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Tag: Q2-18

  • Balaji Telefilms reports higher programming hours and better realisation

    Balaji Telefilms reports higher programming hours and better realisation

    BENGALURU: The Ektaa Kapoor-led Balaji Telefilms Ltd reported a consolidated profit from continuing operations of Rs 7.1 crore for the quarter ended 30 September 2018 (Q2 2019, quarter or period under review) as compared to a loss of Rs 22 crore for Q2 2018 and a loss of Rs 0.6 crore in the immediate trailing quarter. The company reported 13 percent higher quarter-on-quarter (q-o-q) television content production hours or (commissioned programs segment) and a 17 percent improvement in realisation per hour for the period under review as compared to the immediate trailing quarter Q1 2019. The company produced 193 hours of commissioned television content in Q2 2019 as compared to 170.5 hours in Q1 2019. The company had produced 240 hours of commissioned television content in Q1 2018.

    Balaji Telefilms said that realisation per hour of commissioned television content during the quarter under review was almost Rs 0.4 crore as compared to about Rs 0.34 crore in Q1 2019 and Rs 0.32 crore in Q2 2018.

    Segment numbers

    The company has three segments – commissioned programs, films and digital.

    Revenue from the commissioned programs segment increased 7.4 percent y-o-y to Rs 88.41 crore during the quarter under review from Rs 82.31 crore in Q2 2018 and 26.3 percent q-o-q from Rs 70.01 crore in the immediate trailing quarter. Operating profit from the commissioned programs segment was Rs 13.25 crore in Q2 2019 as compared to Rs 10.53 crore in Q2 2018 and an operating loss of Rs 2.10 crore in Q1 2019.

    Revenue from Balaji Telefilms' films segment in Q2 2019 reduced 17 percent y-o-y to Rs 25.33 crore from Rs 30.76 crore in the corresponding year ago quarter and reduced 62.5 percent q-o-q from Rs 68.04 crore in Q1 2019. Operating profit from the films segment was Rs 1.03 crore in Q2 2019 as compared to an operating profit of Rs 6.02 crore in Q2 2018 and an operating profit of Rs 9.56 crore in Q1 2019. The company had released one film in Q1 2019 and hence the increased numbers.

    Balaji Telefilms' OTT platform ALTBalaji or digital segment reported more than ten-fold increase in revenue at Rs 14.28 crore as compared to Rs 1.23 crore in Q2 2018 and Rs 5.78 crore in Q1 2019. The segment’s operating loss reduced to Rs 11.16 crore during the period under review as compared to an operating loss of Rs 20.29 crore in Q2 2018 and an operating loss of Rs 16.28 crore in the immediate trailing quarter.

    Balaji Telefilms' consolidated revenue from operations in Q1 2019 increased 8.5 percent y-o-y to Rs 119.07 crore as compared to Rs 109.78 crore in Q2 2018, but reduced 3.5 percent q-o-q from Rs 123.44 crore in Q1 2019. Consolidated total revenue in Q2 2019 increased 9.8 percent y-o-y to Rs 128.02 crore from Rs 116.57 crore, but reduced marginally by 0.7 percent q-o-q from Rs 128.86 crore. Consolidated loss in Q2 2019 was slightly higher at Rs 15.44 crore as compared to a loss of Rs 13.84 crore, but was far lower than the Rs 27.03 crore in Q1 2019.

    Let us look at the other numbers reported by Balaji Telefilms

    Balaji Telefilms reported 13.8 percent y-o-y increase in total expenditure in Q2 2019 at Rs 142.48 crore from Rs 125.19 crore in Q2 2018. Cost of production/ acquisition and telecast fees increased 1.5 percent y-o-y to Rs 98.57 crore from Rs 97.11 crore in the corresponding quarter of the previous fiscal but was 13.6 percent lower q-o-q than the Rs 114.09 crore in Q1 2019. Employee benefits expense in Q2 2019 increased 55.3 percent y-o-y to Rs 13.08 crore from Rs 8.42 crore in Q2 2018 and increased 45 percent q-o-q from Rs 9.02 crore in Q1 2019.

    Other expenses reduced 11.2 percent y-o-y in Q2 2019 to Rs 12.74 crore from Rs 13.76 crore in Q2 2018 and reduced 7.4 percent q-o-q from Rs 13.76 crore in Q1 2019. Marketing and distribution expense in Q2 2019 increased 43.8 percent y-o-y to Rs 11.16 crore from Rs 7.76 crore in Q2 2018, but reduced 13.4 percent q-o-q from Rs 12.88 crore in Q1 2019.

