more than the Rs 789 crore (93.8 per cent of income from operations) in Q4-2015.

     

    Network18 employee benefit expense in Q1-2016 at Rs 159.8 crore (20.1 per cent of income from operations) was 8.9 per cent more than the Rs 146.8 crore (20.7 per cent of income from operations) in Q1-2015 and was 11.3 per cent more than the Rs 143.6 crore (17.1 per cent of income from operations) in Q4-2015.

     

    Network18 programming cost in Q1-2016 at Rs 206.3 crore (26 per cent of income from operations) was 21.7 per cent more than the Rs 169.5 crore (23.9 per cent of income from operations) in Q1-2015 and was almost flat (0.8 per cent lower) than the Rs 208 crore (24.7 per cent of income from operations) in the immediate trailing quarter.

     

    TV18 Broadcast Limited

     

    TV18 reported a 13.1 per cent growth in consolidated income from operations to Rs 596.7 crore in Q1-2015 as compared to the Rs 527.7 crore in Q1-2015, but a 5.2 per cent decline as compared to the Rs 629.7 crore in Q4-2015. TV18 reported a loss of Rs 4.2 crore in the current quarter as compared to the onetime adjustment loss of Rs 214.2 crore in Q1-2015 and a profit of Rs 86.3 crore in the immediate trailing quarter.

     

    TV18’s EBIDTA (including other income) in Q1-2016 at Rs 20 crore (3.4 per cent margin) was a little more than one third (37.4 per cent) of the Rs 53.5 crore (10.1 per cent margin) and less than one-fifth (15.6 times) the Rs 111.3 crore (17.7 per cent margin) in Q4-2015.

     

    TV18’s total expenditure in Q1-2016 increased 17 per cent to Rs 595.9 crore (99.9 per cent of income from operations) from Rs 509.5 crore (96.6 per cent of income from operations) and increased 7.4 per cent from Rs 555.1 crore (88.2 per cent of income from operations) in Q4-2015. 

     

    A major expenditure increase was TV18’s marketing, distribution and promotional expense in Q1-2016 by 33 per cent to Rs 135.9 crore (22.8 per cent of income from operations) from Rs 102.2 crore (19.4 per cent of income from operations) in Q1-2015 and an increase of 19.7 per cent as compared to the Rs 113.5 crore (18 per cent of income from operations) in the immediate trailing quarter.

     

    Click here to read unaudited financial of Network 18

     

    Click here to read investor presentation of TV18

  • Q1-2016: PVR PAT improves more than sevenfold; to raise Rs 500 crore

    Q1-2016: PVR PAT improves more than sevenfold; to raise Rs 500 crore

    BENGALURU: Indian motion picture exhibition, production and distribution house PVR Limited (PVR) reported more than sevenfold increase in profit after tax (PAT) in the quarter ended 30 June, 2015 (Q1-2016) as compared to the corresponding year ago quarter. 

     

    PVR’s PAT for Q1-2015 was Rs 58.45 crore (12 per cent of Total Income from Operations or TIO), while in Q1-2015, it was Rs 7.66 crore (2.1 per cent of TIO). The company had reported a loss of Rs 35.66 crore in the immediate trailing quarter (Q4-2015) citing impact by poor movie content and World Cup Cricket towards the end of FY-2015. 

     

     Note:  100,00,000 = 100 lakh = 10 million = 1 crore

    All numbers are consolidated unless stated otherwise.

     

    Additionally, PVR’s board of directors has also approved to raise a sum of Rs 500 crore by issuing Non Convertible Debentures (NCD) subject to approval by the members of the company in the forthcoming Annual General Meeting.

     

    The board also approved the scheme of merger of PVR Leisure Limited and Lettuce Entertain You Limited with the Company.

     

    Approval was also given for the allotment of 50,00,000 equity shares priced at Rs 700 per share of face value Rs 10 each equity share at a premium of Rs 690 per share aggregating to Rs 350 crore on preferential basis to Plenty Cl Fund I Limited, Multiples Private Equity Fund II LLP and Plenty Private Equity Fund I Limited.

     

    Box Office performance

     

    This quarter has seen the release of some hits and super hits like Tanu Weds Manu Returns (Gross Box Office or GBO Rs 46.9 crore, 25 lakh admits, Average Ticket Price or ATP Rs 185); Piku (GBO Rs 27.7 crore, 15 lakh admits, ATP Rs 186); Fast and Furious 7 (GBO Rs 26.6 crore, 15 lakh admits, ATP Rs 174); ABCD2 (GBO Rs 23.4 crore, 13 lakh admits, ATP Rs 183); and Avengers-Age of Ultron (GBO Rs 24.4 crore, 13 lakh admits, ATP Rs 182) that have driven the resurgence in revenue as well as PAT.

