ITV

Tag: PAT

  • Zee Learn reports improved y-o-y results for Q2:2014

    Zee Learn reports improved y-o-y results for Q2:2014

    BENGALURU: The Essel group’s education company Zee Learn Limited (Zee Learn) reported higher revenue from operations at Rs 23.91 crore, higher by 27 per cent as compared to the Rs18.84 crore for Q2-2013. The company also returned a PAT of Rs 0.54 crore for Q2-2014 as compared to a loss of Rs(-2.501) crore for the corresponding quarter of last year.

     

    During Q1-2014, the company had forex gain of Rs 1.86 crore on remittance of the GDR issue (listed on the Luxemburg Stock Exchange) proceeds, which was included in the other income of the company for that quarter. The company had reported a 28.7 per cent higher operating of revenue of Rs 33.52 crore for the immediate trailing quarter as well as PAT of Rs 3.25 crore, which was about six times (6.06 times) more than the PAT for the current quarter.

     

     Let us look at the other Q2-2014 results reported by Zee Learn

     

     Two heads that added to the profitability were increase in stock in trade and other income.

     

    Zee Learn reported increase in stock in trade of Rs 0.9543 crore for Q2-2014, which was 49.2 per cent higher than the Rs 0.6396 crore for Q1-2013, but was 35.2 per cent lower than the Rs 1.47 crore for the immediate preceding quarter (Q1-2014).

     

    Other income for Q2-2014 at Rs 0.4294 crore was 38.6 per cent lower than the Rs 0.5953 crore for Q2-2013 and less than a fifth (5.2 times lower) of the Rs 2.22 crore for Q1-2014. As mentioned above, this included a forex gain of Rs 1.86 crore for Q1-2014.

     

    Total expenditure for Q2-2014 at Rs 22.31 crore was 9.1 per cent higher than the Rs 20.46 crore for Q2-2013, but 28 per cent lower than the Rs 30.95 crore for the immediate trailing quarter.

     

    During Q2-2014, the company spent Rs 1.89 crore towards advertising expense, which was about 5.3 per cent lower than the Rs 2.0 crore for Q2-2013 and almost half (52.4 per cent) of the Rs 3.61 crore for Q1-2014.

     

    Towards publicity, the company spent Rs 2.01 crore for Q2-2014, which was 32.7 per cent lower than the Rs 2.98 crore for Q2-2013 and again almost half (50.6 per cent) of the Rs 3.97 crore for Q1-2014.

     

     Zee Learn spent 78.6 per cent more towards purchase of education goods and TV content at Rs 5.85 crore for Q2-2014 as compared to the Rs 3.28 crore for Q2-2013, but less than  half (47.7 per cent) the the Rs12.27 crore for Q1-2014.

    Depreciation and amortisation for Q2-2014 at Rs1.75 crore was 23 per cent more than the Rs1.42 crore for Q2-2013 and 14.5 per cent more than the Rs1.53 crore for Q1-2014.

     

     Employee benefit expense at Rs 7.51 crore for Q2-2014 was 13.8 per cent lower than the Rs 8.71 crore for the corresponding quarter of 2013 and 9.7 per cent lower than the Rs 8.31 crore for Q1-2014.

  • Q2-2014: Forex gains boosts PAT to more than double for Prime Focus

    Q2-2014: Forex gains boosts PAT to more than double for Prime Focus

    BENGALURU: Indian visual effect and 3-D conversion player Prime Focus Limited (Prime Focus) reported consolidated PAT of Rs 21.34 crore for Q2-2014, more than double (2.24 times) the Rs 9.54 crore for Q2-2013 and 2.53 times the Rs 8.53 crore for Q1-2014.

     

    The company reported exchange gain at Rs 20.37 crore for Q2-2014 on a consolidated basis, 44.8 per cent more than the Rs 14.06 crore for Q1-2014 and hence contributed to a major extent to the PAT. Prime Focus had reported an exchange loss of Rs 6.91 crore for Q2-2013.

     

    Let us look at the other figures reported by Prime Focus for Q2-2014

     

    Prime Focus reported consolidated net sales from operations for Q2-2014 at Rs 196.06 crore, almost flat (about 0.17 per cent lower) than the Rs 196.39 crore for Q2-2013 and 4.2 per cent higher than the Rs 188.47 crore for Q1-2014. Besides foreign exchange gain/loss mentioned above, other income for Q2-2014 was Rs 4.06 crore as compared to the Rs 6.63 crore for Q2-2013 and the Rs 2.78 crore for Q1-2014.

