ITV

Tag: Q3 2019

  • Sun Tv subscription revenue up; declares 150% interim dividend

    Sun Tv subscription revenue up; declares 150% interim dividend

    BENGALURU: Kalanathi Maran’s regional telecaster and FM radio broadcaster Sun Tv Network (Sun TV) reported that subscription revenues was up 18  percent y-o-y at Rs 411.85 crore for the quarter ended 31 December 2019 (Q3 2020, period or quarter under review) as compared to the corresponding year ago quarter (Q3 2019). The company reported consolidated profit after taxes or PAT growth at 7.2 percent to Rs 384.69 crore for Q3 2020 as compared to Rs 359.01 crore for Q3 2019. Standalone PAT increased 6.3 percent y-o-y to Rs 373.45 crore from Rs 351.33 crore.

    The board of directors of the company has announced the third interim dividend in the year of Rs 7.50 per share (150 percent) on a face value of Rs 5 per share.

    Sun TV is one of the largest networks in the country that has channels across the four major South Indian languages.

    Sun Tv reported 9.7 percent y-o-y decrease in consolidated operating revenue for Q3 2020 as compared to the corresponding year ago quarter Q3 2019. Consolidated operating revenue for the period was Rs 8547.81 crore as compared to Rs 939.31 crore for Q3 2019. Total income (revenue) for Q3 2020 reduced 67.9 percent y-o-y to Rs 914.71 crore as compared to Rs 992.58 crore in Q3 2019.

    Standalone operating revenue declined 9.9 percent to Rs 814.97 crore in Q3 2020 to Rs 904.45 crore in Q3 2019. Standalone Total income (revenue) for the period declined 8.1 percent y-o-y to Rs 878.56 crore from Rs 956.04 crore.

    Calculated simple consolidated EBITDA for Q3 2020 at Rs 595.27 crore was 12.3 percent lower y-o-y than the Rs  678.80 crore. Simple standalone EBITDA for the period declined 13 percent y-o-y to Rs 580.36 crore from Rs 667.20 crore in Q3 2019.

    Let us look at the other numbers reported by the company for Q3 2020

    Consolidated Total expenditure in Q3 2020 declined 8.5 y-o-y percent to Rs 404.35 crore as compared to Rs 441.86 crore in the corresponding quarter of the previous year.

    Consolidated Operating expense in Q3 2020 declined 10.6 percent y-o-y to Rs 117.02 crore from Rs 130.87 crore in the corresponding quarter of the previous year. Consolidated Employee benefits expense in Q3 2020 declined 1 percent y-o-y to Rs 79.40 crore as compared to Rs 80.23 crore in Q3 2019. Consolidated Other expenses (OE) in the Q3 2020 increased 13.6 percent y-o-y to Rs 56.12 crore as compared to Rs 49.41 crore  in Q3 2020.

    Standalone Total expenditure in Q3 2020 declined 8.2 y-o-y percent to Rs 380.1 crore as compared to Rs 414.04 crore in the corresponding quarter of the previous year.

    Standalone Operating expense in Q3 2020 declined 9.9 percent y-o-y to Rs 110.06 crore from Rs 122.77 crore in the corresponding quarter of the previous year. Standalone  Employee benefits expense in Q3 2020 decline 1.1 percent y-o-y to Rs 70.95 crore as compared to Rs 71.71 crore in Q3 2019. Standalone Other expenses in the Q3 2020 increased 24.1 percent y-o-y to Rs 53.06 crore as compared to Rs 42.77 crore  in Q3 2020.

    SunRisers Hyderabad numbers

    Sun Tv says for the nine months ended 31 December 2019 (9M 2020) income from the company's IPL franchise SunRisers Hyderabad for season 2019 (partial) was Rs 244 44 crore as compared to Rs 386.29 crore for IPL 2018., hence a decline of 36.7 percent. Corresponding costs in 9M 2019 declined 26.8 percent y-o-y to Rs 138 46 crore from Rs 189 15 crore for 9M 2019. Hence the net operating profit for Sun Tv’s IPL franchise declined 46.2 percent y-o-y in 9M 2020 to Rs 105.98 crore from Rs 197.14 crore.

