ITV

Tag: Financials

  • Q2-2016: Eros revenue more than doubles; PAT up 80%

    Q2-2016: Eros revenue more than doubles; PAT up 80%

    BENGALURU: The Sunil Lulla led Eros International Media Limited (Eros) reported more than double the revenue (Consolidated Total Income from Operations or TIO) for the quarter ended 30 September, 2015 (Q2-2016, current quarter). TIO in the current quarter increased 110.5 per cent YoY to Rs 504.91 crore from Rs 239.90 crore and increased 6.9 per cent QoQ (quarter-on-quarter) from Rs 472.48 crore.

     

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

    All numbers in this are consolidated unless stated otherwise.

     

    Profit after tax (PAT) in the current quarter increased 80.1 per cent to Rs 90.30 crore (17.9 per cent margin) as compared to the Rs 50.14 crore (20.9 per cent margin) in Q2-2015 and increased 69.3 per cent from Rs 53.35 crore (11.3 per cent margin) in the immediate trailing quarter.

     

    The company is its earnings presentation says that it has already collected Rs 75.76 crore of receivables between 1 October and 7 November, 2015. Eros says that as on 30 September, 2015, its total receivables stood at Rs 629.96 crore as compared to Rs 524.74 crore six months ago on 31 March, 2015. The company plans to bring this figure down to Rs 525 crore by the end of the current fiscal. Receivables over 365 days stood at Rs 34.7 crore.

     

    Further, Eros’ days sales outstanding (DSO) improved to 119 days compared to 133 days on 31 March, 2015. This includes TechZone’s debtors, which have higher DSO due to delayed payments from telecom operators.

     

    Eros International Plc Group CEO Jyoti Deshpande said, “In spite of our strong business fundamentals and material changes since our March and June results, both of which were positive, we recently became a target of an anonymous attack resulting in great volatility of our stock price. We have already responded in detail to this attack. We expect to follow the strong growth and profitability showcased in our Indian subsidiary results with positive results for Eros International soon after these results.”

     

    Lulla said, ”We are pleased announce a continued strong performance in the second quarter backed by multiple record breaker Bajrangi Bhaijaan starring Salman Khan that became one of the biggest movie in Bollywood history, laugh riot Welcome Back and Mahesh Babu starrer Telugu film Srimanthudu that registered brilliant box office performances.”

     

    “The core building blocks of business strategy continues to be to having a balanced portfolio of films, strong presales, and healthy catalogue monetisation that leads to a high degree of predictability to our business,” he added. 

     

    “In this quarter, we are excited to release the much anticipated Sanjay Leela Bhansali’s magnum opus Bajirao Mastani to light up your holiday season and the remainder of the fiscal has a string of high profile movies that include Tamil film, Surya’s 24; Telugu films Dictator and Pawan Kalyan’s Sardar and the much travelled film festival favourite Aligarh. We have also picked up momentum in the regional markets with releases lined up in Punjabi, Marathi, Bengali and Malayalam,” Lulla further informed.

     

     

    Revenue breakup

     

    The company says that growth in revenues was driven by a strong portfolio of films supported by a healthy contribution from theatrical, overseas, satellite and ‘others’.

     

    Eros breakup of revenue for Q2-2016: Theatrical Revenue – 59.1 per cent; Overseas Revenue – 11.8 per cent; Television and others 29.1 per cent.

     

    Release Mix

     

    Portfolio by Product

     

    Eros released a total of 20 films in Q2-2016 as compared to 21 in the corresponding year ago quarter. The mix in the current quarter comprised three each of high and medium budget films, and 14 low budget films as compared to one high budget, three medium budget and 17 low budget films in Q2-2015.

     

    Portfolio by Language

     

    In terms of language, Eros released 16 Hindi, three Tamil/Telugu and one other language films in the current quarter as compared to 15 Hindi and six Tamil/Telugu films in Q2-2015.

     

    In line with Eros’s de-risking strategy, the company says that it registered strong pre-sales from theatrical, satellite and music rights exploitation for various movies released during the quarter.

     

    Let us look at the other numbers reported by Eros:

     

    Total Expenditure in the current quarter also more than doubled (went up 2.2 times) YoY to Rs 370.97 crore (73.5 per cent of TIO) as compared to Rs 168.19 (70.1 per cent of TIO), but declined 3.5 per cent QoQ from Rs 384.32 crore (81.3 per cent of TIO) in the immediate trailing quarter.

     

    Eros says that direct costs in the current quarter mainly increased because of increase in marketing costs due the mix of films comprised more high and medium budget films, increased amortisation charge as well overflows accrued to co-producers as a result of high performance of films.

     

    The company’s EBIT (Earnings before Interest and Taxes) increased 92.8 per cent YoY to Rs 139.01 crore (27.5 per cent margin from Rs 73.79 crore (30.7 per cent margin) and increased 44.4 per cent QoQ from Rs 96.27 crore (20.4 per cent margin).

     

    Employee Benefits Expense (EBE) in the current quarter increased 112.6 per cent YoY to Rs 14.29 crore (2.8 per cent of TIO) from Rs 6.72 crore (2.8 per cent of TIO) and increased 31.2 per cent QoQ from Rs 10.89 crore (2.3 per cent of TIO).

  • Q1-16: Prime Focus YoY revenue up 28.1 percent

    Q1-16: Prime Focus YoY revenue up 28.1 percent

    BENGALURU: Prime Focus Limited (PFL) has reported a 28.1 percent YoY revenue growth for the quarter ending September 30, 2015 (Q1-2016, current quarter) at Rs 448.57 crore as compared to the Rs 350.17 crore in Q1-2015. However, QoQ, the company’s revenue declined 13.4 percent from Rs 518.21 crore.

