ITV

Tag: profit

  • Pocket FM’s Rs 1,000 crore revenue milestone: Growth soars 500 per cent YoY

    Pocket FM’s Rs 1,000 crore revenue milestone: Growth soars 500 per cent YoY

    Mumbai: Imagine a world where your favorite stories come alive—not on screens, but in your ears, whispering adventures and drama as you multitask through life. When binge-watching wasn’t an option, Pocket FM became your storytelling savior, transforming mundane chores and long commutes into thrilling escapades. Today, the platform that brought you gripping audio series at the tap of a finger is basking in the spotlight, shattering records with its meteoric rise.

    In an extraordinary leap, Pocket FM has surged past the Rs 1,000 crore revenue milestone in FY 2024, marking an awe-inspiring 496 per cent year-on-year growth from Rs 176.36 crore in FY 2023. This groundbreaking success cements the company’s status as a trailblazer, combining innovative storytelling, microtransactions, and global ambition to rewrite the rules of entertainment. As it inches closer to profitability, Pocket FM’s journey serves as an inspiring masterclass in turning sound waves into success stories.

    Pocket FM reported a global revenue of Rs 1,051.97 crore, bolstered by significant growth in subscription and advertising revenue. This rapid expansion comes alongside a 21 per cent reduction in global losses, from Rs 208 crore in FY 2023 to Rs 165 crore in FY 2024, highlighting its strategic push towards operational efficiency.

    Financial highlights: A year of remarkable transformation

    Subscription Revenue Growth:
    The platform’s subscription revenue skyrocketed, increasing nearly sixfold from Rs 160.05 crore in FY 2023 to Rs 934.73 crore in FY 2024. This growth reflects the platform’s ability to build a thriving community of paid users, largely driven by its innovative microtransaction model.

    Advertising Revenue Expansion:
    Advertising revenue increased over seven times, from Rs 12.5 crore to Rs 89.34 crore, underscoring the platform’s growing attractiveness for advertisers.

    Enhanced Operational Efficiency:
    Pocket FM’s expense-to-earnings ratio improved significantly, from 2.18 in FY 2023 to 1.16 in FY 2024, illustrating the company’s disciplined approach to cost optimisation.

    Loss Reduction:
    Losses decreased by Rs 43 crore, down from Rs 208 crore in FY 2023 to Rs 165 crore in FY 2024, reinforcing the company’s commitment to profitability.

    Pocket FM

    Pocket FM has reshaped entertainment through its serialised audio storytelling model. Over 30 audio series have each surpassed the Rs 10 crore revenue milestone, with seven series crossing Rs 100 crore—a testament to the platform’s robust content pipeline. Additionally, the platform leveraged artificial intelligence (AI) to produce over 40,000 audio series, contributing Rs 25 crore to its revenue.

    With over 100 billion minutes of streaming powered by its 200-million-strong listener community, the platform has also recorded 45 million transactions through its microtransactions model.

    While India remains a core market, Pocket FM is making aggressive strides in global markets like the United States, Europe, and Latin America. The company’s investments in localised content, advanced technology, and strategic user acquisition have bolstered its international footprint, positioning it as a global leader in entertainment innovation.

    “This growth reflects our relentless efforts to redefine the entertainment landscape. With a sharp focus on leveraging AI, we are not only enhancing operational efficiency but also creating smarter processes that optimise content delivery and monetisation. Our vision remains clear: to establish Pocket FM as a global entertainment platform that consistently pushes the boundaries of content experiences.” said Pocket FM, CFO, Anurag Sharma.

    Anurag sharma

    Pocket FM’s success is an inspiring example of a tech-driven company prioritising scalability while staying on the path to profitability. As it continues to redefine the entertainment landscape, the company’s disciplined growth strategy, innovative storytelling approach, and global ambitions place it on an upward trajectory in the ever-evolving world of digital content.

  • Netflix recovers with 2.4 mn subscriber gain in Q3

    Netflix recovers with 2.4 mn subscriber gain in Q3

    Mumbai: In the third quarter ending September 30, 2022, Netflix reported 2.41 million net new paid subscribers. It now has 223.1 million paid subscribers globally. Earlier, the expectation was to gain one million subscribers. The expectation for Q4 is 4.5 million paid net additions versus 8.3 million in Q4 2021.

    The company said that after a challenging first half, it believes that it is on a path to reaccelerate growth. The key, it says, lies in pleasing members. Its focus has always rested on winning the competition for viewing every day. When its series and movies excite members, they tell their friends, and then more people watch, join, and stay with the platform.

    Speaking about competition, it said that while competitors are investing heavily to drive subscribers and engagement, building a large, successful streaming business is hard. Netflix estimates that they are all losing money, with combined 2022 operating losses of well over $10 billion, versus Netflix’s five to six billion dollars annual operating profit.