     

    Total expenditure at Rs 179.42 crore for Q2-2014 was 0.8 per cent less than the Rs 180.81 crore for Q2-2013, and 16.3 per cent more than the Rs 154.21 crore for the immediate trailing quarter Q1-2014.

     

    Personnel cost for Q2-2014 at Rs 92.74 crore was 11.05 per cent lower than the Rs 104.26 crore for the corresponding quarter of last year (Q2-2013) and 1.5 per cent lower than the Rs 94.11 crore for Q1-2014. Of these figures for personnel cost, the company paid Rs 16.89 crore towards technician fee for Q2-2014, a fraction of a per cent lower than the Rs 17.12 crore for Q1-2014.

     

    Depreciation and amortisation cost for Q2-2014 at Rs 28.44 crore was 35.2 per cent higher than the Rs 21.03 crore y-o-y and 26.6 per cent more than the Rs 22.47 crore for Q1-2014.

     

    Other expenditure for Q2-2014 at Rs 55.24 crore was 13.6 per cent more than the Rs 48.61 crore y-o-y and 6.8 per cent more than the Rs 51.68 crore q-o-q.

     

    Prime Focus paid Rs 11.09 crore towards finance costs for Q2-2014, 2.7 per cent more than the Rs 10.8 crore for Q2-2013 but 15.1 per cent lower than the Rs 13.05 crore for the trailing quarter (Q1-2014).

     

    Notes: (1) All figures on a consolidated basis.

    (2) On September 17, 2013, the company received an approval from its shareholders though a postal ballot, for sale of its ‘Backend Business’ which includes (a) business of providing service of conversion of 2D audio visual/moving images to stereo 3D audio visual/moving images provided by the company to Prime Focus World N. V., a company incorporated and operating under the laws of Netherlands (‘PFW’) (“Conversion Business”) and (b) business of providing  the services of computer generated film visual effects by the  company to PFW (“VFX Business”), to Prime Focus World Creative Services Pvt. Ltd., a company incorporated in India and an indirectly controlled  subsidiary of the company on a going concern basis by a slump sale  for a total consideration of not less than the Rupees equivalent of USD 3.8 crore (38 million).

  • Hathway Q2-2014 y-o-y revenue up 68 per cent, loss returns after two quarters

    Hathway Q2-2014 y-o-y revenue up 68 per cent, loss returns after two quarters

    BENGALURU: Indian Multi Systems Operator (MSO) Hathway Cable & Datacom Limited (Hathway) reported net sales/income from operations of Rs 219.33 crore for Q2-2014, 68 per cent higher than the Rs 130.33 crore the company reported for Q2-2013, but 5.4 per cent lower than the Rs 231 crore for the immediate trailing quarter (Q1-2014).

     

    The company reported a net loss of Rs (-44.44) crore for Q2-2014, 35.26 times higher than the loss of Rs (-1.26 crore) for the corresponding period last year. Earlier, Hathway had reported positive PAT for two consecutive quarters, viz. Q1-2014 when it returned a positive PAT of Rs 5.32 crore and an even higher positive PAT of Rs 28.27 crore for Q4-2013. For FY-2013, the company had reported a net profit for the year from continuing operations of Rs 3.2 crore, while for FY-2012; the company had reported a loss of Rs 5.17 crore.

     

    Let us look at the other Q2-2014 figures reported by Hathway

     

    Hathway’s EBIDTA for Q2-2014 at Rs 40.15 crore was 68.7 per cent more than the Rs 23.8 crore for Q2-2013, but almost half (52.1 per cent) of Rs 77.04 crore for Q1-2014.

     

    The MSO reported a loss before other income, interest and exceptional Items, and tax of Rs (-12.9) crore for Q2-2014, as compared to a loss of Rs (-5.39) crore for Q2-2013 and a profit of Rs 34.55 crore for Q1-2014.

     

    Hathway reported expense of Rs 233.19 crore (5.9 per cent more than the total income of Rs 220.28 crore) for Q2-2014, more than double (2.09 times)  the Rs 111.7 crore for Q2-2013 and about 17.8 per cent more than the Rs 198.01 crore for the immediate preceding quarter (Q1-2014).