  • ErosNow targets subscriber base of 5 cr; fuels Eros International growth

    ErosNow targets subscriber base of 5 cr; fuels Eros International growth

    BENGALURU: Eros International Plc (Eros International) reported its strongest quarterly performance ever over two year for the three months ended 31 December 2018 (Q3 2019). The company in its investor release says that it closed Q3 2019 with a paying subscriber base of 15.9 million or 1.59 crore. The company says that it is targeting 50 million (5 crore) paying subscribers in the next three years.

    “Our digital & ancillary business generated $35.6 million in revenue, a growth of 31.4 percent over last quarter, and represented 46.4 percent of our total revenue this quarter – the largest proportion ever. Eros Now achieved 15.9 million paid subscribers this quarter, which represents growth of 218 percent year-over-year, and registered users grew to more than 142 million, (14.2 crore) a 78 percent increase versus the prior year period.

    Eros International is currently at an inflection point transforming itself into a holistic content and digital ecosystem. As we continue to undergo this shift we expect the skew of digital and ancilliary revenues to increase relative to our traditional theatrical and TV syndication businesses. The shift to digital will increase the visibility of our earnings as we move towards a more annuity-type business model – higher quality of earnings and more sustainable growth.” Eros International is listed in the New York Stock Exchange.

    To that extent the company says that it has built its digital catalogue on the Eros Now Platform to over 12,000 movies across 10 Indian languages and counting.

    The company is also looking at music to help ramp up revenues. The music ecosystem in India has been growing exponentially over the past few years. In India there are currently over 100 million (10 crore) digital audio streaming users, a number which is growing rapidly says Eros International. Music is integral to its films and its premium content offering to consumers claims Eros. Film music is often marketed and monetised separate from the underlying film, both before and after release. The company says that its deep music library comprises a key component to our unique ErosNow offering, being the only app combining both video and music entertainment. Eros International feels that its  music content also represents significant value in the form of intellectual property rights, the value of which is set to grow over time.

    Company speak

    Eros executive chairman and CEO Kishore Lulla commented, “We grew quarterly revenue 21.0 percent over last quarter and expanded our Adjusted EBITDA margin to 40.9 percent. Our foresight into creating a diversified slate, both linguistically and by budget, helped deliver strong television sales as well as theatrical and digital results. Our ErosNow OTT platform has continued to grow rapidly and reached 15.9 million paid monthly subscribers as of December 31, 2018, a 22.3 percent increase over last quarter. We have achieved our previously announced year-end target of 16 million paying subscribers in just nine months. This tremendous achievement in a relatively short period of time demonstrates that we are well on our way to achieving 50 million (5 crore) paying subscribers in the next three years. Our balance sheet remains conservative and we are well-capitalised, with net debt of $159.1 million, a decrease versus the second quarter of FY 2019."

    Let us look at the numbers reported by Eros International as mentioned in its earnings release.

    Eros reported gross revenue for three and nine months ended 31 December 2018, respectively are $86.6 million and $225.6 million compared to $67.5 million and $193.7 million for the three and nine months ended 31 December 2017, respectively. Gross revenue for the three and nine months ended 31 December 2018, respectively, have been adjusted towards significant financing component on account of adoption of new accounting pronouncements says Eros International.

    Eros reported revenue for three and nine months ended 31 December 2018 are $76.7 million and $200.4 million, respectively, compared to $65.2 million and $189.3 million for the three and nine months ended 31 December 2017, respectively.

    For the three months ended 31 December 2018, the aggregate revenues from digital and ancillary increased by 55.5 percent to $35.6 million from $22.9 million for the three months ended 31 December 2017 and in the nine months ended 31 December 2018, revenue increased by 41.0 percent to $89.4 million, compared to $63.4 million for the nine months ended 31 December 2017. The increase in revenue is primarily on account of contribution from catalogue revenues and digital business.