    For incumbent entertainment companies, this high level of investment is understandable given the accelerating decline of linear TV, which currently generates the bulk of their profit. Ultimately, though, Netflix believes that some of its competitors will seek to build sustainable, profitable businesses in streaming—either on their own or through continued industry consolidation. While it’s early days, we are starting to see this increased profit focus—with some raising prices for their streaming services, some reigning in content spending, and some retrenching around traditional operating models which may dilute their direct-to-consumer offering. Amidst this formidable and diverse set of competitors, it believes that its focus as a pure-play streaming business is an advantage. Netflix explains that its aim remains to be the first choice in entertainment and to continue to build an amazingly successful and profitable business.

    Netflix said that it operates in a highly competitive industry where people have many different entertainment choices—from linear TV to streaming, YouTube to TikTok, and gaming to social media. The silver lining is that the opportunity is very large and growing, and Netflix is still very small relative to that opportunity (for example, eight per cent of total TV time in the US and the UK, two of its most established countries). Its annual revenue of $30 billion or more in the 190 countries in which it operates is roughly five per cent of the combined estimated $300 billion pay TV/streaming industry, $180 billion branded advertising market, and $130 billion consumers spend annually on gaming. So, Netflix believes that it has a long runway for growth if it can continue to improve its offering steadily over time.

    Netflix also stated that its six per cent year-over-year revenue growth in Q3 was driven by a five per cent increase in average paid memberships and a one per cent increase in average revenue per membership (ARM). Excluding the impact of foreign exchange (F/X), revenue and ARM grew 13 per cent and eight per cent year-over-year, respectively. The sequential decline in revenue was entirely due to F/X.

    In the third quarter of the fiscal year in the Asia Pacific region, revenue grew by 19 per cent, excluding F/X, as average paid memberships rose 23 per cent year-over-year. ARM fell three per cent year on year, excluding F/X, owing in part to lower ARM in India. This was somewhat offset by higher ARM in Australia and Korea. It added 1.4 million paid memberships in the region (versus 2.2 million in the last Q3).

    Excluding F/X, EMEA revenue and ARM grew 13 per cent and seven per cent, respectively. Paid net additions totaled 0.6 million, down from 1.8 million in the previous quarter. In Latin America, revenue increased 19 per cent year-over-year, supported by ARM growth of 16 per cent vs. the year ago quarter excluding F/X. It added 0.3 million paid memberships, in line with membership growth in Q3’21. ARM and revenue grew by 12 per cent and 11 per cent, respectively, in the US and Canada, which is its most penetrated market. Paid net adds totalled 0.1 million (similar to the 0.1 million in Q3’21).

    For Q4 of 2022, it is expecting revenue of $7.8 billion, with the sequential decline entirely due to the continued strengthening of the US dollar vs. other currencies. On a constant currency basis, this equates to nine per cent year-over-year revenue growth. The revenue growth forecast is driven by the expectation of 4.5 million paid net ads (vs. 8.3 million in Q4 ’21) and ARM growth of six per cent year-over-year, excluding F/X. The paid net adds forecast assumes that it experiences its usual seasonality as well as the impact of a strong content slate, counterbalanced by macroeconomic weakness, which leads to less-than-normal visibility. While it is very optimistic about the new advertising business, the company does not expect a material contribution in Q4 2022 as it is launching its Basic with Ads plan intra-quarter and anticipates gradually growing its membership in that plan. Its aim is to give prospective new members more choice—not switch members off from their current plans.

    Members who don’t want to change will remain on their current plan, without ads, at the current price, the company explains. It has forecasted a Q4 2022 operating margin of four per cent compared to eight per cent in the year-ago period. The fourth quarter is typically its lowest operating margin quarter of the year as it is usually its largest quarter in terms of content and marketing spend.

  • The Quint records its highest ever revenue of Rs 9.5 cr for Q2

    The Quint records its highest ever revenue of Rs 9.5 cr for Q2

    Mumbai: Quint Digital Media published its results for the quarter and half-year ended 30 September.

    With the increased economic activity, the digital-first news operator said it has witnessed a faster and more wide-scale digital adoption across different sectors of the economy leading to a robust growth in revenue and profitability.

    The company witnessed a strong Q2 FY22 (21 September) performance with the revenues shooting up by over 50 per cent as compared with Q1 FY22 (21 June).  On a year-on-year basis, the revenues increased by over 80 per cent as compared with Q2 FY20 (20 September 2020).

    On a half-yearly basis, the revenues grew by over 90 per cent over the same period during FY 21 and the EBITDA witnessed a positive swing by more than 400 per cent

    The quarter also witnessed The Quint continue its earnings growth with an EBITDA level of Rs 4.50 cr – a complete upturn in performance as compared with Q2 FY21 (20 September) which saw an EBITDA level of Rs 1.03 cr.