     

    Harthway’s pay channel cost at Rs 68.3 crore was 75 per cent more than the Rs 39.05 crore for Q2-2013 and 16.8 per cent more than the Rs 58.45 crore for Q1-2014.

     

    Depreciation and amortisation expense at Rs 51.32 crore was 16.2 per cent more than the Rs 44.18 crore for Q2-2013 and 23.5 per cent more than the Rs 41.54 crore for Q1-2014.

     

    Another major expense head – Other expenses for Q2-2014 at Rs 98.12 crore was up 62.6 per cent as compared to the Rs 60.33 crore for Q2-2013 and 17.3 per cent more than the Rs 83.67 crore for Q1-2014.

     

    Hathway’s finance cost for Q2-2014 at Rs 23.71 crore more than tripled (was 3.25 times) the Rs 7.30 crore for Q2-2013 and was 9.7 per cent more than the Rs 21.61 crore for Q1-2014.

     

    Hathway reported a foreign exchange loss of Rs (-7.51) crore for Q2-2014 as compared to a gain of Rs 4.48 crore for Q2-2013 and a loss of Rs (-8.32) crore for the trailing quarter (Q1-2014).

     

    Revenue and results from the other segments was a minor fraction of the overall revenue.

  • Mukta Arts PAT 0.2% for Q2-2014 despite higher q-o-q income

    Mukta Arts PAT 0.2% for Q2-2014 despite higher q-o-q income

    BENGALURU: Mukta Arts Limited (MAL) announced a PAT of Rs 0.1632 crore and total income from operations of Rs 85.16 crore for Q2-2014, which translates roughly to 0.19 per cent. Revenue for Q1-2014 was lower by 19.2 per cent at Rs 71.45 crore, and for the corresponding quarter last year (Q2-2013) it was 11.8 per cent lower at Rs 76.14 crore. Last quarter (Q1-2014) the company had reported a PAT of Rs 0.74 crore or 1.04 per cent of total income from operations.

     

    Let us take a look at the other figures reported for Q2-2014 by MAL

     

    Total expense for Q2-2014 at Rs 84.61 crore was 12.9 per cent higher than the Rs 74.95 crore for Q2-2013 and 20.3 per cent more than the Rs 70.34 crore for Q1-2014.

     

    The largest chunk of expense is producers/distributors share in the case of MAL. The company has reported Rs 78.21 crore (91.8 per cent of total income from operations) towards this head for Q2-2014, which was 8.6 per cent higher than the Rs 72.04 crore (94.6 per cent of total income from operations) for Q2-2013, and 20.4 per cent more than the Rs 64.94 crore (90.9 per cent of total income from operations) for the immediate preceding quarter (Q1-2014).

     

    Segment Revenue

     

    Four segments – Software division; Equipment division; Theatrical Exhibition division; and Others are responsible for revenue for MAL.

     

    MAL’s software division reported revenue of Rs 79.67 crore for Q2-2014, 6.7 per cent higher y-o-y as compared to the Rs 74.75 crore for Q2-2013 and 20.8 per cent higher than the Rs 65.92 crore for Q1-2014. Despite the higher revenue, profit from this segment was less than a fourth (4.21 times less) at Rs 0.35 crore for Q2-2014 as compared to the Rs 1.46 crore for Q1-2013 and just about half the Rs 9.29 crore for Q1-2014.

     

    Its theatrical segment saw a huge jump in revenue at Rs 3.52 crore for Q2-2014 as compared to the Rs 0.1545 crore for Q2-2014, but was 4.3 per cent lower than the Rs 3.68 crore for Q1-2014. This segment saw a loss of Rs (-0.25) crore for Q2-2014 as compared to a profit of Rs 0.08 crore for Q1-2014 and a loss of Rs (-0.04) crore for Q2-2013.

     

    Revenue and results from the other segments was a minor fraction of the overall revenue.

  • Q2-2014 Den Networks reports 35 per cent higher y-o-y cable revenues

    Q2-2014 Den Networks reports 35 per cent higher y-o-y cable revenues

    BENGALURU: Indian cable TV distribution company Den Networks Limited (Den Networks) continues to rake in the moolah with 32.4 per cent higher total revenue of Rs 271.88 crore for Q2-2014 as compared to the Rs 205.26 crore for Q2-2013 and almost flat (1.8 per cent higher) as compared to the Rs 268.69 crore for Q1-2014. The company reported a 35 per cent y-o-y jump in cable revenue for Q2-2014 at Rs 258.93 crore as compared to the Rs 192.51 crore in the corresponding quarter of last year (Q2-2013).

