ITV

Tag: FM auctions

  • ENIL income from outside India grows as other numbers plummet in first quarter

    ENIL income from outside India grows as other numbers plummet in first quarter

    BENGALURU: Indian private FM player Entertainment Network (India) Ltd (ENIL), which runs the Mirchi brand radio network in India, reported 71.7 percent fall in consolidated Total Income from Operations (TIO) for the quarter ended 30 June 2020 (Q1 2021, quarter or period under review) as compared to the corresponding year ago quarter (Q1 2020). The company reported consolidated revenue of Rs 38.46 crore for the quarter as compared to Rs 130.52 crore in the corresponding quarter of the previous fiscal. Quarter-on-quarter (q-o-q), revenue in Q 2021 also fell 75.3 percent from Rs 149.63 crore in Q4 2020.

    Break up of operating revenue from India was Rs 27.28 for Q1 2021, which was 78.9 percent lower y-o-y than the Rs 129.41 crore in Q1 2020 and was 81.2 percent lower q-o-q than Rs 145.02 crore in the immediate trailing quarter Q4 2020.

    Operating revenue from outside India in Q1 2021 almost quadrupled (increased 271.7 percent) y-o-y to Rs 11.18 percent (29.1 percent of operating revenue) from Rs 3.01 crore (2.3 percent of operating revenue) in Q1 2020 and increased 60.4 percent q-o-q from Rs 6.82 crore (4.5 percent of operating revenue) in Q4 2020.

    ENIL reported a consolidated loss of Rs 12.18 crore for Q1 2021 as compared to a profit after tax (PAT) of Rs 2.64 crore in Q1 2020 and a lower loss of Rs 1.60 crore in Q4 2020.

    ENIL’s consolidated Earnings before Interest, Depreciation, Taxes and Amortisation (EBITDA, operating profit or operating loss) for Q1 2020 was a loss of Rs 25.94 crore as compared to operating profit of Rs 33.06 crore (25 percent of operating revenue) in Q1 2020 and an operating profit of Rs 22.99 crore (15.1 percent of operating revenue) in the immediate trailing quarter.

    Let us look at the other numbers reported by ENIL

    ENIL total expense (TE) in Q1 2020 reduced 26.9 percent y-o-y to Rs 94.41 crore from Rs 129.19 crore in Q1 2020, and fell 41.2 percent q-o-q from Rs 160.42 crore in Q4 2020.

    Production expense for the period under review declined 52.7 percent y-o-y to Rs 13.60 crore from Rs 28.77 crore in Q 2020 and fell 73.9 percent q-o-q from Rs 52.04 crore in Q4 2020.

    License fee in Q1 2021 was 12 percent lower y-o-y at Rs 7.87 crore crore as compared to Rs 8.95 crore in the corresponding year ago quarter and fell 14 percent q-o-q from Rs 9.15 crore in the immediate trailing quarter Q4 2020.

    Employee Benefit Expense (EBE) in Q1 2021 at Rs 26.30 crore fell 25.9 percent y-o-y from Rs 35.49 crore in Q1 2020 and declined 17 percent q-o-q from Rs 31.68 crore (20.7 percent of TIO).

    Finance costs in Q1 2020 declined 3 percent y-o-y to Rs 4.72 crore from Rs 4.86 crore in Q1 2020 and was almost flat (increased 0.4 percent) from Rs 4.70 crore in Q4 2020.

    Other expenses in Q1 2021 at Rs 16.64 crore declined 35.4 percent y-o-y from Rs 26.15 crore in Q1 2020 and were 53.8 percent lower q-o-q from Rs 35.97 crore in Q4 2020).

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • ENIL moves HC to postpone FM auctions; case deferred to August

    ENIL moves HC to postpone FM auctions; case deferred to August

    NEW DELHI: Entertainment Network India Ltd (ENIL) has filed a petition in Madras High Court seeking a direction for postponement of the e-auctions for FM Radio Phase III slated to begin from 27 July. 

     

    The petition was filed in response to an interim order passed by the court allowing Sun TV’s FM channels to participate in the auctions while its petition was awaiting a decision.

     

    ENIL, a subsidiary of Times Infotainment Media, is the holding company promoted by Bennett, Coleman & Company, owns Radio Mirchi. In its application, the company said it had no objection to the participation of Sun TV companies in the auctions, but only to the conditions imposed.

     

    “It is the conditional nature of participation that causes harm to the applicant, not the participation per se,” the company said in the petition. “Auctions scheduled for 27 July 2015 may be postponed enabling this court to hear this matter finally and order auctions to take place without any conditionality,” ENIL pleaded.

     

    The Court adjourned the matter to August, while directing Sun TV to file a counter.

     

    Unless the Information and Broadcasting Ministry extends the permission of broadcasters whose licenses are slated to expire on 30 September, they may be forced to go off-air. “This will be a compounded and useless exercise in case the bidding has to be held all over again if the present writ petitions fail and finally the entire process of auctions shall have to be carried out all over again, thereby resulting in wastage of time and resources of the bidders as well as the Government,” the petition said.

     

    As was reported earlier by Indiantelevision.com, Sun Group was not given security clearance by the Home Ministry, resulting in its companies approaching the Delhi and Madras High Courts for relief.

     

    In Madras, the Court granted an interim relief to Kal Radio’s Suryan FM and South Asian FM and allowed them to participate in the auction, while directing that the result of the auctions may be kept in a sealed cover and produced before the Court. Today, the Delhi High Court reserved its orders for tomorrow (26 July) on a similar petition by Red FM.

     

    ENIL has said that other bidders are likely to face grave and irreparable injury in case the auctions are allowed to be held with a conditional participation of the Sun TV and its companies.

     

    ENIL also explained that in the event, the e-auction process necessarily entails that each broadcaster shall have a separate computer terminal where it can follow its own progress on whether or not it has won the auction for a particular city or not. Hence to the extent the result is already public and no useful purpose would be served by keeping the results in the sealed cover.

     

    At a later date, the petition said, the results of the auction, inasmuch as they pertain to telling all broadcaster bidders of the outcome with regard to be the other bidders, will be kept under wraps and the bidders may get to know about the successful nature of bids much later, second as the bid prices will determine the Non-Refundable One Time Migration Fee for all existing license holders to pay in order to migrate to phase-III of FM radio, such an order would keep the entire migration process in suspended animation, thereby leading to a complete chaos and uncertainty about the future of the present licensees.