    The company also disclosed that the digital properties had nearly 16.03 million subscribers/followers across various platforms at the end of Q2.

  • 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.

  • 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.

  • 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.

  • Colgate-Palmolive Q4 net profit rises 54% to Rs 314 cr

    Colgate-Palmolive Q4 net profit rises 54% to Rs 314 cr

    New Delhi: Riding on higher sales, FMCG major Colgate-Palmolive India reported a 54.1 per cent jump in its net profit at Rs 314.6 crore for the quarter ended 31 March. The company had posted a net profit of ₹204.15 crore in the January-March quarter a year ago.

    It’s net sales went up by 20.2 per cent to ₹1,275.01 crores during the quarter under review, as against ₹1,062.35 crore in the year-ago period, the FMCG major said in a regulatory filing.

    Colgate-Palmolive (India), managing director Ram Raghavan said the company continues to witness strong momentum across all categories.

    “Our focused approach to executing our strategic initiatives has been instrumental in our continued abilities to sustain our growth momentum versus year ago as well as on a sequential basis. Our strong discipline on driving efficiencies continue to hold us in good stead as we make strong progress across key financial metrics on the P&L,” said Raghavan, adding that the company continues to amplify its innovation focus.

    The oral hygiene product maker’s recent launches include Colgate Toothpaste for Diabetics, Colgate Vedshakti Spray and Oil Pulling. Other initiatives across its portfolio include the launch of Colgate Magik, the first augmented reality toothbrush that makes brushing fun.

  • NDTV reports profit for fourth quarter

    MUMBAI: NDTV Group has recorded a net profit of Rs. 5 crore for the quarter compared to a loss of Rs. 1 crore in the same quarter previous year.

    NDTV Group’s costs as a part of strategic initiatives have gone down significantly by 17% from Rs. 164 crore in same quarter previous year to Rs. 137 crore in the current quarter.

    The EBITDA has increased by Rs. 15.4 crore from Rs. 8.3 crore in same quarter previous year to Rs. 23.7 crore in the current quarter.

    NDTV’s Hindi news channel “NDTV India”, the only non-tabloid Hindi news channel in India, has made a profit of Rs.7 crore in this quarter.
     

    public://ndtv.jpg

    NDTV Convergence, NDTV’s digital arm, has posted a 100% jump in net profit to Rs. 8 crore for the quarter compared to Rs. 4 crore in the same quarter previous year.

    NDTV.com now has 120 million unique visitors and page views exceeding 1 billion each month.

    Gadgets360.com (Red Pixels Ventures Ltd) had an operational break even (after tax in its first full year of operation before a one-off expense). Gadgets360’s content play continues to be the dominant player in gadget news and reviews, with more than twice the unique users compared with its nearest competitor.

  • Q2-16-Radaan YoY revenue up 3.3%; EBIDTA up 18.7%

    Q2-16-Radaan YoY revenue up 3.3%; EBIDTA up 18.7%

    BENGALURU: Radaan Media Works India Limited (Radaan) reported a 3.3 per cent YoY increase for its Total Income for Operations (TIO) in the quarter ended 30 September, 2015 (Q2-2016, current quarter) at Rs 822.63 lakh as compared to Rs 796.08 lakh. QoQ, TIO increased 4.2 per cent from Rs 789.58 lakh.

     

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

    The numbers in this report are mentioned in Rs Lakh.

     

    The company’s operating profit (EBIDTA) in the current quarter increased 18.7 per cent YoY to Rs 74.3 lakh (nine per cent margin) from Rs 62.59 lakh (7.9 per cent margin) and increased 7.9 per cent QoQ from Rs 68.85 lakh (8.7 per cent margin).

     

    Profit after Tax (TAX) in Q2-2016 increased 35.1 per cent YoY to Rs 27.61 lakh (3.4 per cent margin) from Rs 20.44 lakh (2.6 per cent margin) and increased 27.1 per cent QoQ from Rs 21.72 lakh (2.8 per cent margin).

     

    Total Expenditure in the current quarter increased 1.8 per cent to Rs 764.29 lakh (92.9 per cent of TIO) as compared to the Rs 750.64 lakh (94.3 per cent of TIO) in Q2-2015 and was 3.7 per cent more than the Rs 737.29 lakh (93.4 per cent of TIO) in Q1-2016.

     

    Radaan’s expenses of tele-serials, events, etc in Q2-2016 increased 4.7 per cent to Rs 645.21 lakh (78.4 per cent of TIO) as compared to the Rs 616.20 lakh (77.4 per cent of TIO) in the corresponding year ago quarter and was 1.9 per cent more than the Rs 633.32 lakh (80.2 per cent of TIO).