  • Tax adjustments bring Balaji Telefilms’ Q3 numbers back in the black

    Tax adjustments bring Balaji Telefilms’ Q3 numbers back in the black

    BENGALURU: Tax adjustments of Rs 31.38 crore returned consolidated profit after tax (PAT) of Rs 24.82 crore for Balaji Telefilms Ltd (Balaji Telefilms) for the quarter ended 31 December 2017 (Q3 2018, the quarter under review). The company had reported consolidated net loss after tax of Rs 1.86 crore for the corresponding year ago quarter (Q3 2017) and net loss of Rs 13.84 crore for the immediate trailing quarter (Q2 2018). The company reported operating loss (negative EBITDA) of Rs 7.08 crore in Q3 2018 as compared with operating loss of Rs 10.58 crore in Q3 2017.

    Overall, the company reported higher realisation per programming hour of Rs 0.33 crore for Q3 2017 as against Rs 0.32 crore in Q2 2018. However, due to a 32 per cent year-on-year (yoy) decline and a 25 per cent quarter-on-quarter (qoq) decline in commissioned programmes, the company’s segment revenue decreased. Along with declines in its films and digital segments, Balaji’s consolidated revenue for the quarter under review declined to half yoy to Rs 65.15 crore as against Rs 130.37 crore.

    Segment Revenue

    Balaji Telefilms has three segments–commissioned programmes (CP), films and digital.

    Revenue from CP declined by 17 per cent yoy in Q3 2018 to Rs 69.47 crore from Rs 83.74 crore. CP reported 44.7 per cent higher yoy operating profit of Rs 16.59 crore for Q3 2018 as compared with Rs 11.47 crore. The film segment revenue in the quarter under review declined by 95.6 per cent yoy to Rs 0.85 crore from Rs 19.20 crore. The segment reported lower operating yoy loss of Rs 0.28 crore in Q3 2018 as against Rs 0.51 crore in Q3 2017. Balaji Telefilms’ digital segment (aka ALTBalaji) reported revenue of Rs 1.14 crore for Q3 2018 as against nil in Q3 2017. The segment’s operating loss more than doubled yoy to Rs 8.15 crore in Q3 2018 to Rs 8.76 crore from operating loss of Rs 4.35 crore.

    Let us look at the other numbers reported by Balaji Telefilms

    Balaji Telefilms’ total expenditure for Q3 2018 reduced by 25.8 per cent yoy to Rs 76.40 crore from Rs 102.98 crore. Cost of production/acquisition and telecast fees in the current quarter reduced by 2.16 per cent yoy to Rs 75.77 crore from Rs 77.37 crore. Employee benefits expense in Q3 2018 increased by 3.7 per cent yoy to Rs 6.87 crore from Rs 6.63 crore. Marketing and distribution expense in the quarter under review increased by yoy to Rs 7 crore from Rs 0.2 crore. Other expenses grew by 27.8 per cent yoy to Rs 12.08 crore from Rs 9.46 crore.

  • Despite lower ARPU, Videocon d2h posts higher Q3 profit

    Despite lower ARPU, Videocon d2h posts higher Q3 profit

    BENGALURU: The Saurabh Dhoot-led Indian DTH player Videocon d2h reported profit after tax (PAT) at Rs 30.85 crore for the quarter ended 31 December 2017 (Q3 2018, quarter under review). The company had reported PAT of Rs 16.78 crore for the immediate trailing quarter Q2 2018 and PAT of Rs 21.77 crore for the corresponding year ago quarter Q3 2017. Adjusted EBITDA increased 9 per cent yoy in Q3 2018 to Rs 291.41 crore from Rs 267.24 crore. Adjusted EBITDA less capex increased 62.9 per cent yoy to Rs 188.50 crore during the quarter under review as compared to Rs 115.70 crore.

    Videocon d2h revenue from operations increased 7.2 per cent yoy during the quarter under review to Rs 833.6 crore from Rs 777.39 crore. Subscription and activation revenue increased 7.3 per cent yoy to Rs 763 crore in Q3 2018 from Rs 711.20 crore.

