ITV

Tag: Q2-17

  • Sun TV posts improved y-o-y numbers for Q2-17

    Sun TV posts improved y-o-y numbers for Q2-17

    BENGALURU: Sun TV Network Limited (Sun TV) reported improved numbers across all important parameters for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding year ago quarter (Q2-16).

    Sun TV reported 10.4 per cent higher year-over-year (y-o-y) revenue in the current quarter at Rs 625.49 crore as compared to Rs 567.55 crore in Q2-16.

    Revenue growth in Q2-17 was led by a 17 per cent y-o-y increase in subscription revenue at Rs 228.55 crore from Rs 195.32 crore, and a two per cent y-o-y increase in advertisement revenue at Rs 309.43 crore as compared to Rs 302.93 crore.

    The company’s Profit after tax or PAT improved 21.7 per cent y-o-y to Rs 270.35 crore (43.2 per cent margin) as compared to Rs 222.07 crore (39.1 per cent margin).

    Sun TV EBIDTA in the current quarter was Rs 466.32 crore (74.6 per cent EBIDTA margin), 8.3 per cent higher as compared to Rs 430.52 crore (75.9 per cent EBIDTA margin) in Q2-16.

    Total Expenditure (TE) in the current quarter increased 3 per cent to Rs 262.20 crore (41.9 per cent of TIO) as compared to Rs 254.61 crore (44.9 per cent of TIO) in the corresponding quarter of the previous year.

    Employee Remuneration and Benefits Expense (EBE) in Q2-17 increased 21.2 per cent to Rs 71.83 crore (11.5 per cent of TIO) as compared to Rs 59.27 crore (10.4 per cent of TIO) in Q2-16.

    Other expenses (OE) in the Q1-17 was 9.7 per cent higher at Rs 36.01 crore (5.8 per cent of TIO) as compared to Rs 32.83 crore (5.8 per cent of TIO) in the corresponding quarter of the previous year.

    IPL Franchisee Sun Risers Hyderabad

    Sun TV has paid franchisee fees for its IPL team SunRisers Hyderabad (SRH) of Rs 85.48 crore in Q1-17 as compared to Rs 85.05 crore in the first quarter of FY-16.

    The results of the half year ended 30 September 2016 (HY1-17) include IPL revenue of Rs 143.90 crore as compared to Rs 96.5 crore in HY1-16 and expenses of Rs 175.02 crore and Rs 143.25 crore for HY1-17 and HY-16 respectively.

    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.

  • Lower TV segment revenue adds to Saregama Q2-17 numbers downturn

    Lower TV segment revenue adds to Saregama Q2-17 numbers downturn

    BENGALURU: Indian custodians of music company Saregama Limited (Saregama) reported 14.2 per cent year-over-year (y-o-y) and 0.9 per cent quarter-over-quarter (q-o-q) declines in total income from operations (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter). The company reported TIO of Rs 47.90 crore in Q2-17, Rs 55.80 crore in Q2-16 and Rs 48.33 crore in Q1-17. The company also saw a decline in Net Sales revenue as well as License Fees revenue in the current quarter.

    The company’s profit after tax (PAT) in Q2-17 declined to less than half (1/2.25 times) y-o-y to Rs 1.15 crore (2.4 per cent margin) from Rs 2.59 crore (4.6 per cent margin) and declined 34.7 per cent q-o-q from Rs 1.76 crore (3.6 per cent margin). EBIDTA including other income in Q2-17 declined 26.8 per cent y-o-y to Rs 4.06 crore and declined 12.1 per cent q-o-q from Rs 4.62 crore.

    The company has two segments – Music and Television Serials (TV).

    Music segment reported 5.2 per cent y-o-y decline in operating revenue to Rs 31.23 crore from Rs 39.24 crore and declined 2.7 per cent q-o-q from Rs 32.11 crore. Music segment reported 44.4 per cent y-o-y decline in operating profit to Rs 6.1 crore in the current quarter from Rs 32.94 crore and 45.8 per cent q-o-q decline from Rs 11.25 crore.

    Saregama’s TV segment reported 27.1 per cent y-o-y decline in operating revenue in Q2-17 to Rs 16.67 crore from Rs 22.86 crore, but a 2,8 per cent q-o-q increase from Rs 16.22 crore. TV segment operating profit declined 53.9 per cent y-o-y to Rs 1.61 crore from Rs 3.49 crore and declined 35.6 per cent q-o-q from Rs 2.50 crore.

    Let us look at the other numbers reported by Saregama

    Saregama also reports revenue from three streams –‘Net Sales Income’, ‘License Fee’, and ‘Other’. Net Sales Income in Q2-17 declined 23.1 per cent y-o-y to Rs 17.93 crore (37.4 per cent of TIO) from Rs 23.31 crore (41.8 per cent of TIO), but increased 5 per cent q-o-q from Rs 17.08 crore (35.3 per cent of TIO).

    License Fees income in the current quarter declined 7.9 per cent y-o-y to Rs 29.89 crore (62.4 per cent of TIO) from Rs 32.44 crore (58.1 per cent of TIO) and declined 4.1 per cent from Rs 31.18 crore (64.5 per cent of TIO) in Q2-16.

    Other Income in the current quarter was Rs 0.08 crore; Rs 0.05 crore in Q2-16; and Rs 0.07 crore in the immediate trailing quarter.