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

    (2) The company had filed results for a fifteen month period ended June 30, 2014, hence YoY comparison is being done between Q1-2016 and Q1-2015 and QoQ comparison is between Q1-2016 and  Q4-2015 (quarter ended June, 2015).

    The company’s quarterly bottom line has been negatively affected due to significant exceptional costs primarily in relation to previously announced divestiture of PFL PLC and planned restructuring / integration costs in relation to the merger with Double Negative. In Q1-2016, this amounted to Rs 12.26 crore, in Q4-2015 it was 159.29 crore and in Q1-2015 this figure was Rs 34.27 crore.

    The company reported a net loss of Rs 22.51 crore in Q1-2016; a loss of Rs 22.01 crore in Q1-2015 and a loss of Rs 213.76 crore in the immediate trailing quarter Q4-2015.

    The company’s simple EBIDTA for Q1-2016 at Rs 52.07 crore (11.6 percent margin) more than quadrupled (4.7 times) YoY from Rs 11.19 crore (3.2 percent margin, but declined 39.6 percent from Rs 86.17 crore (16.6 percent margin) in Q4-2015.

    Let us look at the other numbers reported by PFL

    Figures A and B below show PFL’s major expense heads. As is obvious, a major expense head for the company is employee benefit expense or EBE.

    PFL’s EBE in Q1-2016 at Rs 282.57 crore (61.6 percent of TIO) increased 21.4 percent YoY from Rs 232.77 crore (60.4 percent of TIO) and increased 7.4 percent QoQ from Q4-2015 at Rs 263.11 crore (50.8 percent of TIO).

    Technician’s Fees in the current quarter increased 53.8 percent YoY to Rs 9.77 crore (2.2 percent of TIO) from Rs 6.35 crore (1.8 percent of TIO) and increased 6.1 percent QoQ from Rs 9.21 crore (1.8 percent of TIO)

    Fig B indicates that EBE also shows a linear upward trend in terms of percentage of TIO over the eleven quarters starting Q4-2013 until the current quarter Q1-2016.  EBE has been the highest in Q1-2016 (61.6 percent) in terms of absolute rupees, but in terms of percentage of TIO, it was highest in Q3-2015 at 64 percent

    Finance and Interest costs in Q1-2016 at Rs 17.75 crore (4 percent of TIO) increased 12 percent YoY from Rs 15.84 crore (4.5 percent of TIO), but declined 30.1 percent QoQ from Rs 25.39 crore (4.9 percent of TIO).

  • Q1-2016: Siti Cable broadband revenue up 64%; Operating income up 9%

    Q1-2016: Siti Cable broadband revenue up 64%; Operating income up 9%

    BENGALURU: Subhash Chandra led Essel Group’s Siti Cable Network Limited (Siti Cable) reported operating revenue (total income from operations, or TIO) of Rs 228.09 crore in the quarter ended 30 June, 2015 (Q1-2016), which was 9.1 per cent higher than the Rs 209.02 crore in Q1-2015, but was 10.9 per cent lower QoQ than the Rs 256.01 crore in Q4-2015.

     

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

    (2) All numbers in this report are consolidated unless stated otherwise.

     

    Both television and broadband subscription revenue registered YoY growth, broadband reported 63.6 per cent growth at Rs 9 crore in Q1-2016 as compared to the Rs 5.5 crore in the corresponding year ago quarter and was 13.9 per cent more than the Rs 7.9 crore in the immediate trailing quarter.

     

    Subscription revenue in Q1-2016 at Rs 129 crore was 9.1 per cent higher than the Rs 118.2 crore in Q1-2015, but declined 9.4 per cent as compared to the Rs 142.4 crore in Q4-2015. Activation revenue at Rs 10.9 crore in the current quarter was 25.3 per cent lower than the Rs 14.6 crore in Q1-2015 and was 48.3 per cent lower than the Rs 21.1 crore in Q4-2015. Siti Cable says that effective realisation per subscriber remained flat during the current period.

     

    Siti Cable’s cable universe increased by 200,000 digital subscribers to 107 lakh in Q1-2016 from 105 lakh in Q4-2015. Digital subscriber base increased in the current quarter to 55.8 lakh from 53.8 lakh in Q4-2015. Net broadband additions in the current quarter were 4400 – the count went up to 74,500 from 70,100 in the previous quarter (Q4-2015).

     

    Let us look at the other numbers reported by Siti Cable

     

    Siti Cable reported a higher loss of Rs 37.11 crore in Q1-2016 as compared to the loss of Rs 31.67 crore in Q1-2015 and a loss of Rs 34.13 crore in Q4-2015.

     

    EBIDTA including other income for Q1-2016 increased 5.1 per cent to Rs 38.1 crore as compared to the Rs 36.26 crore in Q1-2015 and was 18.7 per cent more than the Rs 32.11 crore in Q4-2015.

     

    Total Expenditure in Q1-2016 increased 12 per cent to Rs 228.21 crore (100.1 per cent of TIO) as compared to the Rs 203.76 crore (97.5 per cent of TIO) in Q1-2015, but was 18.6 per cent lower than the Rs 280.49 crore (109.6 per cent of TIO) in the previous quarter.

     

    Pay channel costs in the current quarter increased 8.1 per cent to Rs 135.70 crore as compared to the Rs 125.55 crore in Q1-2015 but was 13.6 per cent lower than the Rs 156.98 crore in Q4-2015.