    Subscriber matrices

    The company’s subscriber base increased by 1.6 lakh  (1 crore = 10 crore = 100 lakh) during Q3 2018 to 134.1 lakh from 132.5 lakh in the immediate trailing quarter Q2 2018. The company had a subscriber base of 127.7 lakh in Q3 2017. Videocon d2h reported a quarterly subscriber churn of 1 per cent, higher than the churn of 0.62 per cent reported for Q2 2018. Subscriber churn for Q2 2017 was 0.87 per cent. The company has reported lower average revenue per user of Rs 208 for the quarter under review as compared to Rs 212 for the immediate trailing quarter, but higher than the Rs 205 for the corresponding year ago quarter.

    Let us look at the other numbers reported by Videocon d2h

    Total expenses increased 6.5 per cent yoy to Rs 726.59 crore in Q 2018 from Rs 681.97 crore. Operating expenses increased 8.9 per cent yoy to Rs 423.61 crore in Q2 2018 from Rs 407.38 crore. Administration and other expenses reduced 14 per cent yoy to Rs 18.89 crore during the quarter under review from Rs 21.97 crore. Employee benefits expenses declined 4.3 per cent yoy to Rs 28.92 crore in Q2 2018 from Rs 30.21 crore. Selling and distribution expenses reduced 3.5 per cent yoy to Rs 50.84 crore in Q2 2018 from Rs 52.69 crore.

    Company speak

    Videocon d2h executive chairman Dhoot said, “I am pleased to report that we continued to deliver a strong quarterly result with our adjusted EBITDA being our highest ever quarterly adjusted EBITDA at Rs 2.91 billion. Our adjusted EBITDA per subscriber continued to improve further and came in at Rs 73 per subscriber per month.”

    “We continue to see a recovery on the ground and expect overall business prospects to improve driven by several factors including lower content availability on the FreeDish platform and the Indian government’s focus on increasing affordable housing and improving rural income levels in the recent budget,” he added.

    “During the quarter, the company received all the necessary approvals relating to its amalgamation with and into Dish TV India. The two companies now intend to file the relevant intimations / e-forms with the Registrar of Companies, Ministry of Corporate Affairs, Maharashtra, Mumbai in the last week of February 2018, which filing date will become the effective date for the proposed merger. The company will issue the relevant timelines and other mandatory notices in relation to the merger in due course,” concluded Dhoot.

    Also Read :

    Dish TV-Videocon d2h deal on course

    Dish TV re-evaluating Videocon d2h merger

    Videocon d2h reports another profitable quarter

  • Increased revenue from traditional media boosts Shemaroo numbers

    Increased revenue from traditional media boosts Shemaroo numbers

    BENGALURU: Integrated media content house Shemaroo Entertainment Limited (Shemaroo) reported 18.3 percent higher year-on-year (y-o-y) consolidated total revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18, the quarter under review) stood at Rs 1,345.7 million as compared with Rs 1,138.6 million in Q2 FY 2016-17. The company’s consolidated profit after tax for the quarter under review improved to 29.9 percent y-o-y to Rs 188.2 million (14 percent margin) as against Rs 144.90 million (12.8 percent margin) in the corresponding quarter a year ago.

    Revenue from operations increased by 18.3 percent y-o-y to Rs 1,343.7 from Rs 1135.5 million. In its earnings release, revenue from traditional media rose by 11.8 percent y-o-y during the quarter under review to Rs 1002 million as compared with Rs 896 million in the corresponding year ago quarter. Revenue from new media increased by 42.5 percent y-o-y in Q2 FY 2017-18 to Rs 342 million from Rs 240 million.

    Shemaroo’s EBIDTA, including other income, during the quarter was Rs 363.2 million (27 percent margin on total income of operating revenue) increased by 13.7 percent y-o-y from Rs 319.4 million (28.1 percent margin on total income of operating revenue).

    A look at the other numbers

    Total expenditure (TE) in Q2 FY 2017-18 at Rs 1,079.6 million (80 percent of operating revenue) grew by 19.5 percent y-o-y from Rs 903.5 million (79.6 percent of operating revenue). The company’s cost of raw materials consumed declined by 19.9 percent y-o-y to Rs 692.5 million (51.5 percent of operating revenue) as compared with Rs 864.3 million (76.1 percent of operating revenue).