     

    Net Box Office (NBO) collections in the current quarter increased 34.96 per cent to Rs 274.19 crore from Rs 203.16 crore in Q1-2015. Q1-2016 saw admits increasing by 25 per cent to 1.9 crore with an occupancy of 38 per cent as compared to 1.52 crore with an occupancy of 32 per cent in Q1-2015. ATP in the current quarter also improved to Rs 183 from Rs 176 in Q1-2015.

     

    While the share of NBO as percentage of TIO has gone up fractionally in Q1-2016 to 59.3 per cent (Rs 249.12 crore) from 59.2 per cent (Rs 197.61 crore) in Q1-2015, Food and Beverage (F&B) share has gone up to 28 per cent (Rs 117.87 crore) from 25.9 per cent (87.04 crore) in Q1-2015, advertising share has dropped in percentage terms but increased in value terms to Rs 41.62 crore (9.9 per cent) in the current quarter from Rs 35.2 crore (10.2 per cent) and others contribution has dropped to 2.8 per cent (Rs 12 crore) from Rs 14.95 crore (4.5 per cent).

     

    Let us look at the other numbers reported by PVR

     

    The company has reported positive results in Q1-2015 from all its revenue generating segments, which include movie exhibition, movie production and distribution as well as ‘Others,’ which includes bowling, gaming and restaurant services, etc. As a matter of fact, the ‘Others’ segment has returned an operating profit of Rs 0.82 crore in Q1-2016 as compared to operating losses of Rs 2.46 crore and Rs 1.46 crore in Q1-2015 and Q4-2015 respectively.

     

    TIO in Q1-2016 at Rs 486.02 crore was 34.2 per cent more than the Rs 362.26 crore in the corresponding year ago quarter and was 62.3 per cent more than the Rs 299.55 crore in Q4-2015.

     

    Net F&B revenue increased by 45.9 per cent in Q1-2016 to Rs 129.79 crore from Rs 88.97 crore in the corresponding year ago quarter. Spend per head has increased 16 per cent to Rs 74 in Q1-2016 from Rs 63 in Q1-2015. The company says that it has managed to lower the cost of goods and sold (COGS) by 4.1 per cent in Q1-2016 to 24.9 per cent from 29 per cent in Q1-2015.

     

    PVR’s sponsorship revenue has gone up 27.5 per cent to Rs 45.69 crore in Q1-2016 from Rs 35.84 crore in Q1-2015. The company says that eight blockbusters in the quarter helped maximizing revenues namely Tanu Weds Manu Returns, Fast & Furious 7, Piku, Avengers, ABCD2, Jurassic World, Dil Dhadakne Do and Gabbar is Back.

     

    Total expense in Q1-2016 at Rs 402.77 crore (82.9 per cent of TIO) was 19.6 per cent more than the Rs 336.68 crore (92.9 per cent of TIO) in Q1-2015 and was 28.2 per cent more than the Rs 314.12 crore (104.9 per cent of TIO) in the immediate trailing quarter.

     

    The company’s film exhibition cost increased 30 per cent to Rs 113.69 crore (23.4 per cent of TIO) in Q1-2016 as compared to the Rs 87.48 crore (24.1 per cent of TIO) in Q1-2015 and increased a massive 80.6 per cent as compared to the Rs 62.96 crore (21 per cent of TIO) in Q4-2015.

     

    F&B and other cost in Q1-2016 increased 25.2 per cent to Rs 34.59 crore (7.1 per cent of TIO) as compared to the Rs 27.63 crore (7.2 per cent of TIO) in Q4-2015. 

     

    Other expense in Q1-2016 increased 33.8 per cent to Rs 37.72 crore (7.8 per cent of TIO) as compared to the Rs 28.20 crore (7.8 per cent of TIO) in Q1-2015, but was 16.9 per cent lower than the Rs 45.38 crore (15.1 per cent of TIO) in the immediate trailing quarter.

  • Raj TV y-o-y revenue up 3.4%: PAT down 60.5%

    Raj TV y-o-y revenue up 3.4%: PAT down 60.5%

    BENGALURU: South Indian television network Raj TV Limited reported 3.4 per cent higher net Total Income from Operations (TIO) in the quarter ended 30 June, 2015 (Q1-2016) at Rs 19.76 crore as compared to Rs 19.11 crore in Q1-2015, but 14.1 per cent lower than Rs 22.99 crore in Q4-2015.

     

    The company’s profit after tax (PAT) in Q1-2016 declined by a massive 60.5 per cent to Rs 1.15 crore (5.8 per cent of TIO) as compared to the Rs 2.92 crore (15.3 per cent of TIO) in Q1-2015 and declined 56.3 per cent as compared to the Rs 2.64 crore (11.5 per cent of TIO) in the immediate trailing quarter.