    Saregama’s Total Expense in the current quarter at Rs 48.76 crore (101.8 per cent of TIO) was 9.9 per cent less than the Rs 54.14 crore (97 per cent of TIO) in Q2-16, but was 7.0 per cent more than the Rs 48.33 crore (94.3 per cent of TIO) in Q1-17.

    The company’s Royalty Fee expense in Q2-17 at Rs 4.25 crore (8.9 per cent of TIO) declined 20.4 per cent y-o-y from Rs 5.34 crore (9.6 per cent of TIO) but increased 1.2 per cent q-o-q from Rs 4.20 crore (8.7 per cent of TIO).

    Saregama’s advertising and sales promotion expense in Q2-17 at Rs 4.74 crore (9.9 per cent of TIO) increased 12.9 per cent y-o-y from Rs 4.20 crore (7.5 per cent of TIO) and increased 3.7 per cent q-o-q from Rs 4.57 crore (9.5 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 8.98 crore (18.7 per cent of IO) was 21.3 per cent lower than the Rs 11.41 crore (20.4 per cent of TIO) in Q2-16 but 0.8 per cent more than the Rs 8.91 crore (18.94 per cent of TIO) in the immediate trailing quarter.

  • Lower TV segment revenue adds to Saregama Q2-17 numbers downturn

    Lower TV segment revenue adds to Saregama Q2-17 numbers downturn

    BENGALURU: Indian custodians of music company Saregama Limited (Saregama) reported 14.2 per cent year-over-year (y-o-y) and 0.9 per cent quarter-over-quarter (q-o-q) declines in total income from operations (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter). The company reported TIO of Rs 47.90 crore in Q2-17, Rs 55.80 crore in Q2-16 and Rs 48.33 crore in Q1-17. The company also saw a decline in Net Sales revenue as well as License Fees revenue in the current quarter.

    The company’s profit after tax (PAT) in Q2-17 declined to less than half (1/2.25 times) y-o-y to Rs 1.15 crore (2.4 per cent margin) from Rs 2.59 crore (4.6 per cent margin) and declined 34.7 per cent q-o-q from Rs 1.76 crore (3.6 per cent margin). EBIDTA including other income in Q2-17 declined 26.8 per cent y-o-y to Rs 4.06 crore and declined 12.1 per cent q-o-q from Rs 4.62 crore.

    The company has two segments – Music and Television Serials (TV).

    Music segment reported 5.2 per cent y-o-y decline in operating revenue to Rs 31.23 crore from Rs 39.24 crore and declined 2.7 per cent q-o-q from Rs 32.11 crore. Music segment reported 44.4 per cent y-o-y decline in operating profit to Rs 6.1 crore in the current quarter from Rs 32.94 crore and 45.8 per cent q-o-q decline from Rs 11.25 crore.

    Saregama’s TV segment reported 27.1 per cent y-o-y decline in operating revenue in Q2-17 to Rs 16.67 crore from Rs 22.86 crore, but a 2,8 per cent q-o-q increase from Rs 16.22 crore. TV segment operating profit declined 53.9 per cent y-o-y to Rs 1.61 crore from Rs 3.49 crore and declined 35.6 per cent q-o-q from Rs 2.50 crore.

    Let us look at the other numbers reported by Saregama

    Saregama also reports revenue from three streams –‘Net Sales Income’, ‘License Fee’, and ‘Other’. Net Sales Income in Q2-17 declined 23.1 per cent y-o-y to Rs 17.93 crore (37.4 per cent of TIO) from Rs 23.31 crore (41.8 per cent of TIO), but increased 5 per cent q-o-q from Rs 17.08 crore (35.3 per cent of TIO).

    License Fees income in the current quarter declined 7.9 per cent y-o-y to Rs 29.89 crore (62.4 per cent of TIO) from Rs 32.44 crore (58.1 per cent of TIO) and declined 4.1 per cent from Rs 31.18 crore (64.5 per cent of TIO) in Q2-16.

    Other Income in the current quarter was Rs 0.08 crore; Rs 0.05 crore in Q2-16; and Rs 0.07 crore in the immediate trailing quarter.

    Saregama’s Total Expense in the current quarter at Rs 48.76 crore (101.8 per cent of TIO) was 9.9 per cent less than the Rs 54.14 crore (97 per cent of TIO) in Q2-16, but was 7.0 per cent more than the Rs 48.33 crore (94.3 per cent of TIO) in Q1-17.

    The company’s Royalty Fee expense in Q2-17 at Rs 4.25 crore (8.9 per cent of TIO) declined 20.4 per cent y-o-y from Rs 5.34 crore (9.6 per cent of TIO) but increased 1.2 per cent q-o-q from Rs 4.20 crore (8.7 per cent of TIO).

    Saregama’s advertising and sales promotion expense in Q2-17 at Rs 4.74 crore (9.9 per cent of TIO) increased 12.9 per cent y-o-y from Rs 4.20 crore (7.5 per cent of TIO) and increased 3.7 per cent q-o-q from Rs 4.57 crore (9.5 per cent of TIO).

    Employee Benefit Expense in the current quarter at Rs 8.98 crore (18.7 per cent of IO) was 21.3 per cent lower than the Rs 11.41 crore (20.4 per cent of TIO) in Q2-16 but 0.8 per cent more than the Rs 8.91 crore (18.94 per cent of TIO) in the immediate trailing quarter.