    Revenue from India increased by 27.4 percent to $28.4 million in the three months ended 31 December 2018, compared to $22.3 million in the three months ended 31 December 2018 and in the nine months ended 31 December 2018, revenue from India increased by 3.8 percent to $75.8 million, compared to $73.0 million for the nine months ended 31 December 2018. The variation is due to mix of films.

    Revenue from Europe increased by 141.2 percent to $12.3 million in the three months ended 31 December 2018, compared to $5.1 million in the three months ended 31 December 2017 and in the nine months ended 31 December 2018, revenue from Europe increased by 118.8 percent to $43.1 million, compared to $19.7 million for the nine months ended 31 December 2017. This was due to higher contribution from the monetisation of catalogue films.

    Revenue from North America increased by 700.0 percent to $0.8 million in the three months ended 31 December 2018, compared to $0.1 million in the three months ended 31 December 2017 and in the nine months ended 31 December 2018, revenue from North America increased by 114.3 percent to $1.5 million, compared to $0.7 million for the nine months ended 31 December 2017.

    Revenue from the rest of the world decreased by 6.6 percent to $35.2 million in the three months ended 31 December 2018, compared to $37.7 million in the three months ended 31 December 2017 and in the nine months ended 31 December 2018, revenue from rest of world decreased by 16.6 percent to $80.0 million, compared to $95.9 million for the nine months ended 31 December 2017. This was due to lower catalogue sales during the period.

    For the three months ended 31 December 2018, adjusted EBITDA increased by 21.2 percent to $31.4 million compared to $25.9 million in the three months ended 31 December 2017.

    The increase in adjusted EBITDA was on account strong catalogue sales which was partially offset by increases in amortisation, marketing, advertising and distribution costs for three months ended 31 December 2018.

    In the nine months ended 31 December 2018, adjusted EBITDA increased by 39.0 percent to $81.9 million, compared to $58.9 million for the nine months ended 31 December 2017.

    Releases reported by Eros in its earnings release

    In the three months ended December 31, 2018, the Eros film slate was comprised of 25 films, of which two were medium budget and 23 were low budget as compared to four films in the three months ended December 31, 2017, of which all were low budget films. In addition, Eros Now released three original series titled Smoke, Date Gone Wrong and Paisa Fek Tamasha Dekh during the three months ended December 31, 2018.

    In the three months ended December 31, 2018, the Company’s slate of 25 films comprised of six Hindi films, 17 regional films and two Tamil/Telugu as compared to the same period last year where its slate of four films comprised three Hindi films and one regional film.

    In the nine months ended December 31, 2018, the Eros film slate was comprised of 56 films of which seven were medium budget and 49 were low budget films as compared to 16 films in the nine months ended December 31, 2017, of which one film was high budget, three were medium budget and twelve were low budget. In addition, Eros Now released four original series titled Side Hero, Smoke, Date Gone Wrong and Paisa Fek Tamasha Dekh during the nine months ended December 31, 2018

    In the nine months ended December 31, 2018, the Company’s slate of 56 films comprised of 14 Hindi films, five Tamil/Telugu film and 37 regional films as compared to the same period last year where its slate of 16 films comprised of eight Hindi films, one Tamil/Telugu films and seven regional films.

  • Q3 2019: BAG Films Television and Radio Dhaamal profits up

    Q3 2019: BAG Films Television and Radio Dhaamal profits up

    BENGALURU: The Anurradha Prasad-led BAG Films and Media Ltd (BAG Films) reported 38.1 per cent higher year-on-year (y-o-y) consolidated revenue for the quarter ended 31 December 2018 (Q3- 019, period or quarter, under review) at Rs 48.67 crore as compared to Rs 33.94 crore in the corresponding prior year quarter.