     

    Siti Cable’s Finance costs in Q1-2016 increased 11.6 per cent to Rs 33.90 crore as compared to the Rs 30.37 crore in Q1-2015 and were 9.2 per cent more than the Rs 31.05 crore in Q4-2015.

     

    Other expenses increased 13.9 per cent in the current quarter to Rs 43.32 crore as compared to the Rs 38.05 crore in Q1-2015 but were 40.3 per cent lower than the Rs 72.53 crore in Q4-2015.

     

    “Our commitment to improving operational efficiency and streamlining operations continues, leading to EBITDA growth of 18.7 per cent and Margin expansion by 501 bps QoQ,” said Siti Cable executive director and CEO VD Wadhwa.

     

    “We managed to grow our Broadband revenues by 13.4 per cent QoQ and are on track to expand our Broadband operations in new cities. Delays in content availability held back STB seeding, however we are well poised to expand aggressively this quarter. During the quarter we have further tightened our credit control measures and started taking strict actions against defaulting operators, which shall result into improved credit discipline and saving in operating cost,” added Wadhwa.

  • DreamWorks Animation loses $38.6 million in Q2 due to restructuring

    DreamWorks Animation loses $38.6 million in Q2 due to restructuring

    MUMBAI: Including the impact of the restructuring plan, DreamWorks Animation SKG, Inc reported net loss attributable of $38.6 million, or $0.45 per share for the quarter ended 30 June, 2015. The company’s operating loss stood at $21.8 million.

     

    DreamWorks Animation’s revenues for the quarter ended 30 June, 2015 at $170.8 million, were up 39.7 per cent from the same period in 2014. In addition, the company reported an adjusted operating loss of $1 million and adjusted net loss attributable to DWA of $11.6 million.

     

    Adjusted financial results exclude a $20.9 million pre-tax charge associated with company’s restructuring plan announced in January 2015.

     

    Of the restructuring-related charges totaling $20.9 million or a loss of $2.4 million was due to employee termination and other employee-related costs, $10.9 million was related to accelerated depreciation and amortization charges associated with the closure of its Redwood City facility, and $7.6 million was primarily related to excess staffing and other costs associated with previously announced changes in the feature film slate.

     

    “Our second quarter financial results were solid, highlighted by the theatrical success of Home and the rapid expansion of our Television and New Media businesses. The appetite for premium content across platforms continues to grow both domestically and internationally, and it’s clear DreamWorks Animation is well-positioned to capitalize on the growing demand,” said DreamWorks Animation CEO Jeffrey Katzenberg.

     

    Home, which was released theatrically on 27 March, 2015 has reached $177 million at the US box office and $207 million at the international box office to date. 

     

    Second Quarter Review:

     

    DreamWorks Animation’s second quarter revenues of $170.8 million increased 39.7 per cent versus the prior-year period primarily driven by the performance of the feature film, television series and specials and new media segments.

     

    Television Segment

     

    Revenues for the quarter ended 30 June, 2015 from the Television series and specials segment increased to $54.5 million, compared to $20 million during the prior-year period. The increase in revenues was attributable to a significantly higher number of episodes delivered under episodic content licensing arrangements.

     

    Segment gross profit increased to $19.2 million in the current quarter, from $1.2 million in the same period of the prior year. The increase was primarily driven by favorable amortization rates associated with episodic series, partially offset by higher up-front marketing costs associated with the release of its new television series.

     

    In addition, for the three months ended 30 June, 2014 segment gross profit was negatively impacted by higher than expected returns of seasonal and newly-released home entertainment product, as well as increased selling costs, related to the company’s Classic Media properties.

     

    Film Segment

     

    Revenues for the quarter ended 30 June, 2015 from the Feature Film segment increased to $87.8 million, up from $69.7 million in the prior-year period. Segment gross profit also increased to $31.7 million compared to $23.9 million in the same period last year.

     

    In the quarter, Home contributed revenue of $23.9 million, The Penguins of Madagascar contributed $8.3 million, How to Train Your Dragon 2 contributed $17.9 million, Mr. Peabody and Sherman contributed $8.4 million and Turbo contributed $1 million.

     

    Library titles contributed feature film revenue of $28.3 million to the quarter.

     

    Consumer Products Segment

     

    Revenues from the Consumer Products segment decreased to $12.7 million in the second quarter, compared to $18.5 million in the same period last year. The prior year period benefitted from merchandise and licensing revenue associated with How to Train Your Dragon 2, which was released theatrically in June 2014. Segment revenues in the current quarter were primarily generated by licensing arrangements related to a variety of intellectual property rights associated with the characters from films.

     

    Segment gross profit decreased to $1.8 million from $7.3 million in the prior year period, largely due to higher costs incurred across a variety of segment activities.

     

    New Media Segment

     

    Revenues for the quarter ended 30 June, 2015 from the company’s New Media segment were $14.6 million compared to $11.5 million during the three months ended 30 June, 2014. This increase was primarily attributable to revenue generated under new licensing agreements and the delivery of newly-created content versus the prior-year period.

     

    Segment gross profit increased to $7.5 million from $2.5 million in the prior-year period, primarily due to higher revenue contributions from newly licensed content. 

  • Q1-2016: DB Corp y-o-y revenue down 3.2%; My FM revenue up 3.7%

    Q1-2016: DB Corp y-o-y revenue down 3.2%; My FM revenue up 3.7%

    BENGALURU: DB Corp Limited (DB Corp), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar, reported a 3.2 per cent fall in Total Income from Operations (TIO) to Rs 473.36 crore in the quarter ended 31 June, 2015 (Q1-2016, current quarter) from Rs 489.20 crore in Q1-2015 and 2.5 per cent fall from the Rs 485.60 crore in Q4-2015 on the back of lower advertising revenue.