  • Pictures, Music and Financial Services prop Sony’s sagging Q2-17 revenue

    Pictures, Music and Financial Services prop Sony’s sagging Q2-17 revenue

    BENGALURU: Sony Corporation (Sony) reported 10.8 per cent drop in sales and operating (sales) revenue for the quarter ended 30 September 2016 (Q2-17, current quarter) vis-à-vis the corresponding year ago quarter. Sony reported sales of ¥1,688.9 billion for the current quarter as compared to ¥1,892.7 billion in Q2-16. The company says that the decrease was mainly due to the impact of foreign exchange rates.

    On a constant currency basis, sales were essentially flat year-on-year, due to a decrease in Mobile Communications (MC) segment sales reflecting a significant decrease in smartphone unit sales, substantially offset by an increase in revenues in the Financial Services segment, as well as an increase in sales in the Pictures segment. The company’s Music segment also reported a year-over-year (y-o-y) improvement in revenues for the current quarter.

    Operating income decreased ¥42.3 billion year-on-year to ¥45.7 billion. This decrease was mainly due to the deterioration of operating results in the Semiconductors and Components segments, partially offset by improvements in the Pictures and MC segments says the Sony. Net income attributable to Sony’s stockholders decreased ¥28.7 billion y-o-y to ¥4.8 billion.

    Business segments

    Mobile Communications

    Sales decreased 39.6 per cent y-o-y in Q2-17 (a 34 per cent decrease on a constant currency basis) to ¥168.8 billion from ¥279.2 billion. The company says that this decrease was mainly due to a reduction in mid-range smartphone unit sales, as well as a reduction in smartphone unit sales in unprofitable regions where downsizing measures were implemented during the previous fiscal year, partially offset by an improvement in the product mix of smartphones as a result of a concentration on high value-added models.

    Operating income of ¥3.7 billion was recorded, compared to an operating loss of ¥20.6 billion recorded in the same quarter of the previous fiscal year. Despite the effect of the above-mentioned decrease in sales, profitability improved significantly due to cost reductions, mainly resulting from the benefit of restructuring initiatives, an improvement in product mix, the positive impact of foreign exchange rates and a decrease in restructuring charges. During the current quarter, there was a ¥5.4 billion positive impact from foreign exchange rate fluctuations (net of the impact of foreign exchange hedging).

    Imaging Products & Solutions (IP&S)

    The segment’s sales decreased 25.2 per cent y-o-y (a 14 per cent decrease on a constant currency basis) to ¥135.4 billion from ¥180.9 billion. This decrease in sales was mainly due to lower sales of Still and Video Cameras, primarily reflecting a contraction of the market and the difficulty of procuring components due to the 2016 Kumamoto Earthquakes, as well as the impact of foreign exchange rates, partially offset by an improvement in the product mix of Still and Video Cameras, reflecting a shift to high value-added models.

    Operating income decreased ¥8.2 billion y-o-y to ¥14.9 billion from ¥23.9 billion. This decrease was mainly due to the impact of the above-mentioned decrease in sales and the negative impact of foreign exchange rates, partially offset by such factors as the above-mentioned improvement in product mix and a reduction of fixed costs. During the current quarter, there was a ¥9.5 billion negative impact from foreign exchange rate fluctuations.

    Home Entertainment & Sound (HE&S)

    HE&S Sales decreased 18.7 per cent y-o-y (a 5 per cent decrease on a constant currency basis) to ¥234.9 billion. This was primarily due to the impact of foreign exchange rates and a decrease in home audio and video unit sales reflecting a contraction of the market.
    Operating income increased ¥1.8 billion y-o-y in Q2-17 to ¥17.6 billion yen from ¥15.8 billion. This increase was primarily due to an improvement in product mix reflecting a shift to high value-added models and cost reductions, partially offset by the negative impact of foreign exchange rates as well as the above-mentioned decrease in sales. During the current quarter, there was a ¥6.0 billion negative impact from foreign exchange rate fluctuations.

    Semiconductors

    Semiconductors sales in Q2-17 decreased 5.0 per cent y-o-y (a 12 per cent increase on a constant currency basis) to ¥193.7 billion from ¥203.9 billion. This decrease was primarily due to a decrease in sales of image sensors, reflecting the impact of foreign exchange rates, partially offset by an increase in the unit sales of image sensors for mobile products. Sales to external customers increased 1.1 per cent y-o-y.

    Operating loss of ¥4.2 billion) was recorded, compared to operating income of ¥34.1 billion recorded in the same quarter of the previous fiscal year. This deterioration was primarily due to the negative impact of foreign exchange rates and ¥9.4 billion in inventory write-downs of certain image sensors for mobile products, partially offset by the above-mentioned increase in the unit sales of image sensors for mobile products. Operating loss in the current quarter includes the net expense of 1.2 billion yen resulting from the 2016 Kumamoto Earthquakes. During the current quarter, there was a ¥19.7 billion negative impact from foreign exchange rate fluctuations.