     

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

     

    Raj TV’s simple EBIDTA without considering other income in Q1-2016 declined nine per cent to Rs 4.47 crore (22.6 per cent margin) as compared to the EBIDTA of Rs 4.92 crore (25.7 per cent margin) in the corresponding quarter of the previous year and was almost half (down 49.7 per cent) the EBIDTA in Q4-2015 of Rs 8.89 crore (38.7 per cent of TIO).

     

    The company’s Total Expenditure (TE) in Q1-2016 at Rs 16.90 crore (85.2 per cent of TIO) was 14.2 per cent more than the Rs 14.80 crore (77.4 per cent of TIO) in Q1-2015 and 23.3 per cent more than the Rs 13.70 crore (59.6 per cent of TIO) in Q4-2015.

     

    Raj TV’s cost of revenues in Q1-2016 increased 17.3 per cent to Rs 7.30 crore (37 per cent of TIO) as compared to the Rs 6.22 crore (32.6 per cent of TIO) in Q1-2015 and was almost quadruple (3.82 times) the Rs 1.90 crore (8.3 per cent of TIO) in Q4-2015.

     

    The company’s administrative expense in Q1-2016 was up 7.1 per cent to Rs 2.72 crore (13.8 per cent of TIO) as compared to the Rs 2.54 crore (13.3 per cent of TIO) in Q1-2015 and was less than half (57 per cent lower) than the Rs 6.33 crore (27.5 per cent of TIO) in the immediate trailing quarter.

     

    Raj TV’s employee benefit expense (EBE) in Q1-2016 at Rs 5.26 crore (26.6 per cent of TIO) was 3.1 per cent lower than the Rs 5.43 crore (28.4 per cent of TIO) in Q1-2015 and 10.3 per cent lower than the Rs 5.87 crore (25.5 per cent of TIO) in Q4-2015.

     

    Raj TV’s tax expense in the current quarter Rs 0.57 crore was 43.2 per cent lower than the Rs 1.01 crore in Q1-2015 and a little more than one-ninth (1/8.8 times) the Rs 5.09 crore in Q4-2015.

     

    Click here to read unaudited financial result

  • Q1-2016: HT Media revenue up 7.5%; radio revenue up 2.3%, PAT down

    Q1-2016: HT Media revenue up 7.5%; radio revenue up 2.3%, PAT down

    BENGALURU: HT Media Limited (HT Media) reported 7.5 per cent growth in total income from operations (TIO) for the quarter ended 30 June, 2015 (Q1-2015) at Rs 587.18 crore as compared to the Rs 546.41 crore in Q1-2014 and 1.8 per cent higher than the Rs 576.92 crore in Q4-2015. 

     

    Its radio segment also reported a 2.3 per cent increase in revenue to Rs 24.52 crore (4.2 per cent of TIO) in Q1-2016 as compared to the Rs 23.97 crore (4.4 per cent of TIO) in the corresponding year ago quarter, but five per cent less than the Rs 25.82 crore (4.5 per cent of TIO) in the immediate trailing quarter.

     

    Note: (1) 100,00,000 = 100 lakh = 10 million = 1 crore

     

    (2) The figures mentioned in this report are consolidated figures unless stated otherwise.

     

    The company’s consolidated profit after tax (PAT) in Q1-2016 fell 23.6 per cent to Rs 24.95 crore (4.2 percent of TIO) from Rs 32.67 crore (6 per cent of TIO) in Q1-2014 and fell 36.5 per cent from Rs 39.28 crore in Q4-2015.

     

    Advertising and Circulation revenue

     

    HT Media’s advertising revenue grew by five per cent in Q1-2016 to Rs 467.5 crore (79.6 per cent of TIO) from Rs 445.4 crore (81.5 per cent of TIO); Circulation revenues grew by 6.3 per cent in Q1-2016 to Rs 72.9 crore (12.4 per cent of TIO) as compared to the Rs 68.6 crore (12.6 per cent of TIO) in Q1-2014. 

     

    Let us see how the segments performed

     

    Three segments contribute to HT Media’s numbers – (1) Printing and publishing of newspapers and periodicals (Publishing) (2) Radio and (3) Digital.

     

    HT Media’s publishing segment reported 6.2 per cent growth in revenue to Rs 532.44 crore (90.7 per cent of TIO) in Q1-2016 from Rs 501.54 crore (91.8 per cent of TIO) in Q1-2015 and was 1.8 per cent more than the Rs 522.85 crore (90.6 per cent of TIO) in Q4-2015.

     

    The publishing segment reported operating profit of Rs 79.29 crore in Q1-2016, 22.8 per cent more than the Rs 64.55 crore in Q1-2015 and 11.6 per cent more than the Rs 70.12 crore in Q4-2015.

     

    HT Media has four FM radio stations – Fever 104 in Delhi, Mumbai, Bengaluru and Kolkata.

