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Tag: q2 2018

  • 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.

  • Hathway in the red due to higher expenses, forex loss in second quarter

    Hathway in the red due to higher expenses, forex loss in second quarter

    BENGALURU: In the first quarter of the previous fiscal, restructuring at Indian multi system operator (MSO) Hathway Cable and Datacom Ltd (Hathway) had brought for it a positive bottomline. The pared company reported a profit of Rs 2.716 crore (including an exceptional item –gain from the sale of shares of Rs 1.713 crore) for the quarter ended 30 June 2017 (Q1 2018). The company improved its performance in the second quarter of the previous fiscal (Q2 2018) and reported profit after taxes of Rs 14.01 crore. However, in the quarter ended 30 September 2018 (Q2 2019, quarter under review), the company reported a loss of Rs 5.90 crore as compared to a loss of Rs 2.63 crore in the immediate trailing quarter (Q1 2019).

    Higher expenses which included higher finance costs and higher forex losses were chiefly responsible for the loss, besides of course, the fact that the Jio juggernaut has steamrolled all kinds of broadband internet service providers. The company reported almost same operating revenue (0.5 percent lower) for Q2 2019 at Rs 130.55 crore as compared to Rs 131.15 crore in Q2 2018. Due to higher other income of Rs 7.63 crore in the quarter under review as compared to Rs 5.93 crore in Q2 2018, Hathway’s total income was 0.8 percent more y-o-y at Rs 138.18 crore as compared to Rs 137.08 crore.

    Operating EBITDA during Q2 2019 at Rs 46.58 crore (35.6 percent of operating revenue) was 11.5 percent down y-o-y as compared to Rs 52.66 crore (40.2 percent of operating revenue).

    Let us look at the other numbers reported by Hathway

    Total expenditure in Q2 2019 was 144.08 crore or 110.4 percent of total income, 17.1 percent more than the Rs 123.07 crore (93.8 percent of operating revenue). Operating expenses in Q2 2019 was 5.4 percent lower y-o-y at Rs 31.10 crore (23.8 percent of operating revenue) as compared to Rs 32.89 crore (25.1 percent of operating revenue).

    Employee benefits expense for the quarter was Rs 11.29 crore (8.6 percent of of operating revenue) which was 7.2 percent higher y-o-y as compared to Rs 10.53 crore (8 percent of of operating revenue). Finance costs in Q2 2019 at Rs 32.22 crore (24.7 percent of operating revenue) was 32.2 percent higher y-o-y than Rs 20.19 crore (15.4 percent of operating revenue) in Q2 2018.

    Other expenses at Rs 41.48 crore (31.8 percent of operating revenue) was 18 percent higher y-o-y than Rs 35.07 crore (26.7 percent of operating revenue). Other expenses included a higher forex loss of Rs 7.2 crore in Q2 2019 as compared to a forex loss of Rs 1.28 crore in Q2 2018.

  • 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

  • Airtel Digital TV revenue, PAT and EBITDA up in Q3 2018

    Airtel Digital TV revenue, PAT and EBITDA up in Q3 2018

    MUMBAI: Bharti Airtel’s DTH arm Airtel Digital TV has seen a 10.4 per cent revenue growth in the quarter ending 31 December 2017 (Q3-2018) compared with Q3 2017 (y-o-y). Earnings before interest, taxes, depreciation and amortisation (EBITDA) grew by 22 per cent y-o-y in Q3 2018. Airtel DTH’s contribution to the overall Airtel revenue and EBITDA has stayed the same at 6 per cent.

    Airtel Digital TV’s revenue for Q3 2018 saw revenue rise to Rs 964.2 core from Rs 936.9 crore in Q2 2018 and higher than the Rs 873.5 crore y-o-y. EBITDA rose to Rs 370.8 crore from Rs 351.7 crore in Q2 and Rs 302.6 crore y-o-y.

    Earnings before interest and taxes (EBIT) saw a huge jump from Rs 123 crore in Q2 2018 to Rs 150 crore this quarter, a 22 per cent rise. This was 2.2 times than Rs 68.4 crore reported in the year ago quarter.

    The DTH segment assets were Rs 2,659.1 crore, up from Rs 2,590.7 crore in the previous quarter and Rs 2,399.3 crore in Q3 2017. The segment’s liabilities increased to Rs 33,19.3 crore from Rs 3,279.8 crore in the previous quarter and Rs 3,030.8 in Q3 2017.

    Airtel Digital TV’s capex during the quarter under review was Rs 236 crore, 11 per cent lower y-o-y from as against Rs 265 crore spent in the corresponding year ago quarter. Cumulative investments increased by 8 per cent y-o-y to Rs 7,799.3 crore from Rs 7,212.7

    Subscribers grew by 3.1 per cent to 1.3937 crore, up from 1.3521 crore in the previous quarter and a 10.7 per cent increase y-o-y from 1.2588 crore. A total of 416,000 subscribers were added in the corresponding quarter. Average revenue per user (ARPU) remained flat at Rs 233 (just 0.4 per cent growth from the corresponding quarter a year ago). Monthly churn reported for Q3 2018 stood at 1.2 per cent (1.4 per cent reported in the previous quarter; 1.3 per cent in Q2 2017).

    The DTH business saw no additions of districts this quarter and the number remained at 639 numbers.

    Airtel’s overall revenue dropped by 12.9 per cent y-o-y to Rs 20,319 crore from Rs 23,336 crore. Its revenue dropped to Rs 15,294 crore, 11.3 per cent y-o-y and down from the Rs 16818.3 crore in the previous quarter. This was mainly due to mobile drop of 17.6 per cent. Mobile broadband customers increased by 64.9 per cent to 6.21 crore from 3.77 crore in the corresponding quarter last year. Mobile data traffic grew by more than 6 times to 110,600 crore MBs in the quarter as compared with 172,000 crore MBs in the corresponding quarter last year. Total India mobile subscribers increased by 2.9 per cent from the previous quarter to 29.0 crore, which is also 9.1 per cent growth y-o-y.

    Airtel’s profit before tax stood at Rs 838.1 crore, lower than the Rs 1298.8 crore reported in the previous quarter. Net income also dropped to Rs 305.8 crore from Rs 343 crore.

    Airtel India and South Asia MD and CEO Gopal Vittal said. “Regulatory fiat in the form of a cut in domestic IUC rates has exacerbated the industry ARPU decline in Q3 18. The recent announcement of reduction in international termination rates will further accentuate this decline and benefit foreign operators with no commensurate benefit to customers. Continued investments in data capacities, strategic partnerships with content and handset providers and focus on customer friendly innovations like data rollover has led to healthy customer additions of 0.81 crore during the quarter. Q3 2018 has also seen the highest ever broadband site deployment of 32K in any quarter, complementing the robust data and voice traffic growth of 544 per cent and 50 per cent respectively on a y-o-y basis. We are committed to remaining the operator of choice for all customers in this rapidly consolidating industry.”

    Also Read :

    Airtel Digital TV revenues, op profits rise in Q2 FY 2018

    Airtel Digital TV sub base expands, even as ARPUs dip