    Components

    Sales decreased 23.7 per cent y-o-y (an 11 per cent decrease on a constant currency basis) to ¥46.7 billion. This decrease was primarily due to the impact of foreign exchange rates and a decrease in sales in the battery business due to increasingly competitive markets.
    Operating loss increased ¥35.1 billion y-o-y to ¥36.6 billion. This increase was primarily due to a ¥32.8 billion yen impairment charge related to the planned transfer of the battery business. During the current quarter, there was a ¥1.6 billion negative impact from foreign exchange rate fluctuations.

    Pictures

    Pictures sales increased 4.6 per cent y-o-y (a 25 per cent increase on a U.S. dollar basis) to ¥192.1 billion. The increase in sales on a US dollar basis was due to higher sales for Motion Pictures, Television Productions and Media Networks. The increase in Motion Pictures sales was primarily due to higher theatrical revenues from films released in the current quarter including Ghostbusters, Sausage Party and Don’t Breathe. Sales in Television Productions increased significantly due to higher subscription video-on-demand licensing revenues for The Crown and The Get Down. Media Networks sales increased primarily due to higher advertising and subscription revenues in India, Europe and Latin America.

    Operating income of ¥3.2 billion was recorded, compared to an operating loss of ¥22.5 billion recorded in the same quarter of the previous fiscal year. This significant improvement in operating results was primarily due to the above-mentioned increase in sales.

    Music

    Music Sales increased 8.0 per cent y-o-y (a 19 per cent increase on a constant currency basis) to ¥150.2 billion from ¥139.1 billion. The increase in sales was primarily due to an increase in sales of Visual Media and Platform as well as Recorded Music, partially offset by the negative impact of the appreciation of the yen against the US dollar. Visual Media and Platform sales increased due to the strong performance of Fate/Grand Order, a game application for mobile devices. Recorded Music sales increased primarily due to an increase in digital streaming revenues. Best-selling titles included Celine Dion’s Encore un soir, Nogizaka46’s Hadashi de Summer and Kana Nishino’s Just Love.

    Operating income increased ¥2.3 billion y-o-y to ¥16.5 billion. This increase was primarily due to the higher sales of Recorded Music as well as Visual Media and Platform above, partially offset by the negative impact of the appreciation of the yen against the US dollar.

    Financial Services

    Financial services revenue increased 23.6 per cent yo-y to ¥260.5 billion primarily due to a significant increase in revenue at Sony Life. Revenue at Sony Life increased 29.9 per cent y-o-y to ¥230.8 billion due to an improvement in investment performance in the separate account. This improvement was mainly due to a rise in the Japanese stock market during the current quarter, as compared with a decline in the same quarter of the previous fiscal year.

    Operating income decreased ¥7.6 billion y-o-y to ¥33.6 billion yen. This decrease was mainly due to a foreign exchange loss incurred at Sony Bank on foreign currency-denominated customer deposits compared to a gain in the same quarter of the previous fiscal year. Operating income at Sony Life decreased ¥3.7 billion y-o-y to ¥31.0 billion mainly due to a decline in net gains on sales of securities in the general account.

  • Pictures, Music and Financial Services prop Sony’s sagging Q2-17 revenue

    Pictures, Music and Financial Services prop Sony’s sagging Q2-17 revenue

    BENGALURU: Sony Corporation (Sony) reported 10.8 per cent drop in sales and operating (sales) revenue for the quarter ended 30 September 2016 (Q2-17, current quarter) vis-à-vis the corresponding year ago quarter. Sony reported sales of ¥1,688.9 billion for the current quarter as compared to ¥1,892.7 billion in Q2-16. The company says that the decrease was mainly due to the impact of foreign exchange rates.

    On a constant currency basis, sales were essentially flat year-on-year, due to a decrease in Mobile Communications (MC) segment sales reflecting a significant decrease in smartphone unit sales, substantially offset by an increase in revenues in the Financial Services segment, as well as an increase in sales in the Pictures segment. The company’s Music segment also reported a year-over-year (y-o-y) improvement in revenues for the current quarter.

    Operating income decreased ¥42.3 billion year-on-year to ¥45.7 billion. This decrease was mainly due to the deterioration of operating results in the Semiconductors and Components segments, partially offset by improvements in the Pictures and MC segments says the Sony. Net income attributable to Sony’s stockholders decreased ¥28.7 billion y-o-y to ¥4.8 billion.

    Business segments

    Mobile Communications

    Sales decreased 39.6 per cent y-o-y in Q2-17 (a 34 per cent decrease on a constant currency basis) to ¥168.8 billion from ¥279.2 billion. The company says that this decrease was mainly due to a reduction in mid-range smartphone unit sales, as well as a reduction in smartphone unit sales in unprofitable regions where downsizing measures were implemented during the previous fiscal year, partially offset by an improvement in the product mix of smartphones as a result of a concentration on high value-added models.

    Operating income of ¥3.7 billion was recorded, compared to an operating loss of ¥20.6 billion recorded in the same quarter of the previous fiscal year. Despite the effect of the above-mentioned decrease in sales, profitability improved significantly due to cost reductions, mainly resulting from the benefit of restructuring initiatives, an improvement in product mix, the positive impact of foreign exchange rates and a decrease in restructuring charges. During the current quarter, there was a ¥5.4 billion positive impact from foreign exchange rate fluctuations (net of the impact of foreign exchange hedging).