     

    Note:  
    Den Network claims that on account of a reporting policy change, w.e.f. Q2-2014, all revenue figures exclude ‘Other Income’ which is reported separately after EBITDA, and that past period figures have also been adjusted to this effect to make it comparable. Variance/s has/have been observed between the company’s investor updates of Q1-2014 and Q2-2014 and the statements filed by the company with the stock exchanges. The differences, if any between the financial analysis for Q1-2014 and Q2-2014 must be attributed to the varied accounting methodology/communications by the company. The current analysis is being done based on the updates for Q2-2014 received.

     

    The company reported a 35 per cent y-o-y jump in cable revenue for Q2-2014 at Rs 258.93 crore as compared to the Rs 192.51 crore in the corresponding quarter of last year (Q2-2013) on the back of strong growth in subscription revenues and higher placement revenues despite lower activation revenues in the current quarter.

     

    Q-o-q, the company’s investor update for Q2-2014 says that its cable business revenue was almost the same as the Rs 256.41 crore for Q1-2014, a figure that is Rs 6.44 crore (about 2.45 per cent) lower than the Rs 262.85 crore the company had reported in its Q1-2014 investor update (ref Note above).

     

    The company says that it has deployed about four lakh set top boxes (STBs) during Q2-2014 and claims a digital subscriber base of around five million in DAS phase I and II cities and about eight million analogue subscribers in DAS phase III and IV markets.

     

    Further, Den Networks believes that the next big opportunity after full digitisation of cable TV is offering high speed broadband services to its subscribers. The company announced plans to launch its broadband service offering by late Q4, FY 2013-14 (February 2014).

     

    Let us look at the other Q2-2014 figures announced by Den Networks

     

    The company has reported breakup of its cable revenue as Rs 99.11 crore as subscription revenue, Rs 119.90 crore as placement revenue and Rs 29.43 crore as digital activation revenue.

     

    Den Network’s consolidated EBITDA for Q2 -2014 was Rs 87.70 crore vs. Rs 38.73 crore in Q2-2013, a 126 per cent leap y-o-y, and eight per cent higher than the Rs 80.94 crore for Q1-2014.

     

    Correspondingly, its cable business EDITDA for Q2-2014 at Rs 85.05 crore was 134 per cent higher than the Rs 36.36 crore for Q2-2013 and seven per cent higher than the Rs 79.39 crore for Q1-2014.

     

    Consolidated PAT at Rs 11.18 crore for Q2-2014 was up by about 10 per cent higher as compared to the PAT of Rs 10.15 crore for Q1-2014. The company says that its cable business PAT stood at Rs 9.64 crore for Q2-2014.

     

    Consolidated expense at Rs 224.13 crore for Q2-2014 was 21.54 per cent higher than the Rs 184.66 crore for Q2-2013, and 2.3 per cent lower than the Rs 229.69 crore for Q1-2014. Den Network paid 18.4 per cent more towards content cost at Rs 90.54 crore for Q2-2014 as compared to the Rs 76.5 crore in Q2-2013 and the 6.5 per cent higher than the Rs 85.01 crore in Q1-2014.

     

    Depreciation and amortisation cost at Rs 37.04 crore for Q2-2013 was more than double (2.14 times) the Rs 17.29 crore for Q2-2013 and 11.47 per cent higher than the Rs 33.23 crore for Q1-2014. Den Networks has reported a foreign exchange loss of Rs 5.96 crore in its cable business for 2-2014.
    Den Networks claims that there is a significant demand for its digital cable services in its existing Phase III and IV markets. The pace of seeding is expected to pick up in the next few months. It also says that it is witnessing a lot of interest from smaller players (MSOs and LCOs) from Phases III and IV areas looking to align themselves with it and is receiving several such requests on a regular basis.

  • Sun TV reports PAT of Rs 169.16 crore for Q2-2014; encores interim dividend

    Sun TV reports PAT of Rs 169.16 crore for Q2-2014; encores interim dividend

    BENGALURU: A media conglomerate with one of the largest Indian television networks, Sun TV Network Limited (Sun TV) reported a PAT of Rs 169.16 crore, up 11.5 per cent as compared to the PAT of Rs 151.65 crore for the corresponding quarter of last year (Q2-2013) and 2.9 per cent higher than the Rs 164.44 crore for the immediate preceding quarter, Q1-2014.