     

    The company’s radio segment under the brand My FM reported a 3.7 per cent growth in operating revenue to Rs 21.50 crore (4.5 per cent of TIO) in Q1-2016 from Rs 20.73 crore (4.2 per cent of TIO) in Q1-2015, but 19.4 per cent lower than the Rs 26.68 crore (4.2 per cent of TIO) in the immediate trailing quarter. Operating results from the company’s radio segment dropped sharply and have been mentioned later in this report.

     

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

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

     

    Advertising and Circulation revenue

    The company says that print advertising revenues declined by eight per cent in Q1-2016 to Rs 342.30 crore as against Rs 373 crore, due to base effect of election revenue in Q1-2015 along with focus on high yield growth. Ad revenue in Q1-2016 was 7.3 per cent more than the Rs 319.10 crore in Q4-2015.

     

    Circulation revenue increased by 16 per cent in the current quarter to Rs 102.20 crore from Rs 88.50 crore primarily due to yield driven growth says the company. Circulation revenue increased 21.8 per cent as compared to the Rs 83.9 crore in Q4-2015.

     

    Company speak

     

    DB Corp managing director Sudhir Agarwal said, “Through this quarter, we continued our efforts to consolidate our positions across our all markets with a key focus on continuing to implement our strategy of yield increase, which was undertaken last quarter with an aim to monetize better yield growth, as we progress towards achieving our ambitious long term growth plans and goals. We took some important strategic steps to strengthen the foundations of our business over the last few years which continue to hold us in good stead and Bhaskar is working fiercely in an environment that continues to demand aggressive marketing efforts across all regions with our presence. In an environment that continues to be challenging, we are confident of our current strategies and business fundamentals that are directed towards enterprise growth while ensuring that we continue to operate efficiently and in a calibrated manner for the future. Our operating efficiencies continue to be validated while we also continue to benefit from softened newsprint prices. Several market expansion initiatives are underway and we look forward to completing our Bihar foray within the next few month. As the government continues with its efforts and initiatives to boost economic growth, we remain confident of our operating strengths and highly differentiated business approach that positions us very well to capitalize on better opportunities, as we move ahead.”

     

    Let us look at the other results reported by DB Corp 

     

    DB Corp reported 16 per cent lower PAT (Profit after Tax) at Rs 66.46 crore in Q1-2016 as compared to the PAT of Rs 79.13 crore in Q1-2015 and 3.8 per cent more than the PAT of Rs 64 crore in Q4-2015.

     

    The company’s total expenditure (TE) in Q1-2016 at Rs 373.20 crore was 0.7 per cent lower than the Rs 374.99 crore in Q1-2015 and 4.7 per cent lower than the Rs 390.74 crore in Q4-2015.

     

    Raw material consumption (RMC) in Q1-2016 at Rs 144.74 crore was 12.7 per cent lower than the Rs 165.88 crore in Q1-2015 and was 4.6 per cent lower than the Rs 151.7 crore Q4-2015. 

     

    Segment Revenue 

     

    The company reports revenue from five segments: Printing and publishing of newspaper and periodicals (Printing segment); Radio segment; Events; Internet; and power. Two of the segments are major contributors to the revenue – printing and radio and numbers have been considered here.

     

    Printing segment revenue at Rs 440.19 crore in Q1-2016 was 4.5 per cent lower than the Rs 461.07 crore in corresponding quarter of the previous year and was 1.8 per cent lower than the Rs 448.41 crore in Q4-2015.

     

    Printing segment reported operating result of Rs 108.56 crore in Q1-20165, which was eight per cent lower than the Rs 117.95 crore in Q1-2015 but was 3.3 per cent lower than the Rs 112.21 crore in the immediate trailing quarter.

     

    The company’s radio segment (My FM) revenue has been mentioned above. My FM reported a 22.5 per cent drop in operating profit to Rs 4.08 crore in Q1-2016 as compared to the Rs 5.27 crore in Q1-2015 and a massive 59 per cent lower (less than half) than the Rs 9.95 crore in Q4-2015.

  • FY-2105: Dish TV in black; adds 1.5 million subscribers

    FY-2105: Dish TV in black; adds 1.5 million subscribers

    BENGALURU: Last quarter (Q3-2015, quarter ended 31 December, 2015), India’s largest DTH operator, Dish TV Limited had reported a lower loss at just Rs 2.87 crore as compared to double-digit crore loss numbers in the previous or like-to-like quarters.

     

    However that is now a thing of the past as the company has reported a standalone net profit after tax (PAT) of Rs 35.01 crore in Q4-2015 and a standalone PAT of Rs 1.01 crore in FY-2015 as compared to a standalone loss of Rs 154.21 crore in FY-2014.

     

    This probably makes Dish TV the first among listed DTH companies in the country to report a profit after tax as opposed to the operating profits reported by a segment of the other goliaths for whom DTH services is just another small segment. Dish TV’s consolidated PAT for FY-2015 was Rs 3.14 crore as against a consolidated loss of Rs 157.61 crore in FY-2104.

     

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

     

    The company also added 1.5 million net subscribers in FY-2015 and closed the year with a subscriber base of 12.9 million. With the addition of 4.04 lakh subscribers in Q4-2015, Dish TV maintained the tempo it had set in the previous quarter (Q3-2105) by adding a slightly higher number of subscribers at 4.16 lakhs.