    Imaging Products & Solutions (IP&S)

    The segment’s sales decreased 25.2 per cent y-o-y (a 14 per cent decrease on a constant currency basis) to ¥135.4 billion from ¥180.9 billion. This decrease in sales was mainly due to lower sales of Still and Video Cameras, primarily reflecting a contraction of the market and the difficulty of procuring components due to the 2016 Kumamoto Earthquakes, as well as the impact of foreign exchange rates, partially offset by an improvement in the product mix of Still and Video Cameras, reflecting a shift to high value-added models.

    Operating income decreased ¥8.2 billion y-o-y to ¥14.9 billion from ¥23.9 billion. This decrease was mainly due to the impact of the above-mentioned decrease in sales and the negative impact of foreign exchange rates, partially offset by such factors as the above-mentioned improvement in product mix and a reduction of fixed costs. During the current quarter, there was a ¥9.5 billion negative impact from foreign exchange rate fluctuations.

    Home Entertainment & Sound (HE&S)

    HE&S Sales decreased 18.7 per cent y-o-y (a 5 per cent decrease on a constant currency basis) to ¥234.9 billion. This was primarily due to the impact of foreign exchange rates and a decrease in home audio and video unit sales reflecting a contraction of the market.
    Operating income increased ¥1.8 billion y-o-y in Q2-17 to ¥17.6 billion yen from ¥15.8 billion. This increase was primarily due to an improvement in product mix reflecting a shift to high value-added models and cost reductions, partially offset by the negative impact of foreign exchange rates as well as the above-mentioned decrease in sales. During the current quarter, there was a ¥6.0 billion negative impact from foreign exchange rate fluctuations.

    Semiconductors

    Semiconductors sales in Q2-17 decreased 5.0 per cent y-o-y (a 12 per cent increase on a constant currency basis) to ¥193.7 billion from ¥203.9 billion. This decrease was primarily due to a decrease in sales of image sensors, reflecting the impact of foreign exchange rates, partially offset by an increase in the unit sales of image sensors for mobile products. Sales to external customers increased 1.1 per cent y-o-y.

    Operating loss of ¥4.2 billion) was recorded, compared to operating income of ¥34.1 billion recorded in the same quarter of the previous fiscal year. This deterioration was primarily due to the negative impact of foreign exchange rates and ¥9.4 billion in inventory write-downs of certain image sensors for mobile products, partially offset by the above-mentioned increase in the unit sales of image sensors for mobile products. Operating loss in the current quarter includes the net expense of 1.2 billion yen resulting from the 2016 Kumamoto Earthquakes. During the current quarter, there was a ¥19.7 billion negative impact from foreign exchange rate fluctuations.

    Components

    Sales decreased 23.7 per cent y-o-y (an 11 per cent decrease on a constant currency basis) to ¥46.7 billion. This decrease was primarily due to the impact of foreign exchange rates and a decrease in sales in the battery business due to increasingly competitive markets.
    Operating loss increased ¥35.1 billion y-o-y to ¥36.6 billion. This increase was primarily due to a ¥32.8 billion yen impairment charge related to the planned transfer of the battery business. During the current quarter, there was a ¥1.6 billion negative impact from foreign exchange rate fluctuations.

    Pictures

    Pictures sales increased 4.6 per cent y-o-y (a 25 per cent increase on a U.S. dollar basis) to ¥192.1 billion. The increase in sales on a US dollar basis was due to higher sales for Motion Pictures, Television Productions and Media Networks. The increase in Motion Pictures sales was primarily due to higher theatrical revenues from films released in the current quarter including Ghostbusters, Sausage Party and Don’t Breathe. Sales in Television Productions increased significantly due to higher subscription video-on-demand licensing revenues for The Crown and The Get Down. Media Networks sales increased primarily due to higher advertising and subscription revenues in India, Europe and Latin America.

    Operating income of ¥3.2 billion was recorded, compared to an operating loss of ¥22.5 billion recorded in the same quarter of the previous fiscal year. This significant improvement in operating results was primarily due to the above-mentioned increase in sales.

    Music

    Music Sales increased 8.0 per cent y-o-y (a 19 per cent increase on a constant currency basis) to ¥150.2 billion from ¥139.1 billion. The increase in sales was primarily due to an increase in sales of Visual Media and Platform as well as Recorded Music, partially offset by the negative impact of the appreciation of the yen against the US dollar. Visual Media and Platform sales increased due to the strong performance of Fate/Grand Order, a game application for mobile devices. Recorded Music sales increased primarily due to an increase in digital streaming revenues. Best-selling titles included Celine Dion’s Encore un soir, Nogizaka46’s Hadashi de Summer and Kana Nishino’s Just Love.

    Operating income increased ¥2.3 billion y-o-y to ¥16.5 billion. This increase was primarily due to the higher sales of Recorded Music as well as Visual Media and Platform above, partially offset by the negative impact of the appreciation of the yen against the US dollar.

    Financial Services

    Financial services revenue increased 23.6 per cent yo-y to ¥260.5 billion primarily due to a significant increase in revenue at Sony Life. Revenue at Sony Life increased 29.9 per cent y-o-y to ¥230.8 billion due to an improvement in investment performance in the separate account. This improvement was mainly due to a rise in the Japanese stock market during the current quarter, as compared with a decline in the same quarter of the previous fiscal year.

