ITV

Tag: Financials

  • Resilient rural market drives HUL’s growth in Q1, net profit rises to Rs 2,100 cr

    Resilient rural market drives HUL’s growth in Q1, net profit rises to Rs 2,100 cr

    New Delhi: A resilient rural market, coupled with subsequent decline in Covid cases has infused growth in theFMCG major Hindustan Unilever Ltd (HUL) this quarter. The company reported a 10.7 per cent increase in its consolidated net profit for Q1 ended June, 2021.

    The FMCG major posted a net profit of Rs 2,100 crore in Q1 2021, compared to Rs 1,897 crore recorded in the April-June quarter of the previous fiscal. Net sales during the quarter under review stood at Rs 11,996 crore, up 13.49 per cent, as against Rs 10,570 crore in the corresponding period a year ago.

    HUL’s total expenses were at Rs 9,546 crore in the quarter under review, up 14.68 per cent from Rs 8,324 crore a year ago. The FMCG major delivered a strong performance with domestic consumer growth of 12 per cent, underlying volume growth of 9 per cent and profit after tax growth of 10 per cent, said the company in a statement.

    “In a challenging environment, we have delivered a strong performance across topline and bottomline. Our performance in the quarter has been resilient and is reflective of our capabilities, the agility in our operations and the intrinsic strength of our portfolio, “said HUL CMD Sanjiv Mehta.

    The number of Covid cases have come down June onwards, paving the way for FMCG industry’s growth and market levels to reach close to March 2021 levels. “The rebound that we have seen in the month of June and early July is led by rural. So, the good news is that rural is resilient, and it has started to come back, strongly ahead of urban,” HUL CFO Ritesh Tiwari while talking to the media virtually post Q1 results. “Rural has been a good engine for FMCG for the last few quarters, and it continues to be resilient. Hopefully, we see a good monsoon and this will augur well for the rural economy.”

    The company witnessed double-digit growth across all three divisions — Home Care, Beauty & Personal Care and Foods & Refreshment.

    Household care continued to perform well growing in high double-digits on a strong base. Liquids and Fabric Sensations also benefited from robust market development initiatives. HUL’s revenue from the home-care segment was up 11.94 per cent this quarter to Rs 3,797 crore, as against Rs 3,392 crore in the corresponding quarter in 2020.

    The company’s revenue from Beauty & Personal Care was up 13.41 per cent to Rs 4,585 crore, as against Rs 4,043 crore of the corresponding quarter. This was led by Hair Care and Skin Care, both growing in high double-digits, said HUL. “Contextual communications in Hair Care continue to yield good results. Skin Cleansing continued its strong momentum, soaps grew on a high base and the premium segment performed well. Hand Hygiene portfolio declined against an exceptionally high base,” it said in a statement.

    The Food & Refreshment segment was up 12.2 per cent to Rs 3,319 crore, as against Rs 2,958 crore in the corresponding period, helped by double-digit growth in segments as tea, ketchups, soups and nutrition business. According to HUL, all Tea brands also continued to grow in high double-digits despite a very strong base in the prior year.

    HUL said it is cautiously optimistic about future demand recovery.

  • Network18 posts net profit of Rs 121 cr in Q1′ 21

    Network18 posts net profit of Rs 121 cr in Q1′ 21

    New Delhi: Network18 Media & Investments Ltd reported a consolidated net profit of Rs 121.51 crore for the first quarter ended June 2021. The company had posted a net loss of Rs 60.60 crore for the April-June period of the previous fiscal.

    Consolidated revenue from operations rose 50.47 per cent to Rs 1,214.43 crore, as against Rs 807.07 crore in the corresponding quarter a year ago. The operating margin stood at 15.5 per cent, highest-ever in the first quarter, despite the impact of the second wave. News margin at 15 per cent, revenue up 17 per cent YoY, while digital News maintained its break-even; revenue rose 89 per cent YoY (up 44 per cent vs Q1FY20).

    Total expenses were at Rs 1,080.79 crore, up 23.99 per cent from Rs 871.65 crore earlier.