    BAG Films radio segment, Radio Dhamaal, which operates 10 FM radio stations in the country, reported 17.2 per cent y-o-y increase in operating revenue at Rs 3.06 crore for Q3 2019 as compared to Rs 2.61 crore for Q3 2018.

    The radio segment’s operating profit in Q3 2019 was more than double (up 131.7 per cent) y-o-y at Rs 1.64 crore as compared to Rs 0.71 crore in Q3 2018.

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

    (2) All numbers are consolidated numbers unless stated otherwise.

    BAG Films reported more than eightfold increase (up 743.9 percent) in consolidated Profit after Tax (PAT) and Total Comprehensive Income (TCI) for the quarter under review at Rs 9.3 crore as compared to a loss of Rs 1.11 crore in Q3-2018.

    EBITDA in the period under review at Rs 15.75 crore (33.6 per cent margin of operating revenue) increased 85.4 percent y-o-y as compared to Rs 8.49 crore (25 per cent margin of operating revenue) in the corresponding prior year quarter.

    Segment Numbers

    The company has mentioned 4 segments in its financial results. They are Audio-Visual Production (AVP); Leasing; FM Radio; and Television Broadcasting. FM Radio numbers have already been mentioned above.

    Television Broadcasting segment (TV segment)

    BAG Films major segment, Television Broadcasting (TV segment) reported almost flat revenues (0.6 percent y-o-y growth) for Q3 2019 at Rs 29.48 crore as compared to Rs 29.30 crore in Q3 2018.

    The TV segment reported 22.4 per cent y-o-y growth in operating profit at Rs 16.62 crore as compared to Rs 13.58 crore in Q3 2018.

    Audio Visual Production segment (AVP segment)

    AVP segment reported more than double (2.39 times) revenue in Q3-2019 at Rs 4.16 crore as compared to Rs 1.74 crore in Q3-2018. The segment reported an operating profit in Q3-2019 of Rs 2.35 crore as compared to a loss of Rs 0.20 crore in the corresponding quarter of the previous year.

    Leasing segment (The numbers for this segment are mentioned in lakh – 100 lakh = 1 crore)

    BAG Films leasing segment reported revenue of just Rs 16.30 lakh in the quarter as compared to Rs 29.01 lakh in Q3-2019.The segment reported an operating loss of Rs 74.70 lakh as compared to an operating loss of Rs 102.84 lakh in Q3-2018.

    Let us look at the other numbers reported by B. A. G.  Films

    BAG Films total expenditure in the current quarter at Rs 38.26 crore (81.6 per cent of operating revenue) was 14.9 per cent higher y-o-y than Rs 33.29 crore (98.1 percent of operating revenue) in Q3 2018.

    Employee Cost in Q3-2019 at Rs 6 crore (12.8 per cent of operating revenue) was 10 per cent lower  y-o-y than Rs 6.67 crore (19.7 percent of operating revenue) in the corresponding year ago quarter.

    Other expenses in Q3 2019 increased 25.4 percent y-o-y to Rs 24.49 crore from Rs 19.53 crore in Q3 2018. Finance costs in Q3 2019 increased 5.4 percent y-o-y to Rs 3.97 crore from Rs 3.76 crore in the corresponding prior year quarter.

  • Balaji Telefilms TV, film biz report stellar growth; ALTBalaji subscriber base at 13.1 mn

    Balaji Telefilms TV, film biz report stellar growth; ALTBalaji subscriber base at 13.1 mn

    BENGALURU: India’s premier television and digital content creation house Balaji Telefilms Ltd reported stellar performance from its television and film making business (TV business, or standalone) for the quarter ended 31 December 2018 (Q3 2019, quarter, period, under review).