    Operating income decreased ¥7.6 billion y-o-y to ¥33.6 billion yen. This decrease was mainly due to a foreign exchange loss incurred at Sony Bank on foreign currency-denominated customer deposits compared to a gain in the same quarter of the previous fiscal year. Operating income at Sony Life decreased ¥3.7 billion y-o-y to ¥31.0 billion mainly due to a decline in net gains on sales of securities in the general account.

  • Q2-17: Airtel Digital TV revenue up, sees highest subscriber growth

    Q2-17: Airtel Digital TV revenue up, sees highest subscriber growth

    BENGALURU: Indian telecom major Bharti Airtel Limited’s Digital TV Services segment (DTH segment) reported 21.9 percent year-over-year (y-o-y) increase in operating revenues for the quarter ended 30 September 2016 (Q2-17, current quarter). Also, Operating Profit (Earnings Before interest and Tax – EBIT) of the DTH segment in the current quarter more than quadrupled (by 4.11 times) y-o-y.

    Airtel DTH reported revenues of Rs 854.5 crore in Q2-17 and Rs 706.8 crore in Q2-16. EBIT for the corresponding periods was Rs 69.9 crore (8.2 percent margin of the segment’s operating revenue) and Rs 1.7 crore (2.4 percent margin of the segment’s operating revenue) respectively.

    However, quarter-over-quarter (q-o-q) the segment reported 42.7 percent drop in EBIT for the current quarter as compared to Rs 121.9 crore (14.6 percent margin of the segment’s operating revenue) in the immediate trailing quarter. Revenue in Q2-17 was 2.1 percent higher q-o-q than Rs 836.9 crore in Q1-17.

    Subscription numbers, ARPU

    Airtel’s DTH segment added 18.29 lakh subscribers between Q2-16 and Q2-17, or a 17.3 percent y-o-y increase. The company says that this is the highest growth in percentage terms over seventeen quarters. It had 124.05 lakh subscribers as on 30 September 2016. Q-o-q, the segment witnessed a 2.1 percent growth (2.56 lakh adds) in subscribers from 121.49 lakh in Q1-17.

    ARPU in Q2-17 increased to Rs 232 from Rs 224 in the corresponding year ago quarter, but declined marginally (by Re 1) from Rs 233 in the immediate trailing quarter.

    Airtel numbers

    Bharti Airtel Limited saw a 3.4 percent increase in operating revenue to Rs 24,651.5 crore in Q2-17 as compared to Rs 23,835.7 crore in Q2-16, but witnessed a 3.5 percent q-o-q decline from Rs 25,546.5 crore. Profit after tax (PAT) in the current quarter declined 4.9 percent y-o-y to Rs 1,460.7 crore (5.9 percent margin) from Rs 1,536.1 crore (6.4 percent margin) and was almost flat (0.1 percent decline) q-o-q as compared to Rs 1,462 crore (5.7 percent margin).

    The JIO effect – Company speak.

    In a statement, Airtel MD and CEO, India & South Asia, Gopal Vittal said, “Our strong focus on enhancing customer experience and building a robust network has resulted in continued acceleration of revenue market share. Overall revenue momentum in India has been sustained during Q2 with a growth of 10.1 percent y-o-y. This is primarily due to the strong performance of our non-mobile businesses which grew in aggregate at 18.8 percent y-o-y, albeit our mobile business has experienced a slowdown in growths due to free services being offered by a new operator. But, we remain excited about the long term opportunity in India and believe that with the recently acquired spectrum, we are well positioned to lead India’s data revolution”.

     

  • Q2-17: Airtel Digital TV revenue up, sees highest subscriber growth

    Q2-17: Airtel Digital TV revenue up, sees highest subscriber growth

    BENGALURU: Indian telecom major Bharti Airtel Limited’s Digital TV Services segment (DTH segment) reported 21.9 percent year-over-year (y-o-y) increase in operating revenues for the quarter ended 30 September 2016 (Q2-17, current quarter). Also, Operating Profit (Earnings Before interest and Tax – EBIT) of the DTH segment in the current quarter more than quadrupled (by 4.11 times) y-o-y.

    Airtel DTH reported revenues of Rs 854.5 crore in Q2-17 and Rs 706.8 crore in Q2-16. EBIT for the corresponding periods was Rs 69.9 crore (8.2 percent margin of the segment’s operating revenue) and Rs 1.7 crore (2.4 percent margin of the segment’s operating revenue) respectively.

    However, quarter-over-quarter (q-o-q) the segment reported 42.7 percent drop in EBIT for the current quarter as compared to Rs 121.9 crore (14.6 percent margin of the segment’s operating revenue) in the immediate trailing quarter. Revenue in Q2-17 was 2.1 percent higher q-o-q than Rs 836.9 crore in Q1-17.

    Subscription numbers, ARPU

    Airtel’s DTH segment added 18.29 lakh subscribers between Q2-16 and Q2-17, or a 17.3 percent y-o-y increase. The company says that this is the highest growth in percentage terms over seventeen quarters. It had 124.05 lakh subscribers as on 30 September 2016. Q-o-q, the segment witnessed a 2.1 percent growth (2.56 lakh adds) in subscribers from 121.49 lakh in Q1-17.

    ARPU in Q2-17 increased to Rs 232 from Rs 224 in the corresponding year ago quarter, but declined marginally (by Re 1) from Rs 233 in the immediate trailing quarter.