     

    Last quarter (Q1-2014), the board of directors of the company had declared an interim dividend of Rs 2.25 per share (45 per cent). This quarter the board has declared interim dividend of Rs 2.50 (50 per cent) per share of Rs 5 each.

     

    Let us look at the other Q2-2014 figures reported by Sun TV

     

    The company reported Rs 466.41 crore as income from operations for Q2-2014 up 7.6 per cent as compared to the Rs 433.34 crore for Q2-2013, and lower by 22.5 per cent as compared to the Rs 601.85 crore for Q1-2014. It must however be noted that Rs 98.54 crore revenue came from the company’s IPL franchisee Hyderabad Sunrisers in Q1-2013 as compared to the Rs 5.43 crore for Q2-2014.

     

    Sun TV reported a total turnover of Rs 504.21 crore for Q2-2013, up 13.8 per cent as compared to the Rs 44.95 crore for Q2-2013. The company had reported total turnover of Rs 615.24 crore including IPL Franchisee turnover for Q1-2014.

     

    Sun TV reported total expense of Rs 246.29 crore (NIL IPL franchisee fee) for Q2-2014, 12.9 per cent higher than the Rs 218.17 crore for Q2-2013, but 32.6 per cent lower than the Rs 365.59 crore (this includes IPL franchisee fee of Rs 85.05 crore) for Q1-2014. The expense of Rs 246.29 crore includes expense of Rs 8.51 crore of its Sunrisers Hyderabad IPL team.

     

    Of the major expense heads, Sun TV has reported Rs 48.27 crore as employee benefit expense for Q2-2014, as compared to the Rs 42.89 crore for the corresponding quarter last year and the Rs 44.21 crore for Q1-2014. Other expenditure at Rs 36.51 crore was almost a third more (32 per cent more) than the Rs 27.66 crore for Q2-2013 and less than half (49.4 per cent of) the Rs 73.94 crore for Q1-2014.

     

    The company has not reported the breakup of its revenue and expense as has been its norm in the past.

  • Q2-2014: TV Today reports Rs 12.83 cr as compared to loss in Q2-2013

    Q2-2014: TV Today reports Rs 12.83 cr as compared to loss in Q2-2013

    BENGALURU: TV Today Network Limited (TV Today) reported a PAT of Rs 12.83 crore for Q2-2014 as compared to a loss of Rs (-9.15) crore in Q2-2013. PAT for Q2-2014 was 0.7 per cent higher than the Rs 11.98 crore for Q1-2014.

    Its radio segment reported improved performance with a 27 per cent lower segment loss of Rs (-2.02) crore for Q2-2014, as compared to the Rs (-2.76) crore for Q2-2013 and 13.3 per cent lower loss as compared to the loss of Rs (-2.33) crore for Q1-2014.

    Let us look at the other results for Q2-2014 filed by TV Today

    Presently, TV Today runs four 24 hours news and current affairs channels, namely Aaj Tak, Dilli Aaj Tak and Tez in Hindi and Headlines Today in English.

  • Q2-2014: TV Today reports Rs 12.83 cr as compared to loss in Q2-2013

    Q2-2014: TV Today reports Rs 12.83 cr as compared to loss in Q2-2013

    BENGALURU: TV Today Network Limited (TV Today) reported a PAT of Rs 12.83 crore for Q2-2014 as compared to a loss of Rs (-9.15) crore in Q2-2013. PAT for Q2-2014 was 0.7 per cent higher than the Rs 11.98 crore for Q1-2014.

     

    Its radio segment reported improved performance with a 27 per cent lower segment loss of Rs (-2.02) crore for Q2-2014, as compared to the Rs (-2.76) crore for Q2-2013 and 13.3 per cent lower loss as compared to the loss of Rs (-2.33) crore for Q1-2014.

     

    Let us look at the other results for Q2-2014 filed by TV Today

     

    Presently, TV Today runs four 24 hours news and current affairs channels, namely Aaj Tak, Dilli Aaj Tak and Tez in Hindi and Headlines Today in English.

     

    TV Today reported total income from operations of Rs 91.71 crore for Q2-2014, 36 per cent higher than the Rs 67.31 crore for Q2-2013 and three per cent higher than the Rs 88.85 crore for the immediate preceding quarter Q1-2014.