     

    Dish TV also reported higher average revenue per user (ARPU) of Rs 179 in Q4-2014 as against Rs 177 in Q3-2015 (1.13 per cent increase in ARPU). In Q4-2014, the company had added 2.26 lakh net subscribers and its annual ARPU was Rs 170 (Q4-2105 ARPU increased 5.3 per cent as compared to Q4-2014).

     

    Dish TV chairman Subhash Chandra said, “The DTH sector is a direct beneficiary of a positive consumer sentiment. Dish TV achieved a strong, sector leading, subscriber growth of 1.5 million net subscribers during the year. Fiscal 2015 also saw Dish TV swing to net profit, a first for any DTH company in India. Through this milestone to the next and thereafter, Dish TV remains committed to outperform the industry growth rate and create shareholder value while continuing to entertain its subscribers with rich content and compelling value added services using updated modes of delivery.”

     

    Dish TV managing director Jawahar Goel added, “During the quarter, we garnered net subscribers that were almost equal to the numbers during the festival quarter of October – December 2014. While Zing gained ground in Phase 3 and 4 markets, high definition (HD) driven sports offerings were the mainstay, in Rest of India, during the Cricket World Cup 2015.”

     

    Let us look at the other numbers reported by Dish TV:

     

    Dish TV’s standalone and consolidated net Total Income from Operations (TIO) in FY-2016 at Rs 2781.64 crore was 10.9 per cent more than the Rs 2508.97 crore in FY-2014. Standalone TIO in Q4-

     

    2015 at Rs 754.72 crore grew 18.5 per cent as compared to the Rs 636.91 crore in the corresponding year ago quarter and was 10.3 per cent more than the Rs 684.26 crore in Q3-2015.

     

    As mentioned above, net profit for Q4-2015 was Rs 35.01 crore as against a loss of Rs 149.05 crore in Q4-2014 and a loss of Rs 2.87 crore in the immediate trailing quarter.

     

    The company’s EBIDTA in FY-2015 increased 17.5 per cent to Rs 733.1 crore as compared to the Rs 624 crore in FY-2014. EBIDTA in Q4-2015 at Rs 221.9 crore was a whopping 72.1 per cent more than the Rs 128.9 crore in Q4-2014 and 16.1 per cent more than the Rs 191.2 crore in the preceding quarter.

     

    The company’s total expenditure (TE) in FY-2015 increased 8.7 per cent to Rs 2048.5 crore as compared to the Rs 1884.9 crore in the previous year. TE in the current quarter increased 4.9 per cent to Rs 532.8 crore as compared to the Rs 508 crore in the corresponding year ago quarter and was 1.9 per cent more than the Rs 522.7 crore in Q3-2015.

     

    Programming, content/other costs (programming) in FY-2015 increased 2.9 per cent to Rs 800.75 crore from Rs 778.44 crore in FY-2014. Programming cost in Q4-2015 at Rs 207.63 crore was three per cent more than the Rs 201.57 crore in Q4-2014 and 4.4 per cent more than the Rs 1988.86 crore in Q3-2015.

     

    License Fees in FY-2015 increased 10.5 per cent to Rs 288.83 crore from Rs 261.38 crore in the previous year. Dish TV paid 16.7 per cent higher license fees in Q4-2015 at Rs 78.17 crore as compared to the Rs 66.98 crore in Q4-2014 and 5.1 per cent more than the Rs 74.35 crore in Q3-2015.

     

    Advertisement expense in Q4-2015 at Rs 11.5 crore was 10.6 per cent more than the Rs 10.4 crore in Q4-2014, but declined 7.3 per cent from Rs 12.4 crore in Q3-2015.

     

    Consolidated Employee Benefit Expense (EBE) in FY-2015 increased 14.1 per cent to Rs 101.75 crore as compared to Rs 89.16 crore in FY-2014. EBE in Q4-2015 at Rs 25.71 crore was 17.6 per cent more the Rs 21.02 crore in Q4-2014 and was 4.3 per cent lower than the Rs 25.83 crore in Q3-2015.

     

    Summing up Dish TV’s performance, Goel said, “Fiscal 2015 was a satisfying year. Our single-minded devotion to being the leader in the DTH industry along with uncompromised financial discipline enabled us to reach the net profitability milestone much ahead of our peers. With cost line items under control, the resultant EBITDA for the quarter increased by a strong 72.1 per cent y-o-y. EBITDA margin improved to 29.4 per cent. PAT of Rs 35.01 crore resulted in Free Cash Flow (FCF) of Rs 70.2 crore for the quarter. Churn for the quarter was maintained at 0.7 per cent per month.”

     

    Click here to read the financial statement  

  • Shemaroo files satisfying maiden results; PAT up 82% to Rs 12.77 crore

    Shemaroo files satisfying maiden results; PAT up 82% to Rs 12.77 crore

    BENGALURU: Shemaroo Entertainment has its maiden annual numbersafter listing in September 2014. The company has reported 50.7 per cent growth in profit after tax (PAT) at Rs 40.92 crore (12.7 per cent of Total Income from Operations or TIO) as compared to the Rs 27.16 crore (10.3 per cent of TIO) in FY-2014.