    Airtel numbers

    Bharti Airtel Limited saw a 3.4 percent increase in operating revenue to Rs 24,651.5 crore in Q2-17 as compared to Rs 23,835.7 crore in Q2-16, but witnessed a 3.5 percent q-o-q decline from Rs 25,546.5 crore. Profit after tax (PAT) in the current quarter declined 4.9 percent y-o-y to Rs 1,460.7 crore (5.9 percent margin) from Rs 1,536.1 crore (6.4 percent margin) and was almost flat (0.1 percent decline) q-o-q as compared to Rs 1,462 crore (5.7 percent margin).

    The JIO effect – Company speak.

    In a statement, Airtel MD and CEO, India & South Asia, Gopal Vittal said, “Our strong focus on enhancing customer experience and building a robust network has resulted in continued acceleration of revenue market share. Overall revenue momentum in India has been sustained during Q2 with a growth of 10.1 percent y-o-y. This is primarily due to the strong performance of our non-mobile businesses which grew in aggregate at 18.8 percent y-o-y, albeit our mobile business has experienced a slowdown in growths due to free services being offered by a new operator. But, we remain excited about the long term opportunity in India and believe that with the recently acquired spectrum, we are well positioned to lead India’s data revolution”.

     

  • Q2-17: Zee Learn declares maiden interim dividend

    Q2-17: Zee Learn declares maiden interim dividend

    BENGALURU: The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter). The dividend of just 5 paise (Rs 0.05) albeit small, could be  precursor of better returns, given the fact that the company’s profit after tax (PAT) for the  current quarter is more than seven-fold (7.05 times) year-over-year (y-o-y), with operating EBIDTA margins almost doubling y-o-y from 18.2 percent in Q2-16 to 34.9 percent in Q2-17.

    ZLL CEO Debshankar Mukhopadyay said, “We are pleased to announce an interim dividend for the first time at Zee Learn Limited. This shows our commitment to the shareholders who beleived in us and continued to invest in the comoany. Q2 and H1-17 are remarkable for us and our strategy to focus on our strenghts has resulted in delivering profits which are multiple times more than profits delivered during the last financial year.”

    ZLL reported PAT of Rs 7.59 crore (22.6 percent margin) for the current quarter versus PAT of Rs 1.08 crore (3.5 percent margin) in Q2-16. PAT in the immediate training quarter (Q1-17) was Rs 8.02 crore (19.1 percent margin). Operating EBIDTA in Q2-17 more than doubled (up 2.1 times) y-o-y to Rs 11.70 crore from Rs 5.57 crore, but was 9.8 percent lower q-o-q than Rs 12.97 crore (30.8 percent margin).

    Other numbers

    ZLL’s Total Income from Operations (TIO) in the current quarter increased 9.7 percent y-o-y to Rs 33.56 crore from Rs 30.60 crore in the correspondin year ago quarter, but declined 20.2 percent q-o-q from Rs 42.06 crore in Q1-17.

    The company spent 14.5 percent less y-o-y towards purchase of  Education goods and Television content in Q2-17 at Rs 4.91 crore (14.6 percent of TIO) as compared to Rs 5.74 crore (18.8 percent of TIO) and 45.1 percent lower q-o-q than the Rs 8.93 crore (21.2 percent of TIO).

    Employees Benefit Expense in the current quarter declined 18.2 percent y-o-y to Rs 5.94 crore (17.7 percent of TIO) from Rs 7.25 crore (23.7 percent of TIO) and declined 14.5 percent q-o-q from Rs 6.94 crore (16.5 percent of TIO).

    Selling and marketing expense in Q2-17 increased 18.2 percent y-o-y to Rs 3.98 crore (11.9 percent of TIO) from Rs 3.37 crore (11 percent of TIO), but declined 33 percent q-o-q from Rs  5.95 crore (14.1 percent of TIO).

    Mukhopadyay added, “ZLL through its varied forays including Early Childhood Care and Education (ECCE), K-12 Education, Youth and Vocational Education is playing a strong and transformational role in India’s education system. I am confident that ZLL will continue to grow its business and is commited to create long-term value for its franchisees, parents and students, shareholders, employees and all stakeholders.”

    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.

  • Q2-17: Zee Learn declares maiden interim dividend

    Q2-17: Zee Learn declares maiden interim dividend

    BENGALURU: The board of directors of the Essel group’s education company Zee Learn Limited (ZLL) have declared a first time ever dividend of 5 percent per equity share of Re 1 each for the quarter ended 30 September 2016 (Q2-17, current quarter). The dividend of just 5 paise (Rs 0.05) albeit small, could be  precursor of better returns, given the fact that the company’s profit after tax (PAT) for the  current quarter is more than seven-fold (7.05 times) year-over-year (y-o-y), with operating EBIDTA margins almost doubling y-o-y from 18.2 percent in Q2-16 to 34.9 percent in Q2-17.

    ZLL CEO Debshankar Mukhopadyay said, “We are pleased to announce an interim dividend for the first time at Zee Learn Limited. This shows our commitment to the shareholders who beleived in us and continued to invest in the comoany. Q2 and H1-17 are remarkable for us and our strategy to focus on our strenghts has resulted in delivering profits which are multiple times more than profits delivered during the last financial year.”