    TV News advertising remained resilient despite the second wave, led by a rise in news consumption and digital events replacing physical ones. News genre viewership jumped 28 per cent quarter-to-quarter led by the second wave and multiple state and elections. “The TV News ad-revenue remained in growth territory vs Q1FY20, adjusted for election-linked advertising, Digital News was minimally impacted by the second wave. Growing salience of the medium for advertisers as well as consumers (especially during COVID peaks) supported revenue,” said the company.

    Network18 Chairman Adil Zainulbhai said, “The second wave of COVID-19 could have been the dominant theme for the industry and indeed for us during the quarter…. but it wasn’t. We have been able to continue our businesses relentlessly and profitably. While advertising hit a speedbreaker (primarily in entertainment), growing engagement on our platforms across TV and Digital make us confident of delivering for all our stakeholders even amidst a choppy environment. We continue to invest to ramp up offerings on our class-leading digital platforms, as their reach expands to highest ever levels. At the same time, we are selectively creating segmented offerings to enhance our TV portfolio in a capital-efficient manner.”

  • GTPL Hathway records standalone net profit of Rs 30.5 cr in Q1 FY22

    GTPL Hathway records standalone net profit of Rs 30.5 cr in Q1 FY22

    New Delhi: Cable TV and broadband service provider GTPL Hathway Limited (GTPL) has clocked a standalone net profit of Rs 30.5 crore for the quarter ended 30 June.

    The net sales reached Rs 391.5 crore, improving from Rs 347.6 crore recorded in the same quarter last year. The consolidated net profit for the quarter stood at Rs 53 crore, up from Rs 46.4 crore in the corresponding quarter a year ago, while the consolidated revenues stood at Rs 602 crore. The overall revenues improved on the back of improvement in the EBITDA (including EPC) levels at Rs 138 crore, which was seven per cent higher year-on-year. The Q1 FY22 PAT stood at Rs 47.5 crore, up 16 per cent y-o-y.

    The company also reduced its debt burden by Rs 16.8 crore during the quarter. The finance cost was down 78 per cent y-o-y.

    GTPL added 55,000 net broadband subscribers in Q1 FY22 and the broadband revenue crossed Rs 91. 8 crore, up by 74 per cent YoY. The total number of subscribers as on 30 June were 6. 90 lakh of which 2.50 lakh are FTTX subscribers.

    Meanwhile, the company continues to widen its footprint in its existing markets and penetrate into new markets through inorganic routes. As on Q1 FY22, paying subscribers stood at 0.73 crore.

    GTPL Hathway, managing director, Anirudhsinh Jadeja said, “GTPL Hathway continued to deliver on key KPIs during Q1 FY22. The highlight of the quarter was robust subscriber additions & subscription revenues for Broadband business, strong profitability and debt repayment. GTPL has further reduced its debt by Rs 16.8 crore in Q1 FY22.”

    Jadeja said GTPL will continue to march forward on its stated strategic roadmap by coming up with interesting new products and services, enhancing customer experience, strengthening its digital infrastructure capabilities, and accelerating its footprint in the existing and new markets. 

  • PepsiCo’s snacks unit reports double-digit Q2 growth in India

    PepsiCo’s snacks unit reports double-digit Q2 growth in India

    New Delhi: Despite the severe impact of the second wave, global food and beverage major PepsiCo has reported double-digit growth in India in the second quarter for March-April-May.

    PepsiCo’s net revenue from the Africa, Middle East, South Asia (AMESA) division under which India falls, was at $1.6 billion in the quarter, up 62.97 per cent as against $0.98 billion in the corresponding period in 2020. Overall, the company’s global net revenue growth was up 20.52 per cent to $19.21 billion.

    In the AMESA division, PepsiCo’s snacks unit volume reported “double-digit growth in India and Pakistan and mid-single-digit growth in the Middle East, partially offset by a high-single-digit decline in South Africa,” said PepsiCo in an earning statement for Q2. “Beverage unit volume grew 38 per cent, primarily reflecting a four percentage-point impact of our Pioneer Foods acquisition and double-digit growth in India.”

    Additionally, the Middle East and Pakistan each experienced double-digit growth and Nigeria experienced mid-single-digit growth, it added. “The recovery from the pandemic contributed to a current-year increase in consumer demand, which had a positive impact on net revenue, unit volume and operating profit performance,” the US based company said, PTI reported.