     

    For Details Click:-

     

     

  • Games, network services raise Sony Q2-2015 revenue, impairment of goodwill widens loss

    Games, network services raise Sony Q2-2015 revenue, impairment of goodwill widens loss

    BENGALURU: Sony Corporation (Sony) reported sales of ? 1,901.5 billion (US$ 17,445 million) in Q2-2015, (quarter ended 30 September 2014, current quarter) an increase of 7.2 percent compared to ? 1774.2 billion in Q2-2014. An operating loss of Y 85.6 billion yen (US$ 785 million) was recorded in the current quarter, compared to operating income of 13.9 billion yen in Q2-2014. This significant deterioration was primarily due the ? 176.0 billion yen (US$ 1615 million) impairment of goodwill recorded in the company’s Mobile Communications (MC) segment says the company.

    Sony says that increase in sales was primarily due to a significant increase in its games and network services segment (G&NS) sales, reflecting the contribution of the PlayStation 4 (PS4), a significant increase in devices segment sales primarily due to the strong performance of image sensors, as well as the favourable impact of foreign exchange rates. This increase was partially offset by a significant decrease in sales in All Other, primarily related to Sony’s exit from the PC business, explains the company.

    Mobile Communications Segment (MC)

    Sony’s MC segment’s sales increased 1.2 percent in Q2-2015 to ? 308.4 billion (US$ 2829 million) from ? 304.6 billion, primarily due to the favourable impact of foreign exchange rates, partially offset by a decrease in sales mainly in Japan.

    Operating loss of ? 172.0 billion (US$ 1578 million) in Q2-2015 was recorded, compared to operating income of ? 8.8 billion in Q2-2014. As mentioned above, this deterioration was primarily due to the impairment charge of goodwill recorded in this segment. Further, in the current quarter, marketing expenses and research and development expenses increased year-on-year in order to expand sales channels adding to the loss says Sony.

    Games & Network Services Segment

    G&NS sales increased 83.2 percent in Q2-2015 to ? 309.5 billion (US$ 2839 million) from ? 169 million in Q2-2014. This significant increase was primarily due to the contribution from PS4 hardware sales, a significant increase in network services revenue related to the introduction of the PS4 and the contribution from PS4 software sales, partially offset by a decrease in PlayStation3 (PS3) hardware and PS3 software sales. Sales to external customers increased 97.0 per cent year-on-year.

    Operating income of ? 21.8 billion (US$ 200 million) was recorded, compared to an operating loss of ? 4.2 billion in Q2-2014. This improvement was primarily due to the impact of the above-mentioned increase in sales related to the introduction of the PS4, partially offset by the impact of the above-mentioned decrease in PS3 software sales says the company.

    Imaging and Print Services (I&PS)

    I&PS sales increased 1.8 percent year-on-year to ? 178.6 billion (US$ 1639 million) in Q2-2015 from ? 175.5 billion in Q2-2014. Sales were essentially flat year-on-year primarily due to the favourable impact of foreign exchange rates and an improvement in the product mix of digital cameras reflecting a shift to high value-added models, partially offset by a significant decrease in unit sales of digital cameras.

    Operating income of ? 20.1 billion (US$ 184 million) was recorded, compared to an operating loss of ? 2.3 billion in the same quarter of the previous fiscal year. Sony says that this improvement was mainly due to a reduction in selling, general and administrative expenses, the above-mentioned improvement in product mix reflecting a shift to high value-added models and the favourable impact of exchange rates.

    Home Entertainment & Sound (HE&S)

    HE&S sales increased 7 percent year-on-year to ? 282.4 billion (US$ 2590 million) from ? 263.8 billion in Q2-2014. This increase was primarily due to a significant increase in sales of televisions and the favourable impact of foreign exchange rates. The company says that unit sales of LCD televisions increased significantly in Europe, North America, and Asia-Pacific, partially offset by a significant decrease in unit sales in Latin America. Audio and video  category sales decreased mainly due to a decrease in sales in Latin America reflecting adverse market conditions.

    Operating income of ? 8.0 billion (US$ 73 million) was recorded, compared to an operating loss of ? 12.1 billion in the same quarter of the previous fiscal year. This improvement was primarily due to cost reductions and an improvement in the product mix reflecting the shift to high value-added models, partially offset by a decrease in the average selling price of LCD televisions.

    Sony reveals that television sales increased 14.7 per cent year-on-year to ? 199.7 billion (US$ 1832 million) in Q2-2015. This significant increase was primarily due to the above-mentioned significant increase in unit sales of LCD televisions, and the favourable impact of foreign exchange rates.

    Operating income of ? 4.9 billion (US$ 45 million) was recorded, compared to an operating loss of ? 9.3 billion in Q2-2014. This improvement was primarily due to cost reductions and an improvement in the product mix of LCD televisions reflecting a shift to high value-added models, partially offset by a decrease in the average selling price.

    Devices

    Devices segment sales increased 23.1 percent in Q2-2015 to ? 247.7 billion (US$ 2273 million) from ? 203.1 billion in Q2-2014. This increase was primarily due to a significant increase in sales of image sensors reflecting higher demand for mobile products, an increase in sales of camera modules, as well as the favourable impact of foreign exchange rates. Sales to external customers increased 25.1 percent in Q2-2015 reveals the company.

    Operating income increased ? 17.7 billion to ? 29.6 billion yen (US$ 271 million). This increase was primarily due to the above-mentioned increase in sales of image sensors, the favourable impact of foreign exchange rates and an improvement in the results of the battery business.

    Pictures

    Pictures segment sales increased 2.4 percent to ? 182.2 billion yen (US$ 1671 million) in Q2-2015 from ? 177.8 billion in Q2-2104 primarily due to the favourable impact of the depreciation of the yen against the US dollar. The decrease on a US dollar basis was primarily due to a decrease in sales for Motion Pictures, reflecting lower theatrical revenues, partially offset by higher home entertainment and television licensing revenues.