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

    Balaji’s TV business commissioned programmes – (number of hours of content creation) grew 11 percent year-on-year (y-o-y) during the quarter under review to 199 hours as compared to 179 hours in the corresponding year ago quarter. Net realisation per hour of commissioned programmes went up to Rs 0.4 crore or by about 21 percent y-o-y in Q3 2019 as compared to Rs 0.33 per hour in Q3 2018.  However gross margin and gross margin percentage have both gone down in Q3 2019 to Rs 0.11 crore and 27.3 percent respectively as compared to Rs 0.13 crore and 37.9 percent respectively in the year ago quarter.

    Overall, Balaji Telefilms TV business (or standalone) operating revenue increased 87.4 percent in the period under review to Rs 111.3 crore as compared to Rs 59.4 crore in Q3 2018. TV business profit after tax grew 29 percent y-o-y to Rs 12 crore from Rs 9.3 crore.

    Balaji reported Rs 7.93 crore for Q3 2019 for its film segment as compared to Rs 1.85 crore for Q3 2018. The segment had an operating profit of Rs 1.42 crore during the period under review as compared to operating profit of Rs 0.73 crore in Q3 2018.

    However, on a consolidated basis, it is Balaji Telefilms digital segment, its OTT platform ALTBalaji that more than wiped off the profits generated by the other segments. ALTBalaji incurred a loss of Rs 36.4 crore on operating revenue of Rs 8 crore during the quarter under review. Comparatively, in the third quarter of the previous fiscal, Balaji Telefilms had reported revenue of Rs 1.1 crore and a loss of Rs 17.8 crore for ALTBalaji. The good news is that ALTBalaji’s sold subscription base has gone up by more than twenty times – from 0.052 crore in Q3 2018 to 1.05 crore at close of December 2018.

    Balaji Telefilms managing director Shobha Kapoor said, “We are pleased to announce another strong performance this quarter, highlighted improving margins that has cemented our place as a leader in the Indian media industry. Our in-house content gives us the ability to create strong franchises, nurture new talent and ultimately give consumers the best possible entertainment choices, hence making it a value proposition for our investors and stakeholders.”

    Let us look at the other consolidated numbers reported by Balaji Telefilms

    Balaji Telefilms consolidated revenue from operations increased 48.8 percent y-o-y in Q3 2019 to Rs 96.33 crore from Rs 64.73 crore. Consolidated total income for the period under review grew 50.8 percent y-o-y to Rs 105.3 crore from Rs 69.85 crore. The company reported a consolidated loss of Rs 27.31 crore in Q3 2019 as compared to profit after tax of Rs 25.82 crore in Q3 2018. Calculated consolidated simple EBITDA for Q3 2019 was an operating loss of Rs 26.18 crore as compared to a consolidated operating loss of Rs 7.5 crore in Q3 2018.

    Total expenditure for the quarter under review was 66.1 percent higher y-o-y at Rs 126.92 crore as compared to Rs 76.4 crore in Q3 2018. Cost of production/ acquisition and telecast fees in the quarter at Rs 95.95 crore was 26.6 percent higher y-o-y as compared to Rs 75.77 crore in Q3 2018. Marketing expenses increased 53.5 percent y-o-y in Q3 2019 to Rs 10.74 crore from Rs 7 crore. Employee benefits expense in Q3 2019 increased to more than double – (increased by 107.2 percent) to Rs 14.25 crore from Rs 6.87 crore. Other expenses in Q3 2019 declined 18.7 percent y-o-y to Rs 9.83 crore from Rs 12.08 crore.

  • Sun TV board declares third interim dividend of 50 percent

    Sun TV board declares third interim dividend of 50 percent

    BENGALURU: The board of directors of the Sun TV Network (Sun TV) has declared a 50 percent dividend (dividend of Rs 2.50) per equity share of face value Rs 5 each for the quarter ended 31 December 2019 (Q3 2019, quarter, period under review). This is the third interim dividend disbursed by the company this fiscal.

    The South Indian television and radio broadcaster behemoth reported total comprehensive income of Rs 351.39 crore (38.9 percent of operating revenue for the quarter, which was 31.6 percent y-o-y higher as compared to Rs 267.03 crore (39.1 percent of operating revenue) for the corresponding year ago quarter.

