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Tag: Q2 earnings

  • DB Corp Q2 profit plunges 17.6 per cent; Radio segment shows resilience

    DB Corp Q2 profit plunges 17.6 per cent; Radio segment shows resilience

    Mumbai: DB Corp Ltd (DBCL) announced its financial results for the quarter and half-year ended 30 September 2024. DB Corp reported a 17.6 per cent year-on-year decline in net profit for Q2 FY2025, dropping to Rs 825.36 million from Rs 1,002.45 million a year earlier. The company attributed the weak performance to a high base effect and sluggish market activity exacerbated by an extended monsoon season.

    In the first half of FY2025, DB Corp’s total revenue grew by a modest 2 per cent year-on-year to Rs 11,988 million, supported by a high base effect from the previous year, where state elections had significantly boosted ad revenues. Advertising revenue showed minimal growth, rising just 1 per cent to Rs 8,291 million, as the impact of state elections in H1 FY2024 and national elections in H2 FY2024 continued to skew year-on-year comparisons.

    Total revenue for the quarter fell by 3.2 per cent to Rs 5,824.75 million compared to Rs 6,019.19 million in Q2 FY2024, primarily driven by a dip in advertising revenue, which slid 6.7 per cent to Rs 4,014 million. Circulation revenue also saw a slight decline, dropping 2.5 per cent to Rs 1,175 million.

    DB Corp MD, Sudhir Agarwal, remarked, “In Q2 FY25, we did not meet our revenue growth targets due to the extended monsoon season, which slowed market activity and consumer spending, coupled with a high base effect from Q2 FY24, an exceptionally strong quarter driven by state election advertising. However, we are confident in our growth trajectory as we adapt to current market conditions. Our Digital Business is thriving, with MAUs nearing 20 million as of August 2024, despite pilot monetisation. Our foundation for future success remains strong, backed by editorial excellence and robust advertiser support. As India’s economic landscape evolves post-elections, we are well-positioned to enhance stakeholder value and further cement our market leadership.”

    The company’s EBITDA also suffered, shrinking by 13.9 per cent to Rs 1,442 million, resulting in a 25 per cent EBITDA margin, down from 27.8 per cent last year. The decline in profitability signals challenges within the print media sector, where soft newsprint prices were not enough to offset the revenue slump.

    The radio segment emerged as a bright spot, with advertising revenue growing 16.3 per cent to Rs 414 million this Q2 FY2025. EBITDA in this segment increased by 22.3 per cent to Rs 132 million, demonstrating resilience despite broader market headwinds. DB Corp business recorded an 11 per cent year-on-year increase in advertising revenue to Rs 801 million, with EBITDA margins rising by 250 basis points to 33 per cent in H1 FY2025.

    Performance highlights for H1 FY2025:  

    – Total revenue increased by 2 per cent to Rs 11,988 million, compared to Rs 11,755 million.  

    – Advertising revenue grew by 1 per cent to Rs 8,291 million, up from Rs 8,247 million.  

    – Circulation revenue stands at Rs 2,367 million, compared to Rs 2,404 million.  

    – EBITDA rose by 10 per cent to Rs 3,351 million, aided by advertising revenue growth and effective cost control measures.  

    – Net profit increased by 12 per cent year-on-year to Rs 2,004 million, compared to Rs 1,790 million.  

    – Radio business revenue grew by 11 per cent year-on-year to Rs 801 million versus Rs 720 million.  

    Performance highlights for Q2 FY2025:  

    – Total revenue reached Rs 5,825 million, down from Rs 6,019 million due to a high growth base last year.  

    – Advertising revenue stood at Rs 4,014 million, down from Rs 4,301 million.  

    – Circulation revenue decreased to Rs 1,175 million from Rs 1,205 million.  

    – EBITDA fell to Rs 1,442 million with a margin of 25 per cent, compared to Rs 1,676 million.  

    – Net profit decreased to Rs 825.36 million from Rs 1,002.45 million.  

    – Radio business revenue grew by 16.3 per cent year-on-year at Rs 414 million versus Rs 356 million.  