     

    Employee Benefits Expense in the current quarter declined 2.7 per cent YoY to Rs 56.81 lakh (6.9 per cent of TIO) from Rs 58.38 lakh (7.3 per cent of TIO), but increased 9.3 per cent QoQ from Rs 51.96 lakh (6.6 per cent of TIO).

     

    Finance costs in theQ2-2016 increased 22.9 per cent to Rs 30.73 lakh (3.7 per cent of TIO) from Rs 25 lakh (3.1 per cent of TIO) in Q2-2015 and increased 0.5 per cent from Rs 30.57 lakh (3.9 per cent of TIO) in Q1-2015.

  • Eros International Q1 FY15 Net Profit Jumps 22.2 per cent to Rs 358 million

    Eros International Q1 FY15 Net Profit Jumps 22.2 per cent to Rs 358 million

    MUMBAI: Eros International Media Limited (Eros International), a leading global Company in the Indian film entertainment industry, today announced its consolidated financial results for the quarter ended June 30, 2014 (Q1 FY2015).

     

    Financial Highlights:

     

    CONSOLIDATED RESULTS FOR Q1 FY2015

     

    ·         Total Income increased by 26.0% to Rs. 2,446.1 million (Rs. 1,942.1 million in Q1 FY2014)

     

    ·         EBIT increased by 29.9% to Rs. 599.3 million (Rs. 461.3 million in Q1 FY2014)

     

    ·         Profit after tax (after minority) increased by 22.2% to Rs. 358.4 million (Rs. 293.4 million in Q1 FY2014)

     

    ·         Diluted EPS stood at Rs. 3.88 (Rs. 3.19 in Q1 FY2014)

     

    Executive Comment:

     

    Eros International Media MD Sunil Lulla said, “The fiscal year commenced on a positive note led by healthy performance of our film portfolio across revenue streams along with the ongoing monetization of library films. We continue to work towards expanding our film content through a diversified approach of acquiring a mix of high, medium and low budget movies across Hindi and other regional languages.

     

    We are focused on driving our new media content distribution strategy through ErosNow and took various strategic initiatives to further strengthen the platform. The acquisition of a controlling stake in Techzone, a leading mobile value added services provider, brings on board expertise in technology and solid distribution reach of mobile digital content. Our partnership with Hathway Cable to launch a subscription based movie streaming service will enable their broadband subscribers to watch our library films from the ErosNow platform.

     

    Given our well-defined business model, unique offerings and an extensive film library, we are best positioned to leverage existing and emerging opportunities in the Indian Media and Entertainment industry.” 

     

    Highlights: 

     

    ·         9 films released during Q1 FY2015: Including 5 Hindi and 4 Tamil films as compared to 12 films during Q1 FY 2014, which included 7 Hindi, 5 Tamil and other regional language films.

     

    o    Of the total movies released during the quarter, 1 movie was high budget & 8 were medium & low budget movies. 

     

    ·         Strong financial performance: Revenues during Q1 FY2015 were primarily driven through library film monetization across multiple platforms and the release of new movies in Hindi, Tamil and other regional languages.

     

    o    The Company is witnessing growth in new platforms for monetization of catalogue movies along with increasing demand on existing platforms.

     

    o    Kochadaiiyaan, a high profile movie starring Rajinikanth, also contributed positively to overall performance through various revenues streams. In-line with the Company’s de-risking strategy, the movie registered strong pre-sales from satellite rights in multiple languages, audio and music rights exploitation, brand tie ups and others. 

     

    ·         Acquisition of Techzone: Eros International acquired a controlling stake in Techzone, a leading mobile value added services provider.

     

    o    Techzone has executed an average of 25 million SMS, WAP or IVR transactions per month over the past three years across 12 major telecom operators in India and bills the customers directly through its billing platform.

     

    o    The acquisition is in sync with Eros International’s focus on building its new media content distribution strategy through ErosNow to participate in the massive opportunity which exists in India with 870 million mobile subscribers (including over 60 million internet enabled smart phones) as of year-end 2013. 

     

    ·         ErosNow’s partnership with Hathway Cable: ErosNow, the Company’s dedicated online entertainment platform offering full length movies and music videos, launched a movie streaming service ‘Broadband Movies’, in partnership with Hathway Cable, one of the leading cable television services provider in India.

     

    o    The streaming service will enable Hathway Broadband customers to watch high quality movies from the ErosNow platform on multiple devices like smart- TVs, PCs, laptops, tablets and mobiles.

     

    o    The subscription-based service will be available to Hathway Broadband customers across India. 

     

    ·         Eros Plc follow on equity offering:  Eros Plc successfully closed a follow- on equity offering on July 15, 2014.

     

    o   The Company has received US$ 90 million as net proceeds from this offering based on the offer price of US$ 14.50 per share.