    Theatrical revenues decreased as the same quarter of the previous fiscal year benefited from a higher number of theatrical releases. Home entertainment and television licensing revenues were higher as the current year benefited from the home entertainment releases of ‘The Amazing Spider-Man 2’ and ‘Heaven is for Real’ and from the television licensing sales of ‘Men In Black 3’ and ‘The Amazing Spider-Man’.

    Operating loss decreased ? 16.7 billion y-o-y to ? 1.0 billion (US$ 10 million), as Q2-2014 included higher marketing expenses as a result of a higher number of theatrical releases as well as the underperformance of ‘White House Down’.

    Music

    Music segment sales increased 1.5 percent in Q2-2015 to ? 116.8 billion (US$ 1071 million) from ? 115 billion. The decrease in sales on a constant currency basis is primarily due to lower music publishing and recorded music sales, partially offset by higher visual media and platform sales. On a constant currency basis, sales of music publishing decreased primarily due to a decrease in revenue outside of the US recorded music sales decreased slightly as the worldwide decline in physical and digital download sales were partially offset by higher digital streaming revenues. Visual media and platform sales increased mainly due to higher sales of animation products. Best-selling titles included Barbra Streisand’s ‘Partners’, Chris Brown’s ‘X’ and Sia’s ‘1000 Forms of Fear’.

    Operating income increased ?2.1 billion in Q2-2015 to ? 11.8 billion (US$ 108 million). This increase was primarily due to an improvement in equity in net income (loss) from EMI Music Publishing and a reduction in selling, general and administrative expenses.

    Financial services

    Financial services revenue increased 10.6 percent in Q2-2015 to ? 269.6 billion (US$ 2473 million) from ? 243.7 billion primarily due to an increase in revenue at Sony Life. Revenue at Sony Life increased 12.1 percent in the current quarter to ? 242.5 billion (US$ 2225 million), mainly due to an improvement in investment performance in the separate account resulting from a larger rise in the Japanese stock market compared to the same quarter of the previous fiscal year, as well as an increase in insurance premium revenue reflecting an increase in policy amount in force.

    Operating income increased ? 9.3 billion to ? 47.7 billion (US$ 437 million). This increase was mainly due to an increase in operating income at Sony Life. Operating income at Sony Life increased ? 9.3 billion y-o-y to ? 45.7 billion (US$ 419 million) primarily due to an improvement in investment performance in the general account.

    All Other

    All Other segment sales decreased 48.8 percent in Q2-2015 to ? 108.6 billion yen (US$ 997 million) from ? 212 billion in Q2-2014. This decrease was primarily due to a significant decrease year-on-year in unit sales of PCs reflecting Sony’s exit from the PC business.

    Operating loss increased ? 15.7 billion year-on-year to ? 18.2 billion (US$ 165 million). This deterioration was primarily due to a gain of ? 12.8 billion from the sale of certain shares of M3 recorded in the same quarter of the previous fiscal year and the recording of PC exit costs in the current quarter.

  • Jain Studios reports flat q-o-q PAT for Q2-2015

    Jain Studios reports flat q-o-q PAT for Q2-2015

    BENGALURU: Jain Studios Limited (JSL) reported 6 per cent growth in q-o-q Total Operating Revenue (TOI) in Q2-2015 at Rs 880.07 lakh from Rs 830.24 lakh and a 52.5 y-o-y growth from Rs 577.1 lakh. Y-t-d the company’s TIO increased 52.6 per cent to Rs 1710.31 lakh from Rs 1120.84 lakh in the corresponding six months of last year (HY-2014).

     

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

     

    The company’s profit after tax (PAT) in Q2-2015 at Rs 20.78 lakh (2.4 per cent of TIO) was almost flat (2.6 per cent higher) than the Rs 20.26 lakh (2.4 per cent of TIO), but was 33.9 per cent lower than the Rs 31.43 lakh in Q2-2014. PAT for HY-2015 at Rs 41.04 lakh (2.4 per cent of TIO) was 20.3 per cent lower than the Rs 51.51 lakh (4.6 per cent of TIO) in HY-2014.

     

    JSL total expenditure (TE) in Q2-2015 at Rs 845.05 lakh (96 per cent of TIO) was 4.1 per cent more than the Rs 811.94 lakh in Q1-2015 (97.8 per cent of TIO) and 50.1 per cent more than the Rs 562.87 lakh (97.5 per cent of TIO) in Q2-2014. HY-2015 TE at Rs 1657 lakh (96.9 per cent of TIO) was 52.1 per cent more than the Rs 1089.44 lakh (97.2 per cent of TIO) in HY-2014.

     

    Production cost is a major expense head for the company. The company’s production cost in Q2-2015 at Rs 625.52 lakh (71.1 per cent of TIO) was 4 per cent more than the Rs 601.2 lakh (72.4 per cent of TIO) in the previous quarter and 271.9 per cent more than the Rs 168.19 lakh (29.1 per cent of TIO) in Q2-2014. For HY-2015, production cost at Rs 1226.73 lakh (71.7 per cent of TIO) was 279.6 per cent more than the Rs 323.18 lakh (28.8 per cent of TIO) in HY-2014.

     

    JSL chairman J K Jain stated, “There is a growth of 52.50 per cent in the operating revenues during the current quarter as compared to quarter in the previous year due to significant wins in Mobile Healthcare business.