    Sun TV reported 32.4 percent y-o-y increase in operating revenue for Q3 2019 at Rs 904.45 crore as compared to Rs 683.28 crore in Q3 2018. Total Income for the period under review at Rs 956.04 crore was 34.2 percent more y-o-y as compared to Rs 712.39 crore in Q3 2018. Sun TV says in a press release that its subscription revenue has grown by 24 percent y-o-y to Rs 349.60 crore.

    Operating profit (EBITDA) for Q3 2019 at Rs 667.20 (73.8 percent of operating revenue) increased 35.6 percent y-o-y as compared to Rs 492.04 crore (72 percent of operating revenue) in Q3 2018. Profit after tax (PAT) for the quarter at Rs 351.33 crore (38.8 percent of operating revenue) was 31.6 percent higher y-o-y than Rs 266.97 crore (39.1 percent of operating revenue).

    Sun TV reported 35.4 percent y-o-y increase in total expenditure in Q3 2019 at Rs 414.04 crore from Rs 305.76 crore in Q3 2018. Operating expenses  in Q3 2019 increased 51.5 percent y-o-y to Rs 122.77 crore from Rs 81.05 crore in the corresponding quarter of the previous fiscal. Employee benefits expense in Q3 2019 declined 0.7 percent y-o-y to Rs 71.71 crore from Rs 72.20 crore in Q3 2018.

    Finance costs increased more than elevenfold y-o-y in Q3 2019 to Rs 0.71 crore from Rs 0.06 crore in the corresponding quarter of the previous year. Other expenses increase 12.6 percent y-o-y in Q3 2019 to Rs 42.77 crore from Rs 37.99 crore in Q3 2018.

  • Airtel Digital TV numbers up in Q3 2018

    Airtel Digital TV numbers up in Q3 2018

    BENGALURU: Bharti Airtel Ltd (Airtel) Digital TV services segment reported 7.1 per cent year-on-year (y-o-y) increase, 3.2 per cent y-o-y increase and 4.5 per cent y-o-y increase in operating revenues, EBITDA and EBIT respectively for the quarter ended 31 December 2018 (Q3 2019, quarter, period, under review) as compared to the corresponding year ago quarter. The company’s subscriber base increased 7.6 per cent y-o-y to reach 1.5 crore subscribers as on 31 December 2019.

    In the meantime, hit by Mukesh Dhirbhai Amabani’s relentless Reliance Jio Infocomm Ltd juggernaut, Airtel’s own numbers have been falling mainly due to the fall in numbers of its mobile services in India. 

    Airtel Digital TV services revenue for the period was Rs 1,033 crore as compared to Rs 964.3 crore for the corresponding year ago period. EBITDA for Q3 2019 was Rs 382.6 crore (37 per cent of operating revenue) as compared to Rs 370.8 crore (38.5 per cent of operating margin in Q3 2018. EBIT was Rs 156.8 crore for the quarter under review as compared to Rs 150 crore for the year ago quarter. Please refer to the figure below for the segment’s financial trends

    Airtel has reported increase in its Digital TV subscribers. As mentioned above Airtel Digital TV services subscriber base at the end of Q3 2019 stood at 1.5 crore, up 7.6 per cent y-o-y from 1.3937 crore in Q3 2018, and up 1.5 per cent quarter-on-quarter (q-o-q) from 1.4779 crore in Q2 2019. Subscriber churn per month in the quarter was same as the previous quarter at 1.3 per cent. In the year ago quarter Q3 2018, subscriber churn was 1.2 per cent. Please refer to the figure below for Airtel Digital TV subscriber trends.

    Average revenue per user for the quarter under review was down by Rs 2 in Q3 2019 at Rs 231 as compared to Rs 233 in Q3 2018 and down by Re 1 as compared to the Rs 232 for the immediate trailing quarter. Please refer to the figure below for Airtel Digital TV ARPU trends.