    Employee benefits expense during the quarter under review grew by 35.7 percent y-o-y to Rs 98.5 million (7.3 percent of operating revenue) from Rs 72.6 million (6.4 percent of operating revenue). Other expenses declined by 7.7 percent y-o-y in Q2 FY 2017-18 to Rs 50 million (3.7 percent of operating revenue) from Rs 54.2 million (4.8 percent of operating revenue).

    Also read:

    Shemaroo makes key hires to boost business

    Backed by new media, Shemaroo reports improved numbers for first quarter

    Rahul Mishra Shemaroo’s new general manager marketing

  • Demonetisation, decline in govt ads impact UFO Q2 numbers

    Demonetisation, decline in govt ads impact UFO Q2 numbers

    BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform UFO Moviez Ltd (UFO) reported a 12.8 percent year-on-year (y-o-y) decline in consolidated operating revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with the corresponding year ago quarter. The company’s consolidated operating revenue was Rs 1,388.8 million for the quarter as against Rs 1,591.8 million for Q2 FY 2016-17. Advertisement revenue stood at Rs 372 million (Rs 517 million in Q2 FY 2016-17). Average advertisement minutes sold per show per screen stood at 3.52 minutes during Q2 FY 2017-18 (5.15 minutes in Q2 FY 2016-17).

    The company’s consolidated net profit after tax declined by 47.8 percent y-o-y during the quarter under review to Rs 102 million from Rs 195.3 million. Consolidated operating profit excluding other income (EBIDTA) for Q2 FY 2017-18 fell by 31.8 percent y-o-y to Rs 374.7 million (26.1 percent margin) from Rs 549.7 million (34.5 percent margin).

    “The last twelve months have been extremely challenging for the entire industry on account of one-off events such as demonetisation and implementation of GST, especially for the media sector, which was most severely impacted,” said UFO’s founder and managing director Sanjay Gaikwad. “Q2 FY 2017-18 was one of our toughest quarters. Advertisement revenue declined sharply on a high base of last year combined with slowdown in government advertisement spends. Nevertheless, we continue to remain extremely positive about the long-term growth prospects of the advertising business. We are hopeful that demand will pick up in a few months. The temporary slowdown has failed to deter us and we remain focused on achieving our long-term strategic goals by entering into a scheme of arrangement and amalgamation with Qube Cinema Technologies Pvt Ltd. We believe that this consolidation will further strengthen our position to capitalise on growth opportunities as the economy revives and gains steam.”

    Total expenses in Q2 FY 2017-18 reduced by 2.7 percent y-o-y to Rs 1,014.1 million from Rs 1,042.1 million. Ad revenue share (expense) increased by 9.8 percent y-o-y to Rs 155.5 million from Rs 141.6 million. Visual print fees sharing expense decreased by 24.8 percent y-o-y to Rs 153.2 million from Rs 203.6 million. Other expenses increased by 0.9 percent y-o-y to Rs 212 million from Rs 201.2 million.

    The company’s expense towards purchase of digital cinema equipment and lamps in the current quarter reduced by 1.8 percent y-o-y to Rs 159.5 million as compared with Rs 162.4 million. Employees’ benefits expense during the quarter under review dipped by 2.6 percent y-o-y to Rs 194.7 million from Rs 199.9 million. Other operating direct costs rose by 8.7 percent y-o-y during the quarter under review to Rs 140.4 million from Rs 129.2 million.

  • Videocon d2h reports another profitable quarter

    Videocon d2h reports another profitable quarter

    BENGALURU: Saurabh-Dhoot led Indian DTH player Videocon d2h reported profit after tax (PAT) of Rs 168 million for the quarter ended 30 September 2017 (Q2 FY 2017-18). The company had reported PAT of Rs 12 million for the immediate trailing quarter (Q1 FY 2017-18) and PAT of Rs 148 million for the corresponding year ago quarter (Q2 FY 2016-17). Adjusted earnings before interest, taxes, depreciation, and amortisation (EBIDTA) increased by 6.9 percent year-on-year (y-o-y) during the quarter under review to Rs 2,805 million from Rs 2,625 million. Adjusted EBIDTA less capital expenditure increased by 29.4 percent y-o-y to Rs 1,174 million as compared with Rs 907 million.

    Videocon d2h revenue from operations increased by 7.5 percent y-o-y during the quarter to Rs 8,346 million from Rs 7,762 million. Subscription and activation revenue increased by 8.4 percent y-o-y to Rs 7,701 million from Rs 7,107 million.