     

    “The growth in revenue is in line with our expectation and is a reflection of our investments in new business ventures to accelerate the company’s growth. We have utilised internal funds for these ventures and are sure that the company will be able to mobilise funds to support the growth in future,” he added.

  • Higher expenses pare TV Today PAT in Q2-2015; excellent HY-2015 results

    Higher expenses pare TV Today PAT in Q2-2015; excellent HY-2015 results

    BENGALURU: A 58.1 per cent y-o-y increase in production costs coupled with a 40.4 per cent increment in employee benefit expense (EBE) and a 36.6 per cent rise in other expense pared TV Today Network Limited (TVTN) PAT to register a 2.9 per cent increment in Q2-2015. TVTN reported a y-o-y growth of 21.8 per cent in its Total Income from Operations (TIO) in Q2-2015 at Rs 111.69 crore versus the Rs 91.71 crore in Q2-2014, but TIO registered an 18.5 per cent decline when compared to the Rs 137.01 crore for Q1-2015. Higher TIO in Q1-2015 can be attributed to the national elections that saw revenues of most news channels rise during the first quarter of FY-2015.

     

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

     
    As mentioned above, the company’s PAT at Rs 13.21 crore (11.8 per cent of TIO) was 2.9 per cent more than the Rs 12.83 crore (25 per cent of TIO), but was almost a third (40.3 per cent of TIO) the Rs 32.79 (23.9 per cent of TIO) crore in Q1-2015.

     
    However, when comparing the year to date or HY-2015 versus HY-2014 results, the company has performed very well. For HY-2015, TVTN reported TIO of Rs 248.70 crore, which was 37.7 per cent more than the Rs 180.61 crore in HY-2014. PAT was even better, registering a growth of 85.3 per cent for HY-2015 to Rs 46 crore (18.5 per cent of TIO) as compared to the Rs 24.82 crore (13.7 per cent of TIO) in HY-2014.

    The company’s television broadcasting segment reported a y-o-y revenue growth of 22.7 per cent at Rs 107.48 crores from Rs 87.62 crore, but q-o-q was 19.7 per cent lower from the Rs 133.64 crore in the immediate trailing quarter. This segment reported an operating profit of Rs 21.16 crore in Q2-2015, 0.5 per cent lower than the Rs 21.27 crore in Q2-2014, and 58.9 per cent less than the Rs 51.43 crore in Q1-2015.

     TVTN’s Television Broadcasting segment’s HY-2015 revenue at Rs 241.12 crore was 39 per cent more than the Rs 173.51 crore in HY-2014. Operating profit of this segment for HY-2015 at Rs 72.59 crore was 71 per cent more than the Rs 42.45 crore in HY-2014.
     

    Let us look at the other Q2-2015 and HY-2015 numbers reported by TVTN.

     
    The company’s total expenditure (TE) in Q2-2015 at Rs 95.76 crore (85.7 per cent iof TIO) was 30.2 per cent more than the Rs 73.54 crore (80.2 per cent of TIO) in Q2-2014 and 7.2 per cent more than the Rs 89.31 crore (65.2 per cent of TIO) in Q1-2015. HY-2015 TE at Rs 185.08 crore (74.4 per cent of TIO) was 61.2 per cent more than the Rs 114.09 crore(63.6 per cent of TIO) in HY-2014.

     
    TVTN’s EBE at Rs 32.04 crore (28.7 per cent of TIO) in Q2-2015 was 40.4 per cent more than the Rs 22.83 crore(24.9 per cent of TIO) in Q2-2014 and 9.4 per cent more than the Rs 29.29 crore (21.4 per cent of TIO) in Q1-2015. For HY-2015, EBE at Rs 61.33 crore (24.7 per cent of TIO) was 32.1 per cent more than the Rs 46.43 crore (25.7 per cent of TIO) in HY-2014.

     
    Production cost in Q2-2015 at Rs 12.74 crore (11.4 per cent of TIO) was 58.1 per cent more than the Rs 8.06 crore (8.8 per cent of TIO) in Q2-2014, but 5.3 per cent lower than the Rs 13.45 crore (9.8 per cent of TIO) in Q1-2015. For HY-2015, Production cost at Rs 26.19 crore (10.5 per cent of TIO) was 53.2 per cent more than the Rs 17.09 crore (9.5 per cent of TIO) in Hy-2014.

     
    Other expense in Q2-2015 at Rs 18.09 crore (16.2 per cent of TIO) was 36.6 per cent more than the Rs 13.24 crore (14.4 per cent of TIO) in Q2-2014 and 3.8 per cent more than the Rs 17.43 crore (12.7 per cent of TIO) in Q1-2015. For HY-2015, other expense at Rs 36.52 crore (14.7 per cent of TIO) was 41.3 per cent more than the Rs 25.85 crore (14.3 per cent of TIO) in HY-2014.

     
    TVTN’s other segment – Radio Broadcasting which operates under the brand Oye! FM reported 3.2 per cent growth in operating revenue in Q2-2015 at Rs 4.21 crore from Rs 4.08 crore in Q2-2014 and 25.1 per cent growth from Rs 3.37 crore in Q1-2015. The segment reported loss of Rs 1.8 crore in Q2-2015, loss of Rs 2.02 crore in Q2-2014 and loss of Rs 2.56 crore in Q1-2015. For HY-2015, Oye!FM operating revenue grew 6.7 per cent to Rs 7.58 crore from Rs 7.1 crore in HY-2014. Oye!FM loss for HY-2015 was Rs 4.37 crore versus a loss of Rs 4.34 crore in HY-2014.

     

    Click here for the full financial