  • Disney+ Hotstar aims to produce 100 local original titles in India

    Disney+ Hotstar aims to produce 100 local original titles in India

    Mumbai: The Walt Disney Company has revealed that there are 500 local original titles in various stages of development and production for Disney+ and gave a breakdown of the number of titles slated for each region during its second-quarter earnings call for fiscal 2022. According to The Walt Disney Company senior EVP and chief financial officer Christine McCarthy, there are 140 local content titles slated for the Asia Pacific region including Southeast Asia, 150 titles for Europe, the Middle East, and Africa (EMEA), 100 titles in production in India and 200 titles in Latin America.

    “We are enthusiastic about our growth potential in international markets,” said The Walt Disney Company chief executive officer Bob Chapek. “We currently have over 500 local original titles in various stages of development and production. 180 of those titles are slated to premiere this fiscal year, increasing to over 300 international originals per year in a steady state. We believe these premium local originals, along with branded content with broad international appeal, will attract new subscribers and drive engagement.”

    The Walt Disney Company has said that it plans to spend $32 billion on content in 2022 out of which one-third will be in sports, and the balance will be dedicated to investments into general entertainment content including linear, theatrical, and direct-to-consumer (DTC) platforms.

    The company recently announced plans to introduce an ad-supported subscription offering for Disney+ in the US by the end of the calendar year that will roll out internationally in 2023. The company saw a stellar quarter for its streaming services with more than 205 million subscriptions overall (Disney+, ESPN+, Hulu) adding 9.2 million subscriptions in the quarter. The majority of the new subscriptions were driven by Disney+ which added 7.9 million subscribers which came to a total of 138 million global paid subscribers. A little over half of the net adds were from Disney+ Hotstar which benefited from the start of the new IPL season towards the end of the second quarter, noted McCarthy.

    Excluding Disney+ Hotstar, internationally the service added over two million paid subscribers with Latin America being the strongest contributor.

    As per the earnings report, Disney+ has 44.4 million subscribers in the US and Canada and 43.2 million international subscribers excluding Disney+ Hotstar. Disney+ Hotstar has 50.1 million subscribers, a massive jump of 42 per cent over the corresponding quarter in the previous year. The average revenue per paid subscriber in the US and Canada is $6.32 while for Disney+ Hotstar it is at $0.76.

    The average monthly revenue per paid subscriber for Disney+ Hotstar increased from $0.49 to $0.76 due to launches in new territories with higher average prices and higher per-subscriber advertising revenue, partially offset by a higher mix of wholesale subscribers.

    The company’s direct-to-consumer revenues for the quarter increased 23 per cent to $4.9 billion and operating loss increased to $0.9 billion. The increase in operating loss was due to higher losses at Disney+ and ESPN+ and lower operating income at Hulu.

    The lower results at Disney+ were due to higher programming, production, marketing and technology costs offset by increase in subscription revenue. The higher subscription revenue was due to subscriber growth and increases in retail pricing. The increases in costs and subscribers reflected growth in existing markets and expansion into new markets, to a lesser extent.

    “Direct-to-consumer programming and production costs in Q3 (third quarter) are expected to increase by more than $900 million year-over-year, reflecting higher original content expense at Disney+ and Hulu increased sports rights costs and higher programming fees at Hulu Live,” Christine McCarthy stated.  “At Disney+, while we still expect higher net adds in the second half of the year versus the first half, it’s worth mentioning that we did have a stronger-than-expected first half of the year.”

  • Zee Media Q2: posts 76 per cent growth in ad revenues

    Zee Media Q2: posts 76 per cent growth in ad revenues

    MUMBAI: Zee Media Corporation (ZMCL) has reported a 57.9 per cent rise in its operating revenue (Total Income from Operations – TIO) in Q2-2015 to Rs 131.12 crore from Rs 83.02 crore in the corresponding quarter last year (Q1-2014) and a one per cent drop than the Rs 133.46 crore reported in the trailing quarter (Q1-2015).

    The Company posted a 76 per cent growth in its advertising revenue to Rs 93.14 crore (71 per cent of TIO) in Q2-2015 as compared to Rs 52.92 crore in Q2-2014 and 16 per cent rise from the Rs 80.1 crore in Q1-2015. The ad revenue from existing channels reported a 42 per cent rise at Rs 68.58 crore versus Rs 48.28 crore in the corresponding quarter last year while the ad revenue from new channels posted a 62 per cent fall at Rs 2.52 crore as compared to Rs 6.64 crore in Q2-2014.