    Subscriber matrices

    The company’s subscriber base increased by 0.21 million during Q2 FY 2017-18 to 13.25 million from 13.04 million in the immediate trailing quarter. The company had a subscriber base of 12.52 million in Q2 FY 2016-17. Videocon d2h reported a quarterly subscriber churn of 0.62 percent, which was less than half the churn of 1.27 percent reported for Q1 FY 2017-18. Subscriber churn for Q2 FY 2016-17 was 0.95 percent. The company has reported higher average revenue per user (ARPU) of Rs 212 for the quarter under review as against Rs 198 for the immediate trailing quarter and Rs 209 for the corresponding year ago quarter.

    A look at the other numbers

    Total expenses rose by 7.5 percent y-o-y to Rs 7,357 million in Q2 FY 2017-18 from Rs 6,843 million Operating expenses increased by 8.4 percent y-o-y to Rs 4,391 million from Rs 4,052 million. Administration and other expenses jumped up by 50.8 percent y-o-y to Rs 276 million from Rs 183 million. Employee benefits expenses declined by 23.8 percent y-o-y to Rs 240 million from Rs 315 million. Selling and distribution expenses increased by 4.3 percent y-o-y to Rs 633 million from Rs 607 million.

    Company speak

    Videocon d2h executive chairman Dhoot said, “I am delighted to report that we have delivered a strong quarter and have reported the highest ever quarterly adjusted EBITDA in the history of Videocon d2h at INR 2.81 billion. More importantly, adjusted EBITDA per subscriber grew by double digits from the last quarter and came in at INR 71 per subscriber per month, supported by better revenue realisations and higher operational efficiencies.”

    He added, “We remain optimistic on the future outlook of the company as we merge with Dish TV India Ltd in the coming weeks, subject to receipt of approval from the Ministry of Information and Broadcasting. The businesses of Videocon d2h and Dish TV India will be amalgamated for financial reporting purposes from October 1, 2017, the date appointed by the Honorable National Company Law Tribunal. We believe that the merged entity would be one of the largest pay TV platforms in the world in terms of subscriber base, according to company estimates. We are excited about the growth prospects of the merged entity given its large scale, solid business fundamentals, and a healthy balance sheet.”

  • NDTV Digital narrows NDTV loss in second quarter

    NDTV Digital narrows NDTV loss in second quarter

    BENGALURU: Operating profit at NDTV Digital has enabled New Delhi Television Limited (NDTV) to narrow consolidated operating loss (EBIDTA) to Rs 137.7 million for the quarter ended 30 September 2017 (Q2 FY 2017-18). An NDTV earnings release mentions a rounded off operating loss of Rs 20 million incurred by the company. The release also states rounded off operating losses by NDTV’s television and allied and ecommerce businesses to the extent of Rs 135 million and Rs 1 million, respectively, and operating profit of Rs 12 million from its digital business during the quarter.

    During the corresponding quarter a year ago, operating profit from the digital business was Rs 10 million (rounded off). An analysis of the numbers put out by NDTV on the stock exchanges shows that the company had incurred lower operating consolidated loss of Rs 106.9 million during Q2 FY 2016-17. On contacting NDTV about the discrepancy, the company responded on email saying, “The difference in the EBITDA in published results versus press release is primarily due to Ind AS adjustment for ESOP cost, which is being shown as one-line item just prior to PAT.”

    NDTV reported a 3.1 per cent drop in consolidated revenue for the quarter under review at Rs 1,025.5 million as compared with Rs 1,162.9 million for the year ago quarter. Net loss stood at Rs 231.40 million for Q2 FY 2017-18 as against net loss of Rs 229.1 million for Q2 FY 2016-17. Consolidated total comprehensive loss for the quarter declined slightly to Rs 233.7 million from Rs 236.40 million in the corresponding previous year’s quarter.

    NDTV reports numbers from two segments–television and media related operations (television) and retail ecommerce. The company reported operating revenue of Rs 1,002.2 million and operating loss of Rs 65.2 million for its television segment and operating revenue of Rs 350 million and an operating loss of Rs 89.3 million for its retail ecommerce segment for the quarter. Corresponding numbers for the year ago quarter were – revenue Rs 1,138.2 million and operating profit of Rs 0.6 million for the television segment and revenue of Rs 30.7 million and operating loss of Rs 136.1 million for the retail ecommerce segment.