     “As mobility trends improved, our international beverage business accelerated and delivered 22 per cent organic revenue growth, while our international snack business delivered 11 per cent organic revenue growth,” said PepsiCo.

    Over the outlook, the company is expecting its international markets to perform well despite an uneven recovery across geographies as vaccination efforts and mobility trends vary.

  • Pandemic drags down DishTV India’s FY’21 financials

    MUMBAI: India’s first DTH operator Dish TV India continues to slog it out to get out of the financial quagmire it has got itself into. That’s despite the fact that the company  has seen a loss of subscribers in its latest quarter ended 31 March 2021 and for the full year, its top line has dipped even as it continues to report losses. According to its audited Q4 FY 21 results released yesterday, Dish TV India  has reported consolidated subscription revenues of Rs  685.2 crore (Rs 776.6 crore in Q4 FY’20) and operating revenues of Rs  751.7 crore (Rs 869.06 crore). EBITDA for the quarter was Rs 426 crore (Rs 543.2 crore). Net loss was Rs 1415.3 crore as against a loss of Rs 1456.2 crore  in the same quarter last year.

    Subscription revenues for the whole year have fallen from Rs 3192.8 crore in FY ’20 to Rs 2987.4 crore in FY’21, even  as operating revenues saw a reduction to Rs 3249.4 crore as against Rs 3556.3 crore in FY20.  EBITDA for the full year fell to Rs 2017 crore as against Rs 2106 crore in FY’20. However, to its credit, it has reduced the red ink on its bottomline to Rs 1189.9 crore as against Rs 1654.8 crore in the previous financial year.

    What helped it shore up its performance in the latest financial year is its hard focus on shaving expenditure which it has reduced by 15 per cent to Rs 1232.4 crore as against Rs 1450.4 crore in FY ’20.  

    Dish TV management said the company has been hit by the sporadic lockdowns due to the ongoing pandemic during the year and the last quarter. “The later part of the fourth quarter saw re-emergence of urban to rural migration, amongst migrant workers. The sporadic lockdowns have left many in the aspiring class with reduced disposable incomes while taking a toll on overall consumer confidence. Subscriber churn, thus remained on the higher side during the quarter and full year,” said Dish TV India group CEO Anil Dua in a press release.

    Additionally, the company largely relied on internal cash flows for capital expenditure and for debt reduction. Hence, it kept a tight rein on capital expenditure which in turn limited new subscriber additions, and when compounded with high subscriber churn, it  led to a net reduction in its subscriber base.

    Overall, Dish TV repaid Rs 213 crore of its debt in the quarter, reducing its loan  exposure to Rs 809.9 crore at end FY’21 as against  Rs 1817.5 crore at end FY20.  

    Said Dish TV chairman & managing director Jawahar Goel: “The year gone by was difficult but has left us stronger with all the innovations and process improvements in place. However, with continuing uncertainties, we maintain a cautious stand. A strong balance sheet boosts confidence in such tough times and our focus on paying down debt and other liabilities is in that direction only.”

    Dua said that investors need to take heart about the positive manner in which Dish TV has pivoted to take advantage of the opportunities that the pandemic has thrown up. “Effectively, the pandemic rushed the need to innovate. Be it artificial intelligence for resolving customer complaints, enabling work-from home for customer care agents and employees, developing set-top-boxes and other key accessories in India, moving trade partners to a fully digital recharge mode or upgrading our OTT platform, Watcho, we rose to the challenges thrown by the trying year while touching new highs in EBITDA margins.”

    What according to the two of them shows promise is the growth in sign-ons to DishTV’s OTT service Watcho to 25 million by FY 21 year end as against just a million users in January 2020.  Said Dua: “At Dish TV India, it has always been our endeavor to meet the entertainment needs of all our subscribers all the time. Watcho is a step in that direction and delivers a seamless, streaming entertainment experience to viewers through future ready technology and diverse content.”

    Dua is quite optimistic about the company’s fortunes pointing to the important role TV continues to play in viewers lives in India, and believes that a revival in discretionary spending, due to economic activity normalizing going forward, will improve business revenues. The company is going ahead with the procedures relating to raising funds through a rights issue totting up to Rs 1,000 crore.