    The subscription revenue for the company grew by 12.8 per cent to Rs 28.07 crore in the current quarter versus Rs 24.90 crore in Q2-2014. The subscription revenue from the existing channels at Rs 24.62 crore was 1.1 per cent less than the Rs 24.90 crore in Q2-2014.

    The media corporation posted a Rs 12.8 crore loss in the current quarter as compared to Rs 14.57 crore loss in Q1-2015 and a profit of Rs 4.27 crore in the corresponding quarter last year (Q2-2014).

    Zee Media posts revenue from two segments: print and television.

    For television business, the company reported total revenue of Rs 98.56 crore, 51 per cent less than the Rs 202.43 crore in Q2-2014 and 5 per cent less than Rs 103.87 crore in Q1-2015.

    While for the print business, it posted total revenue of Rs 32.59 crore for Q2-2015 which was 47.5 per cent below the Rs 62.18 crore reported in Q2-2014 and 10 per cent more than Rs 29.59 crore, the total revenue in Q1-2015.

    The total expenditure for the company in Q2-2015 rose 65.5 per cent at Rs 125 crore from Rs 75.54 crore. The total expenditure for the television segment was reported at Rs 88.05 crore, while for the print segment it was at Rs 36.95 crore in Q2-2015. The total expense for the existing channels is 11.2 per cent at Rs 75.41 crore in Q2-2015 from Rs 67.84 crore in Q2-2014 while for the new channels; the expenditure has been reported at Rs 12.65 crore in Q2-2015, 64.2 per cent higher than the Rs 7.7 crore in Q2-2014.

    The cost of goods and operations for the current quarter increased 70.6 per cent at Rs 29.02 crore (23.2 per cent of TIO) versus Rs 17.01 crore (22.5 per cent of TIO) in Q2-2014.

    The employee cost for the quarter was reported at Rs 41.67 crore (33.3 per cent of TIO), 68.97 per cent more than the Rs 24.66 crore (32.6 per cent of TIO) in Q2-2014.

    The company posted its other expenses at Rs 54.31 crore (43.5 per cent of TIO) which was 69.34 per cent per cent more than the Rs 33.87 crore (44.9 per cent of TIO) in Q2-2014.

    The EBITDA for the company fell 18.2 per cent at Rs 6.12 crore in Q2-2015 versus Rs 7.48 crore in Q2-2014. The EBITDA for the existing channels have been reported at Rs 20.62 crore. For the new channels EBITDA is at a loss of Rs 10.13 crore in the current quarter versus a loss of Rs 3.06 crore in Q2-2014. The EBITDA for the existing channels is up by 95.6 per cent as compared to Rs 10.54 crore in Q2-2014.

    Speaking about the earnings for the current quarter, ZMCL non-executive chairman Subhash Chandra said, “Even as GDP growth in the second quarter is likely to be lower than that in the first quarter of this financial year, domestic industry is likely to witness improved margins which help in developing the investment climate in the country. With India emerging as the only country in the BRICS block to pick up a growth momentum, foreign investors are expected to inject the much needed funds into the system. The honorable Prime Minister’s recent visit to Japan and the US are also likely to augment the same. The mood of public as well as business confidence has improved in general. Providing further buoyancy to the economy is the new hope on the horizon that inflation may finally start softening on the back of steady fall in international crude oil prices and easing of food inflation in the second quarter. A vibrant economy, helped by government’s policy push, will benefit the media and entertainment industry in the mid to long run.”

    The company reached 146.7 million viewers across India and continues to be the largest news network riding on the strength of its two national, eight regional news channels, DNA newspaper and its digital platforms – zeenews.com, dnaindia.com, Facebook, YouTube and Twitter, the press release stated.

     

      Click here for Financial Statement

     

  • Q2-2015: HT Media: Radio segment reports 45 per cent higher operating result

    Q2-2015: HT Media: Radio segment reports 45 per cent higher operating result

    BENGALURU: HT Media Limited (HT Media) radio segment reported a 45.3 per cent q-o-q growth in operating result for Q2-2015 at Rs 6.64 crore versus Rs 4.57 crore in Q1-2015 and 41.6 per cent more than the Rs 4.69 crore in the corresponding quarter of 2014. The segment’s HY-2015 operating result at Rs 11.21 crore was 34.1 per cent more than the Rs 8.36 crore in HY-2014.
     