    Let us look at the other numbers reported by the company

    Consolidated total expenditure for the quarter declined by 9.4 per cent y-o-y to Rs 1,254.1 million from Rs 1,384 million. Production expenses and cost of services decreased by 34.9 per cent y-o-y to Rs 172.1 million from Rs 264.3 million. Employee benefit expenses increased by 10.2 per cent y-o-y to Rs 573.9 million from Rs 520.70 million. Operating and administrative expenses declined by 21.6 per cent y-o-y to Rs 251.3 million from Rs 320.4 million. Marketing, distribution and promotional expenses reduced by 4.7 per cent to Rs 155.4 million from Rs 163.1 million.

     

  • Balaji Telefilms reports improved results

    Balaji Telefilms reports improved results

    BENGALURU: Ektaa Kapoor-led Balaji Telefilms Limited (Balaji Telefilms) reported improved consolidated revenue for the quarter ended 30 September 2017 (Q2 2017-18) as compared with the corresponding quarter a year ago (y-o-y). Revenue from Balaji Telefilms’ recently launched OTT business, ALTBalaji, grew by 53 per cent to Rs 12.33 million in Q2 2017-18 from Rs 8.05 million in the trailing quarter. ALTBalaji was launched on 16 April 2017.

    Balaji Telefilms’ total income increased by 6.3 per cent y-o-y to Rs 1,165.71 million from Rs 1,096.6 million. Operating revenue grew by 3.7 per cent y-o-y to Rs 1,097.82 million from Rs 1,059.08 million mainly on higher realisation per hour from its television business or commissioned programmes. While the company reported the same number of commissioned programming hours–240 hours for the current quarter as compared with Q2 2016-17–the realisation per hour in the current quarter was Rs 3.2 million as against Rs 2.6 million in the corresponding quarter a year ago. Its other business besides ALTBalaji, the movies business, reported a decline of 28.8 per cent y-o-y in revenue in the current quarter to Rs 307.55 million from Rs 431.87 million as no films were released during the quarter.

    The commissioned programmes business had operating profit of Rs 103.55 million in the current quarter as compared with Rs 79.15 million in Q2 2016-17. The films business reported operating profit of Rs 60.20 million as against operating loss of Rs 259.98 million in the comparative quarter last year. ALTBalaji incurred operating loss of Rs 202.86 million as compared with operating loss of Rs 43.49 million in the trailing quarter.

    Balaji Telefilms reported consolidated loss of Rs 138.4 million in Q2 2017-18 as compared with loss of Rs 279.92 million in Q2 2016-17.

    Balaji Telefilms’ total expenditure for Q2 2017-18 reduced by 7.2 per cent y-o-y to Rs 1,251.88 million from Rs 1,349.7 million. Cost of production/acquisition and telecast fees in the current quarter increased by 23.6 per cent y-o-y to Rs 971.08 million from Rs 785.45 million. Employee benefits expense during the quarter increased by 23.7 per cent y-o-y to Rs 84.21 million from Rs 68.06 million. Marketing and distribution expenses in the current quarter reduced by 60.3 per cent y-o-y to Rs 77.65 million from Rs 195.47 million. Other expenses rose by 52.4 per cent to Rs 143.54 million from Rs 94.16 million.

  • Higher subscription & activation lead Den’s turnaround in Q2

    Higher subscription & activation lead Den’s turnaround in Q2

    BENGALURU: Indian multi system operator (MSO) Den Network (Den) reported growth in operating revenue, operating profit (EBIDTA) and profit after tax (PAT) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding year ago quarter. In Q2-17 (the corresponding year ago quarter), the company had reported a loss. The change to black from red in the current quarter was driven by a reported 22.3 percent increase in operating revenue and an operating profit for its cable distribution (cable) business. Den’s cable business performed well due to cost optimisation measures and the company accelerating its subscription collections. The company claims in its earnings release that its subscription collection efficiency in Q2-18 was 93 percent.

    Den’s operating revenue for Q2-18 was Rs 3,277.9 million, 20.3 percent more y-o-y as compared to Rs 2,724.4 million. Total income including other revenue grew 19.6 percent y-o-y to Rs 3,349 million from Rs 2,800.4 million. The company reported 2.84 times the EBIDTA for Q2-18 at Rs 815.5 million as compared to Rs 287.5 million for the corresponding year ago quarter. PAT for the current quarter was Rs 11.1 million as compared to a loss of Rs 439.6 million in Q2-17.