  • DB Corp q4 PAT grows by 158 %, circulation revenue dips

    New Delhi: Print media company, DB Corp Limited (DBCL), which is home to flagship newspapers – Dainik Bhaskar, Divya Bhaskar, Divya Marathi and Saurashtra Samachar has announced its financial results for the quarter ended 31 March, 2021.

    Despite the strong pandemic led headwinds, the company said its carefully calibrated editorial, circulation and ad revenue strategies continued to help it outperform the industry performance in both circulation as well as ad revenue fronts.

    The consolidated profit after tax (PAT) for Q4FY21 grew by 158 per cent YOY at Rs. 619 million as against Rs. 241 million. For Q4, the advertising revenue for Q4 stood at Rs. 3084 million as against Rs. 3303 million, while the circulation revenue stood at Rs. 1104 million as against Rs. 1200 million.

    The continued efforts of the circulation teams have yielded results with the Group managing to salvage a challenging year. “The on-ground calibrations done by local teams have helped Dainik Bhaskar achieve almost 95 per cent of pre-Covid levels in select cities and towns. The recoveries have been significant in the key states of Madhya Pradesh, Rajasthan, Gujarat,” it said on Thursday.

    The financials results showed that the circulation revenue of the company for FY21 dropped to Rs. 4146 million as against Rs. 5122 million in FY20, while the advertising revenue stood at Rs. 10,084 million as against Rs. 15,640 million.

    The total revenue came in at Rs. 15222 million as against Rs. 22363 million the previous fiscal. The EBITDA stood at Rs. 3193 million as against Rs. 4940 million and PAT stood at Rs. 1414 million as against Rs. 2750 million.

    “The unprecedented year has reaffirmed the changing dynamics of the Print Industry,” said DB Corp Ltd, managing director, Sudhir Agarwal. “The Indian language newspapers performed significantly better than our English counterparts and outstripped them not only in circulation numbers, but in advertising revenues as well. We are happy to reiterate that the un-metro path chosen by our founder and solidified by the company over the past few years is continuing to fructify. Our digital efforts are also beginning to see traction and we are confident that we will continue to deliver quality journalism through all mediums. The local content has further strengthened the franchise.”

    On the advertising front, the Group published over 20 ‘Mega Editions’ across its major markets, despite challenging fiscal, re-affirming its strategy of operating in the Tier-II, Tier-III cities and beyond. 

  • Sun TV clocks net profit growth of 11 %

    New Delhi: Television broadcast major Sun TV Network Ltd on Friday said it closed last fiscal with 11 per cent growth net profit of about Rs 1,520.41 crore on reduced revenue.

    The company recorded a net profit of about Rs 1,520.41 crore last fiscal up from a net profit of about Rs 1,371.83 crore  in FY20.

    While the advertisement revenue dropped for the year, the network recorded significant gain on subscriptions. According to the company, the total advertising revenue for the year stood at Rs 994.03 crore, compared to Rs 1336.01 crore in the previous year ended 31 March 2020.

    However, the subscription revenues for the year were up about 10 per cent and stood at about Rs 1,721.48 crore, as against about Rs 1,562.23 crore for the previous year ended 31 March, 2020.

    According to the company, the total revenue was about Rs 3,388.03 crore last year, down from Rs 3,653.35 crore earned in FY20.

  • Paytm shrinks loss to Rs 1,704 cr in FY21

    New Delhi: Digital payments firm Paytm has reported narrowing of its loss for the second consecutive fiscal year. According to its annual report, the company has reduced its consolidated loss from Rs 2,943.32 crore loss in 2019-20 to Rs 1,704 crore for 2020-21.

    The total revenue of the company has decreased about 10 per cent to Rs 3,186 crore in 2020-21 compared to Rs 3,540.77 crore in the previous year. Expenses have come down 22 per cent to Rs 4,782.95 crore, largely because of the cut down on marketing and promotional expenses.

    According to the company spokesperson, despite a significant disruption in the business of the merchant partners due to the ongoing pandemic especially in the first half of the year, “the company has had a minimal impact on revenues, due to strong recovery in the second half of the year.”