    Bharti Airtel numbers

    Airtel’s consolidated revenues for Q3 2019 at Rs 20,519 crore grew 1.9 per cent y-o-y (reported increase of 1.0 per cent) on an underlying basis- adjusted for international termination rate reduction.

    India revenues for Q3 2019 at Rs 14,768 crore have declined by 2.3 per cent y-o-y (declined 3.5 per cent on reported) on an underlying basis. Mobile revenues have witnessed a y-o-y de-growth of 4.0 per cent on an underlying basis primarily on account of the sustained pricing pressure in India Mobile segment.

    In a statement, Airtel MD and CEO of India and South Asia Gopal Vittal, MD said, “Our simplified product portfolio and premium content partnerships have played out well during the quarter, translating into one of our highest ever 4G customers additions of 11 million plus. Our mobile data volume continues to expand, with a y-o-y growth of 190 per cent. We have deployed 24K broadband sites during the quarter and remain committed to invest in capacities ahead of the demand curve and provide a superior customer experience. Effective this quarter, we have modified our customer base measurement to represent only transacting and revenue generating customers. “

    In a statement, Airtel’s MD and CEO for Africa’s Raghunath Mandavasaid,
    “Airtel Africa’s Gross Revenue grew by 11.2 per cent on a y-o-y basis. Data traffic grew by 61 per cent, voice minutes increased by 25 per cent and Airtel Money throughput grew by 29 per cent on a y-o-y basis. Consequently, EBITDA margin has expanded by 1.7 per cent y-o-y and stood at 37.2 per cent for the quarter. We continue to further invest in strong LTE network to enhance customer experience and build a competitive advantage.”
     

  • Reliance Jio adds 27.9 mn subs in Q3; GigaFiber marks entry in 1400 cities

    Reliance Jio adds 27.9 mn subs in Q3; GigaFiber marks entry in 1400 cities

    BENGALURU: Mukesh Dhirubhai Ambani’s juggernaut Reliance Industries Ltd (RIL) reported 50.7 percent growth in gross revenue for the quarter ended 31 December 2018 (Q3 2019, quarter or period under review) as compared to the corresponding year ago quarter. The company’s operating result was 25.4 percent higher during the quarter under review as compared to the year ago quarter. Organised retail under Reliance Retail Ltd and Digital Services segment under Jio have been adding a larger and larger share to the company’s topline and operating results over time. 

    Q3-2019 was no different. Revenue for RIL’s Reliance Retail almost doubled (grew 89.3 percent) y-o-y in Q3 2019 to Rs 35,577 crore (16.7 percent of gross revenue) as compared to Rs 18,798 crore (13.3 percent of gross revenue) in Q3 2018. The segment’s operating result grew 210.5 percent y-o-y to Rs 1,512 crore (0.71 percent of gross revenue) during the period under review from Rs 487 crore (0.34 percent of gross revenue). The segment’s contribution to operating results grew to 8.7 percent in Q3 2019 from 3.5 percent in Q3 2018.

    RIL’s digital segment revenue in Q3 2019 grew 51.2 percent y-o-y to Rs 12,302 crore (5.8 percent of gross revenue) from Rs 8,136 crore (5.8 percent of gross revenue). Operating results for the digital segment grew 64 percent y-o-y to Rs 2,362 crore (1.1 percent of gross revenue) in Q3 2019 from Rs 1,440 crore. (1 percent of gross revenue). The segment’s contribution to operating results grew to 13.6 percent in Q3 2019 from 10.4 percent in Q3 2018.

    RIL reported gross revenue of Rs 2,12,752 crore for Q3 2019 as compared to Rs 1,41,182 crore for the corresponding year ago quarter. Operating result for the period under review was Rs 17,341 crore as compared to Rs 13,830 crore for Q3 2018. The company reported profit for the period as Rs 10,376 crore which was 10 percent higher as compared to Rs 9,437 crore in Q3 2018. Total Comprehensive income for Q3 2019 was 28.8 percent higher y-o-y at Rs 11,052 crore as compared to Rs 8,582 crore.