    Note: (1) 100,00,000 = 100 Lakhs = 10 million = 1 crore
    (2) The figures mentioned in this report are consolidated figures unless stated otherwise.
     
    HT Media’s radio segment reported revenue of Rs 24.35 crore in Q2-2014, which was 1.6 per cent more than the Rs 23.97 crore in Q1-2015 and 9.9 per cent more than the Rs 22.16 per cent in Q2-2014. The company operates four radio stations in the country under the brand Fever 104 FM.
     
    Let us look at the other Q2-2015 and HY-2015 figures reported by HT Media
     
    HT Media reported total income from operations (TIO) of Rs 560.88 crore in Q2-2015, which was 2.6 per cent more than the Rs 546.41 crore in Q1-2015 and 4.9 per cent more than the Rs 534.65 crore in Q2-2014. For HY-2015, HT Media reported TIO of Rs 1107.29 crore which was Rs 1075.58 crore in HY-2014.
     
    The company’s PAT for Q2-2015 at Rs 43.89 crore (7.8 per cent of TIO) was 34.3 per cent more than the Rs 32.67 crore (6 per cent of TIO) in Q1-2015 but 24.6 per cent lower than the Rs 58.18 crore (10.9 per cent of TIO) in Q2-2014. For HY-2015, HT Media reported PAT of Rs 94.64 crore (8.6 per cent of TIO), which was 18 per cent lower than the Rs 115.42 crore (11.7 per cent of TIO) in HY-2014.
     
    Three segments contribute to HT Media’s revenue – (1) Printing and publishing of newspapers and periodicals (Publishing) (2) Radio and (3) Digital.
     
    Radio segment’s results have been mentioned above. HT Media’s publishing segment reported revenue of Rs 510.75 crore (91.1 per cent of TIO) in Q2-2015, which was 1.8 per cent more than the Rs 501.54 crore (19.8 per cent of TIO) in Q1-2015 and 3 per cent more than the Rs 495.85 crore (12 per cent of TIO). In HY-2015, the publishing segment reported revenue of Rs 1012.29 crore (91.4 per cent of TIO) which was 1.2 per cent more than the Rs 1000.43 crore in HY-2014.
     
    HT Media’s publishing segment reported a fall of 6.6 per cent in operating result at Rs 131.59 crore in HY-2015 versus Rs 140.94 crore in HY-2014. For Q2-2015, the segment reported 3.9 per cent higher operating result at Rs 67.04 crore versus Rs 64.55 crore in Q1-2015 and 12.7 per cent more than the Rs 495.85 crore in the corresponding quarter of last fiscal.
     
    The digital segment reported a 5.1 per cent higher revenue at Rs 24.93 crore in Q2-2015 as compared to the Rs 23.72 crore in Q1-2015 and more than double (up 2.4 times) the Rs 10.38 crore in Q2-2014. For HY-2015, HT Media’s digital segment reported a 39.6 per cent growth in revenue to Rs 48.65 crore versus the Rs 34.86 crore in HY-2014. This segment has been regularly reporting loss. Loss is Q2-2015 was Rs 14.7 crore; for Q1-2015 loss was Rs 12.19 crore; for Q2-2014 loss was Rs 10.29 crore. For HY-2015, HT Media’s digital segment reported loss of Rs 26.89 crore versus Rs 27.33 crore in HY-2014.
     
    Speaking about the performance this current quarter, HT Media chairperson and editorial director Shobhana Bhartia said, “We are glad to report a stable growth in operating revenue and profit this quarter on the back of increased advertising volumes and yields for most of our dailies. Our growth initiatives in Mumbai and UP continue to deliver results.”

    “Our digital businesses have shown robust growth and our radio business continues to outperform. We remain optimistic on the medium term outlook for HTML as the economy revives and industrial growth gets back on track. We believe there will be significant opportunities for the company as the economic environment improves,” he added.

     

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