    “As Covid-19 continues to spread across the globe and India, it has had an impact on all local and global economic activities. The company has considered the possible effects that may result from COVID-19, on the carrying amount of the receivables, investments, goodwill etc,” the report said.

  • ITC records Q4 net profit of Rs 3,817 cr

    ITC records Q4 net profit of Rs 3,817 cr

    New Delhi: ITC Ltd on Tuesday reported a consolidated net profit of Rs 3,816.84 crore for the fourth quarter ended March 2021.

    The cigarette-FMCG-to-hotel major had posted a net profit of Rs 3,926.46 crore during the January-March quarter of the previous fiscal, according to the regulatory filing. The revenue from operations rose to Rs 15,404.37 crore during the quarter under review. It was Rs 12,560.64 crore in the corresponding period of 2019-20.

    However, ITC said its results for this quarter are not comparable with the earlier period as it also includes the revenue of Sunrise Foods, which it had acquired on 27 July last year. “The financial results of the group and ‘FMCG Others’ of the quarter and the financial year ended on 31 March 2021 include those of Sunrise from 27 July 2020 and consequently are not comparable with previous periods,” it said in the filing.

    The total expenses of ITC stood at Rs 10,944.64 crore in Q4 FY 2020-21.

    The sale of cigarettes recorded significant improvement during the quarter under review, while the ITC hotel business was severely impacted by the pandemic. Revenue from its cigarette business rose nearly 14.2 per cent to ₹5,859 crore for March quarter, compared with ₹5,130 crore in the corresponding period. On the other hand, the revenue from the hotel business reported a 38 per cent year-on-year decline to ₹287.77 crore in Q4FY21. Revenue of the remaining FMCG business fell 1.5 per cent to Rs 3,694.8 crore.

    For the full fiscal year 2020-21, ITC’s net profit was at Rs 13,389.80 crore, with a net profit of Rs 15,584.56 crore in FY20. Revenue from operations came in at Rs 53,155.12 crore, compared to Rs 51,393.47 crore in 2019-20.

  • Nazara Technologies notches up good financial scores in Q4

    Nazara Technologies notches up good financial scores in Q4

    Mumbai: If you are a gamer, you will know that at times, it looks like you are lagging far behind, with most of your shooters gone. But things turn around and you start scoring, knocking out the rival’s gunmen, and you come out on top. Just like recently, the publicly listed Nazara Technologies has done. The Indian gaming and esports major has reported operating revenue of Rs 123.38 crore in q4, 41.7 per cent higher than the previous year’s corresponding quarter.

    The company has erased all the red ink on its earnings report by notching up growth of 84 per cent year-on-year in profit to reach Rs 4.2 crore, as against a loss of Rs 7 crore (q4 last year).

    “As we operate in the high growth business segments of gamified early learning, esports, and freemium, we continue to prioritise growth over profit maximisation, to achieve and maintain market leadership in the segments we operate in,” said an excited Nazara Technologies group chief executive officer Manish Agarwal.

    The esports segment revenue ballooned to Rs 48.57 crore from Rs 39.77 crore in the same quarter last year. Gamified early learning nearly trebled to reach Rs 50.61 crore, compared to Rs 19.52 crore. However, revenue for the freemium segment declined to Rs 4.32 crore from Rs 4.03 crore. Telco subscription also marginally declined to Rs 17.83 crore from Rs 18.08 crore for the corresponding period in the last fiscal.

    “Prudent financial management is in our DNA. This is clearly visible from the Rs 4,784 million (Rs 478.4 crore) in cash reserves, including liquid investments, as well as the zero debt on our balance sheet. We will efficiently utilise our cash balance to fund any inorganic growth opportunities- ranging from building capabilities to geographic and demographic expansions in our operational domain. To conclude, we are in a good position to continue executing our strategy and maintain our market leadership position in the years to come,” Agarwal added.

    For the financial year 2020-2021, operating revenue grew 84 per cent year-on-year to Rs 454.2 crore. While EBITDA has gone up by 508 per cent year-on-year to Rs 59.6 crore, EBITDA margins have also improved from 3.7 per cent in FY2019-2020 to 12.7 per cent. It has delivered profits of Rs 13.6 crore in the just-ended fiscal year.