    Cable business revenue in Q2-18 was Rs 3,079.9 million as compared to Rs 2,517.4 million in Q2-17.Cable business operating profit in the current quarter was Rs 277.5 million as compared to a an operating loss of Rs 306.7 million in Q2-17. Cable business subscription revenue increased 24 percent y-o-y to Rs 164 million from Rs 132 million. Activation revenue increased more than 7 times (7.3 times) to Rs 37 million from Rs 5 million. Placement revenue increased 2 percent y-o-y to Rs 88 million from Rs 86 million. Broadband revenue declined 8 percent y-o-y to Rs 19 million from Rs 21 million. Broadband EBIDTA loss was lower at Rs 1 million in Q2-18 as compared to an operating loss of Rs 2 million in Q2-17.

    Den says that it has deployed 0.25 million digital set top boxes in Q2-18 and its digital subscriber base (including associates) stands at 11 million. Broadband subscriber base in the current quarter was 0.205 million as compared to 0.14 million in Q2-17. Broadband ARPU declined in Q2-18 to Rs 664 from Rs 775 in Q2-17.

    Total expenditure in Q2-18 was almost flat (increased 0.6 percent) y-o-y to Rs 3,261.2 million from Rs 3,240.3 million. The company has reduced employee costs in the current quarter by 17.1 percent to Rs 273.8 million from Rs 330.2 million. Placement fees expense in Q2-18 declined 22.5 percent y-o-y to Rs 107 million from Rs 138 million. Other expenses declined 3.7 percent y-o-y to Rs 756.9 million from Rs 786.2 million. Content costs in the current quarter increased 12 percent y-o-y to Rs 1,324.7 million from Rs 1,182.5 million.

  • Zee Media reports higher ad revenue for second quarter

    Zee Media reports higher ad revenue for second quarter

    BENGALURU: The Essel group’s news arm – Zee Media Corporation Limited (ZMCL) reported higher revenue, but lower profit after tax for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding year ago quarter. ZMCL’s revenue from continuing operations increased 23.9 percent y-o-y in the current quarter to Rs 1,268.24 million from Rs 1,005.67 million in Q2-17.

    EBIDTA for the current quarter declined marginally by 2.9 percent y-o-y in Q2-18 to Rs 213 million from Rs 219.4 million. Profit after tax (PAT) from continuing operations for Q2-18 declined by about two and a half times (declined 60.6 percent) y-o-y to Rs 37.92 million from Rs 96.17 million. However, for Q2-17, the company had reported a consolidated loss for Q2-17. When loss from discontinued operations and tax credits were included – ZMCL’s loss in Q2-17 was Rs 169.44 million. It may be noted that print media operations are ZMCL’s discontinued operations.

    ZMCL’s advertising revenue for Q2-18 increased 31.2 percent y-o-y to Rs 1,111 million from Rs 847.1 million. Subscription revenue however declined 16.8 percent y-o-y in the current quarter to Rs 117.3 million from Rs 140.9 million. Other sales and services revenue was almost flat (grew by 0.7 percent) in the current quarter to Rs 17.7 million.

    ZMCL’s total expenditure in Q2-18 increased 31.4 percent y-o-y to Rs 1,032.9 million from Rs 786.3 million on higher marketing, distribution and business promotion expenses (distribution) and employee benefits expenses.

    ZMCL’s employee benefits expense in the current quarter increased 46 percent y-o-y to Rs 331.7 million from Rs 226.7 million in Q2-17. The company’s distribution expenses in Q2-18 increased 84 percent y-o-y to Rs 155.9 million from Rs 84.6 million.

    Advertising and publicity expenses in the current quarter increased 9 percent y-o-y to Rs 55.2 million from Rs 50.4 million. Operating costs in Q2-18 increased 17 percent y-o-y to Rs 216.9 million from Rs 184.9 million. Other expenses in the current quarter increased 14 percent to Rs 273.2 million from Rs 239.6 million.

    EZ-Mall Online Limited

    EZ-Mall Online Limited, a wholly owned subsidiary of ZMCL, commenced its business operations by launching an ecommerce website. During the quarter under review, the company says that it has invested approximately Rs 40 million in EZ-Mall. ZMCL has reported revenue of Rs 0.88 million from this segment and an operating loss of Rs 54.32 million for Q2-18.