     

    TV Today’s TV broadcasting segment income from operations for Q2-2014 at Rs 87.62 crore was more than a third higher (higher by 35.2 per cent) than the Rs 64.56 crore for Q2-2013 and almost flat (two per cent higher) than the Rs 85.89 crore for Q1-2014.

     

    TV Broadcasting segment reported a profit from operations of Rs 21.27 crore for Q2-2014 as compared to the loss of Rs (-3.19) crore for Q2-2013 and almost flat as compared to the Rs 21.18 crore for Q1-2014.

     

    Its FM radio broadcasting segment reported a 54 per cent higher income from operations for Q2-2014 of Rs 4.08 crore as compared to the Rs 2.65 crore for Q2-2014 and 35 per cent higher than the Rs 3.02 crore for Q1-2014. As mentioned above, loss for Q2-2014 from FM radio broadcasting business was much lower as compared to y-o-y or q-o-q.

     

    Q2-2014 Total Expense at Rs 73.54 crore was almost flat as compared to the Rs 73.31 crore for Q2-2013 as well as the Rs 71.27 crore for Q1-2014.

     

    Production cost for Q2-2014 at Rs 8.06 crore was 10.6 per cent lower than the Rs 9.02 crore for Q2-2013 and the Rs 9.03 crore for Q1-2014.

     

    The network spent about six per cent more in Q2-2014 towards Advertisement, Distribution and Sales Promotion expenses at Rs 22.93 crore as compared to the Rs 21.67 crore in Q2-2013 and 16.4 per cent higher than the Rs 19.7 crore in Q1-2014.

     

    The company says that it has made a strategic investment of Rs 45.52 crore in Mail Today Newspapers (Mail Today) for entering into print media. Though Mail Today is in the initial stages of operations and is presently incurring losses, the company is confident of its future and profitability and consequently of carrying value of the investment.

  • Encore! PVR repeats blockbuster results for Q2-2014

    Encore! PVR repeats blockbuster results for Q2-2014

    BENGALURU:  Indian motion picture exhibition, production and distribution house PVR Limited (PVR) repeated, actually bettered by far, its Q1-2014 stellar results during Q2-2014. PVR’s consolidated revenue for quarter ended 30 September 2013 stood at Rs 367.1 crore up 89 per cent as compared to Rs 193.6 crore during the corresponding period of last year and nine per cent more than PVR’s consolidated revenue for Q1-2014 which was Rs 337.3 crore.

     

    Consolidated profit after tax (PAT) at Rs 27.7 crore up by 71 per cent as against of Rs 16.1 crore in the September quarter last year (Q2-2013), and more than double the PAT of Rs 13.6 crore in Q1-2014.

     

    The company says that it has delivered a strong financial and operational performance in the quarter especially given that there were only two big releases – Chennai Express and Bhaag Milka Bhaag in the quarter as compared to five big films (Ek Tha Tiger, Barfi, Bol Bachan, Dark Knight  and Amazing Spiderman) a year-ago. The company also says that footfalls increased by eight per cent to 1.66 crore in the quarter while average ticket prices rose by four per cent as against same period last year.

     

    NOTE : (1) The board of directors in the meeting held on 15 June 2013, approved the composite scheme of amalgamation (Scheme) for the merger of Cine Hospitality Private Limited its wholly owned subsidiary and Cinemax India Limited along with its subsidiaries companies, namely , Nikmo Entertainment Limited, Odeon Shrine Multiplex Limited, Vista Entertainment Limited, Growel Entertainment Limited and Cinemax Motion Pictures Limited with the Company from the appointed date of 1st April 2013. As per the proposed Scheme, which is subject to approval of shareholders, creditors and regulatory authorities, the minority shareholders of Cinemax India Limited will receive equity shares of PVR Limited in the swap ratio of four equity shares of PVR Limited against seven equity shares of Cinemax India Limited. Further, SEBI, NSE & BSE have given their NOC in the current quarter and 7 December 2013 has been fixed by the Hon’ble High Court, New Delhi for holding the meeting of members and creditors of the Company.