    ZLL reported PAT of Rs 7.59 crore (22.6 percent margin) for the current quarter versus PAT of Rs 1.08 crore (3.5 percent margin) in Q2-16. PAT in the immediate training quarter (Q1-17) was Rs 8.02 crore (19.1 percent margin). Operating EBIDTA in Q2-17 more than doubled (up 2.1 times) y-o-y to Rs 11.70 crore from Rs 5.57 crore, but was 9.8 percent lower q-o-q than Rs 12.97 crore (30.8 percent margin).

    Other numbers

    ZLL’s Total Income from Operations (TIO) in the current quarter increased 9.7 percent y-o-y to Rs 33.56 crore from Rs 30.60 crore in the correspondin year ago quarter, but declined 20.2 percent q-o-q from Rs 42.06 crore in Q1-17.

    The company spent 14.5 percent less y-o-y towards purchase of  Education goods and Television content in Q2-17 at Rs 4.91 crore (14.6 percent of TIO) as compared to Rs 5.74 crore (18.8 percent of TIO) and 45.1 percent lower q-o-q than the Rs 8.93 crore (21.2 percent of TIO).

    Employees Benefit Expense in the current quarter declined 18.2 percent y-o-y to Rs 5.94 crore (17.7 percent of TIO) from Rs 7.25 crore (23.7 percent of TIO) and declined 14.5 percent q-o-q from Rs 6.94 crore (16.5 percent of TIO).

    Selling and marketing expense in Q2-17 increased 18.2 percent y-o-y to Rs 3.98 crore (11.9 percent of TIO) from Rs 3.37 crore (11 percent of TIO), but declined 33 percent q-o-q from Rs  5.95 crore (14.1 percent of TIO).

    Mukhopadyay added, “ZLL through its varied forays including Early Childhood Care and Education (ECCE), K-12 Education, Youth and Vocational Education is playing a strong and transformational role in India’s education system. I am confident that ZLL will continue to grow its business and is commited to create long-term value for its franchisees, parents and students, shareholders, employees and all stakeholders.”

    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.

  • Q2-17: DB Corp revenue up, radio operating profit doubles

    Q2-17: DB Corp revenue up, radio operating profit doubles

    BENGALURU: DB Corp Limited (DB Corp), home to flagship newspapers Dainik Bhaskar, Divya Bhaskar, Dainik Divya Marathi and Saurashtra Samachar reported 10.5 percent higher consolidated revenue for the quarter ended 30 September 2016 (Q2-17, current quarter) as compared to the corresponding year ago quarter. The media house’s total income from operations (TIO or revenue) in Q2-17 was Rs 528.74 crore as compared to Rs 478.36 crore.

    DB Corp’s consolidated profit after tax (PAT) increased 55.9 percent year-over-year (y-o-y) to Rs 88.52 crore as compared to Rs 56.77 crore. However, quarter-over-quarter (q-o-q) it’s PAT declined 14.9 percent from Rs 103.96 crore in Q1-17.

    EBIDTA (excluding other income) for the current quarter increased 38.6 percent y-o-y to Rs150.55 crore as compared to Rs 108.66 crore, but declined 16.9 percent q-o-q from Rs 181.06 crore.

    Four segments contribute to DB Corp’s numbers – Printing and publishing of newspaper and periodicals (Printing) segment; Radio segment; Event segment, Internet segment; and Power segment. Its Printing and Radio segments are major contributors to the company’s top and bottomlines and have been considered here.

    Radio Segment

    DB Corp’s radio segment has an FM radio network under the brand My FM for which the company reported more than double y-o-y (2.15 times) operating profit for Q2-17 at Rs  12.97 crore as compared to Rs 6.04 percent. Q-o-q also, DB Corp’s radio segment’s operating profit was 69.1 percent higher (Rs 7.67 crore in Q1-17).  My FM operating revenue for Q2-17 was 24.6 percent higher y-o-y at Rs 29.86 crore as compared to Rs 23.96 crore and 6.4 percent higher q-o-q as compared to Rs 28.06 crore.

    Printing and publishing of newspaper and periodicals (Printing) segment

    DB Corp’s Printing segment reported revenue of Rs 483.4 crore in the current quarter as compared to the Rs 443.24 crore in Q2-16. However, q-o-q, the Printing segment’s revenue declined 8.2 percent from Rs 526.55 crore. The segment’s operating profit in the current quarter increased 37.8 percent y-o-y to Rs 129 crore as compared to Rs 93.64 crore but declined 19.7 percent q-o-q from Rs 160.73 crore.

    Other numbers

    DB Corp’s consolidated Total Expenditure for Q2-17 increased 2.4 percent y-o-y to Rs 399.75 crore as compared to Rs 390.56 crore but declined 2.4 percent q-o-q from Rs 410.33 crore. Consolidated Cost of raw materials consumed in Q2-17 increased 9.1 percent y-o-y to Rs 163.34 crore from Rs 149.69 crore and increased 1.8 percent q-o-q from Rs 160.46 crore. Consolidated Employee Benefits Expense in the current quarter increased 11.5 percent y-o-y to Rs 107.41 crore as compared to Rs 96.3 crore in Q2-16 and increased 0.6 percent q-o-q from Rs 106.77 crore. Consolidated Total comprehensive income in Q2-17 increased 53.5 percent y-o-y to Rs 85.21 crore from Rs 55,51 crore, but declined 17.9 percent q-o-q from Rs 103.8 crore.

    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.