    Radio segment revenue numbers have been mentioned above. HT Media’s radio segment reported operating profit of Rs 6.68 crore in Q1-2016 was 46.2 per cent higher than the Rs 4.57 crore in Q1-2015 but 22 per cent lower than the Rs 8.56 crore in Q4-2015.

     

    The company’s digital segment reported 28.8 per cent growth in revenue to Rs 30.56 crore (5.2 per cent of TIO) in Q1-2016 as compared to the Rs 23.72 crore (4.3 per cent of TIO) in Q1-2015 and 6.9 per cent more than the Rs 28.60 crore (five per cent of TIO) in Q4-2015. Digital segment reported higher loss of Rs 23.88 crore in Q1-2016; loss of Rs 12.19 crore in Q1-2015; loss of Rs 14.02 crore in Q4-2015.

     

    The company reported unallocated losses of Rs 20.01 crore in Q1-2016; loss of 22.28 crore in Q1-2015 and loss of Rs 39.49 crore in Q4-2015.

     

    Company Speak

     

    HT Media chairperson and editorial director Shobana Bhartia said, “The year started well for us although economic growth is still slow and there are mixed signals on account of global macroeconomic concerns. Our English dailies saw volume-led growth across markets. Hindustan maintained its upward growth trajectory, driven by our investments in both UP and Bihar. Our digital assets are increasingly gaining a foothold in their markets. The Radio business continues to be profitable and we aim to add to our portfolio of stations in Phase- III auctions. As the year progresses, we believe that we will continue on the growth path and deliver positive results even as the economic environment improves.”

     

    Click here for financial results

     

    Click here for earnings presentation

  • FY-2015: Sterling Holiday Resorts Sales Promo spend up 4.1%

    FY-2015: Sterling Holiday Resorts Sales Promo spend up 4.1%

    BENGALURU: Sterling Holiday Resorts (India) Limited (Sterling Holidays) reported Sales Promotion spend (Sales Promo) in FY-2015 (year ended 31 March, 2015) at Rs 17.16 crore (10.2 per cent of net sales), which was 4.1 per cent more than the Rs 16.48 crore (12.5 per cent of nets sales) in the previous year. Sales Promo spends in Q4-2015 (quarter ended 31 March, 2015) at Rs 5.71 crore (13.6 per cent of net sales) was more than double (2.6 times) the Rs 2.19 crore (eight per cent of net sales) in Q4-2014 and 26.9 per cent more than the Rs 4.5 crore (9.8 per cent of net sales) in the immediate trailing quarter.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    Please refer to Fig 1 below. During the 13 quarter period starting Q4-2012 until the current quarter, sales promo spends show a linear increasing trend in terms of absolute rupees as is indicated by the broken maroon trend line. However, in terms of percentage of net sales, the linear trend is reducing, as demonstrated by the broken green trend line. The company’s highest sales promo spends in terms of absolute rupees , whilas in the current quarter in terms of percentage of net sales was it in Q2-2013 at 21.7 per cent (Rs 5.10 crore) of net sales.

    Sterling Holidays net sales in FY-2015 at Rs 168.05 crore was 27.4 per cent more than the Rs 131.89 crore in FY-2014. The company’s net sales in Q4-2015 at Rs 42.1 crore was 13.4 per cent more than the Rs 37.11 crore in the corresponding year ago quarter, but was 7.8 per cent lower than the Rs 45.67 crore in Q3-2015. The company’s net sales show a linear increasing trend during the period under consideration as indicated by the black broken trend line. 

    Until the current financial year, Sterling Holidays has in general been a loss making company. Please refer to Fig 2 above. However, for FY-2015, the company has reported a profit after tax (PAT) of Rs 0.52 crore (0.3 per cent of net sales) as compared to a loss of Rs 21.29 crore in the previous year. For Q4-2015, the company has reported PAT of Rs 2.35 crore (5.6 per cent of net sales) as compared to a loss of Rs 5.78 crore in Q4-2014 and a PAT of Rs 0.82 crore (1.8 per cent of nets sales) in Q3-2015.

    Sterling Holidays managing director Ramesh Ramanathan said, “FY-2015 performance speaks for itself. As should the year-on-year improved performance metrics over the last 3 to 4 years. We have begun FY-2016 with a strong, confident note by opening four new resorts in one go at Corbett, Daman, Shirdi and Dindi. Sterling is now in a position to offer varying holiday experiences – from hillside to riverside to spiritual beach and wildlife in 24 resorts across India.”

    With effect from 3 September, 2014, Sterling Holidays has become a wholly owned subsidiary of Thomas Cook Insurances Services (India) Limited – (TCISL). As at 31 December, 2015, Thomas Cook (India) Limited through its subsidiaries hold 55.07 per cent of the equity shareholding of the company.