     

    (2) The company in Oct 2013 entered into an agreement for sale of Anupam multiplex property located at Saket, New Delhi for a total consideration of Rs 52 crore. The sale and property is in line with company’s strategy to maintain an asset light business model.  The sale will release substantial capital to fund the future projects and enable the company to improve its Return on Capital Employed says PVR.1

     

    Let us look at the figures reported by PVR Limited for Q2-2014
    Exhibition Business

     

    PVR

    PVR’s standalone revenue of Rs 237.94 for Q2-2014 was 32 per cent more than the Rs 179.87 crore for Q2-2013 and 13.75 per cent more than the Rs 209.18 crore for Q1-2014.

     

    Expense for Q2-2014 at Rs 192.58 crore was 33 per cent more than the Rs 145.26 crore of Q2-2013 and 11 per cent more than the Rs 173.16 crore of Q1-2013.
    It’s EBIDTA for Q2-2014 at Rs 45.36 crore (Margin 19.1 per cent) as compared to the Rs 34.61 crore (Margin 19.2 per cent) for Q2-2013 and Rs 36.02 crore (Margin 17.2 per cent) for Q1-2014.111

     

    PVR’s standalone PAT for Q2-2014 at Rs 21.83 crore was 46 per cent more than the Rs 14.96 crore of Q2-2013 and more than a third (up 34 per cent) of the Rs 16.25 crore in Q1-2014.

     

    Cinemax

     

    Revenue for Q2-2014 from Cinemax at Rs 111.77 crore was five per cent lower than the Rs 117.44 crore for Q2-2013 and three per cent more than the Rs 108.62 crore for Q1-2014.

     

    Expense for Q2-2014 at Rs 84.43 crore was three per cent lower than the Rs 87.15 crore of Q2-2013 and 1.3 per cent lower than the Rs 85.52 crore of Q1-2014.
    EBIDTA for Q2-2014 was Rs 27.34 crore (24.5 per cent); for Q2-2013 – Rs 30.9 crore (25.8 per cent) and Rs 23.09 crore (21.3 per cent) for Q1-2014.

     

    Q2-2014 PAT at Rs 13.08 crore was 17 per cent lower than the Rs 15.81 crore of Q2-2013, but over 2 and half times (2.52 times) of the Rs 5.19 crore of Q1-2014.
    PVR says that Cinemax ATP was flat on account of harmonising of ticket pricing on weekdays and weekends in accordance with PVR pricing strategy and tax free Marathi films played in the western circuit.

     

    Food and beverage revenues grew by 25 per cent over corresponding quarter of previous year on account of success of the various strategic initiatives taken by the company. A 42 per cent growth in Sponsorship revenues reflected strong continuing positive performance year on year.

     

    PVR chairman cum MD Ajay Bijli said, “The strength of the film line up for the second half coupled with our solid first six months performance underpins our confidence that we are on track with our plans for the full year. We have maintained the position as the leading multiplex player in India and in this quarter we will surpass an important milestone of 400 screens in India.”

  • Q2-2014 HT Media PAT up due to subsidiary stake sale: Radio Business PBIT up 28%

    Q2-2014 HT Media PAT up due to subsidiary stake sale: Radio Business PBIT up 28%

    BENGALURU: Despite slightly lower consolidated income from operations in Q2-2014 at Rs 534.65 crore, as compared to the Rs 540.93 crore in Q1-2014, Indian media group HT Media Limited (HT Media) reported a 22.5 per cent jump in PAT for Q2-2014 at Rs 58.18 crore (after minority interest) as compared to the Rs 47.49 crore in Q1-2014 and 75 per cent higher than the Rs 33.31 crore for Q2-2013. HT Media had reported group consolidated income from operations of Rs 510.87 crore for Q2-2013.

     

    Excluding the Rs 38.21 crore from the proceeds of the sale of HT Media’s stake in HT Burda, PAT for Q2-2014 would be lower than the PAT for the immediate preceding quarter or the corresponding quarter of last year.

     

    Note: An amount of Rs 38.21 crore representing the difference between (i) the net proceeds of HT Media’s sale of equity shares held in a subsidiary company HT Burda amounting to Rs 59.91 crore and (ii) the carrying amount of assets of HT Burda less liabilities in the consolidated financial statement amounting to Rs 21.7 crore has been recognised as other income in the company’s financial statement.

     

    HT Media’s Fever 104 FM has four radio stations in Mumbai, Bangalore, Kolkata and Delhi. Its Radio, Broadcast and Entertainment segment’s PBIT at Rs 4.69 crore for Q2-2014 was 27.8 per cent more than the Rs 3.67crore for Q1-2014 and almost double (1.97 times) the Rs 2.38 crore PBIT for Q1-2013.

     

    The company claims that its advertising revenue from Printing of Newspapers and Periodicals ‘ segment increased to Rs 386.8 crore for Q2-2014 from Rs 364 crore in Q2-2013, primarily driven by increase in advertising yields and volumes. It also claims a 14 per cent increase in circulation revenue of print segment to Rs 64.2 crore in Q2-2014 from Rs 56.3 crore during the corresponding period last year, driven by increase in realisation per copy.

     

    Let us look at the other Q2-2014 figures reported by HT Media

     

    HT Media’s total income for Q2-2014 at Rs 591.6 crore was 11 per cent more than the Rs 535.25 crore for Q2-2013 and 4.1 per cent more than the Rs 568.49 crore for Q1-2014, mainly on account of higher other income due to HT Media’s sale of its stake in a subsidiary company HT Burda in the current quarter.

     

    Other Income at Rs 56.95 crore for Q2-2014 was more than double (2.34 times more) the Rs 24.38 crore in Q2-2013 and also more than double (2.1 times more) the Rs 27.56 crore for Q1-2014. However, once the proceeds of HT Media’s sale of its stake in its subsidiary HT Burda of Rs 38.21 crore is excluded, Q2-2014 other income would be lower than the other income for Q1-2014 or Q2-2013.

     

    HT Media’s total expense for Q2-2014 at Rs 492.61 crore was about three per cent more than the Rs 478.57 crore for Q2-2013 and about 1.6 per cent more than the Rs 484.81 crore for Q1-2014.

     

    A major chunk of the expense is the cost of raw materials consumed in the case of HT Media. It spent Rs 189.4 crore for Q2-2014 which was three per cent lower than the Rs 195.25 crore in Q2-2013, but 10.3 per cent more than the Rs 171.57 crore in the immediate preceding quarter (Q1-2014).

     

    Another major chunk of expense is Other Expense in the case of HT Media. Other Expense at Rs 180.28 crore for Q2-2014 was 15.5 per cent more than the Rs 156.04 crore for Q2-2013, but about 0.8 per cent lower than the Rs 181.75 crore for Q1-2014.

     

    HT Media’s Employee Benefit expense for Q2-2014 at Rs 106.47 crore was three per cent more than the Rs 103.41 crore for Q2-2013 and 0.8 per cent more than the Rs 105.52 crore for Q1-2014.

     

     Segment Results:

     

    HT Media reports revenue from four streams – Printing of Newspapers and Periodicals segment; Broadcast and Entertainment segment; Digital segment and from Unallocated segment.  

     

    Revenue from HT Media’s Printing of Newspapers and Periodicals segment at Rs 495.85 crore for Q2-2014 was 3.4 per cent higher than the Rs 479.18 crore for Q2-2013, but 1.1 per cent lower than the Rs 504.68 crore in Q1-2014.

     

    PBIT for Printing of Newspapers and Periodicals segment for Q2-2014 at Rs 59.48 crore was 23.3 per cent higher than the Rs 48.24 crore for Q2-2013, but 27 per cent lower than the Rs 82.46 crore for the immediate preceding quarter (Q1-2104).

     

    Revenue from Radio, Broadcast and Entertainment segment for Q2-2014 at Rs 22.16 crore was 11.2 per cent more than the Rs 19.92 crore for Q2-2013, and marginally higher (3.5 per cent) than the Rs 21.41 crore for Q1-2014.

     

    As mentioned above, Its Radio, Broadcast and Entertainment segment PBIT at Rs 4.69 crore  for Q2-2014 was 27.8 per cent more than the Rs 3.67 crore for Q1-2014 and almost double (1.97 times more) than the Rs 2.38 crore for Q1-2013.

     

    Results from the Digital Segment and the Unallocated segment are negative. Please see the attached financial statements.

     

    HT Media chairperson and editorial director Shobhana Bhartia said, “We are glad to report a stable growth in revenue and profit this quarter, despite continued uncertainty in the macroeconomic environment, both in India, and elsewhere. Our growth initiatives in Mumbai and UP continue to deliver results, and all our digital businesses have shown robust growth. We are confident that our diversified business model, established brands and sustained focus on cost reduction will continue to create value for all stakeholders and also show better results as the macroeconomic environment improves.”