    FTTH JioGigaFiber services, Den Networks and Hathway Cable & Datacom Investments

    In its earnings release, RIL said that JioGigaFiber services for home broadband, entertainment, smart home solutions, wireline and enterprise has witnessed overwhelming customer interest across 1,400 cities. Trial services are being rolled out across several cities to optimise service offerings.

    The company said that Jio’s customer engagement stayed healthy with average data consumption per user per month of 10.8 GB and average voice consumption of 794 minutes per user per month. Video consumption drove most of the usage, increasing to 460 crore hours per month.

    RIL said further that it awaits regulatory approvals to complete the recently announced investment in Den Networks Ltd and Hathway Cable and Datacom Ltd. Post completion of the transaction, Reliance and Jio will be strengthening the business model of 27,000 LCOs that are aligned with DEN and Hathway across 750 cities, by creating multiple future opportunities with new services and platforms.

    RIL says that Jio added 2.79 crore subscribers in Q3 2019 and its net subscriber base grew to 28 crore. The company says that Jio has had the lowest monthly churn in the industry of 0.61 percent during the quarter. Jio’s ARPU for Q3 2019 was Rs 130 as compared to Rs 131.70 in the immediate trailing quarter.

    Company speak

    RIL chairman and managing director Ambani said, “In our endeavour to consistently create more value for our country and stakeholders, our company has become the first Indian private sector corporate to cross Rs 10,000

    crore quarterly profits milestone. I am proud to be part of the committed and talented team at Reliance that has helped achieve many milestones in our continuing growth journey.

    “In an oil price environment that witnessed heightened volatility through the quarter, RIL has delivered strong quarterly results on a consolidated basis. Competitive cost positions and integration benefits is core to our oil to chemicals (refining and petrochemicals) business, driving sustained performance even in challenging global business environment. In our new-age consumer businesses, we maintained robust growth momentum across Retail and Jio platforms and the share of consumer businesses is steadily increasing its contribution to the overall profitability of the Company. In our wireless business, our customer-centric offerings and strong ubiquitous network are helping to digitalise India at an unprecedented rate. As we execute on our strategies to deliver superior products and services to Indian consumers, I am confident, Reliance is well-positioned for the future and for the next cycle of growth,” concluded Ambani.

  • TV18 boosts Network18 numbers for third quarter

    TV18 boosts Network18 numbers for third quarter

    BENGALURU: Mukesh Dhirubhai Ambani’s media arm, Network18 reported improved numbers for the quarter ended 31 December 2018 (Q3 2019, quarter under review) as compared to the corresponding year ago quarter Q3 2018). The company reported 13 percent y-o-y growth in consolidated revenue for Q3 2019 at Rs 1,475 crore as compared to Rs 1,267 crore in Q3 2018. Network18 reported profit after taxes of Rs 138 crore for Q3 2018. Consolidated operating EBITA increased 18 percent y-o-y to Rs 88 crore in Q3 2019 from Rs 75 crore in Q3 2018.

    Network18’s numbers comprise of numbers from its publically listed subsidiary TV 18 Broadcast Limited (TV18) and from NW18 Web digital, print and others.

    TV 18 props Network 18 numbers

    TV 18 consolidated revenue of Rs 1,474 crore in Q3 2019 was 22 per cent higher y-o-y than Rs 1,211 crore in Q3 2018. TV 18 consolidated operating EBIDTA for Q3 2019 increased 41 percent y-o-y to Rs 115 crore from Rs 82 crore in Q3 2018

    Revenue growth in Q3 2019 was across all revenue streams. The company’s operating revenue from Business and General news (TV 18 standalone) increased 16 per cent y-o-y to Rs 290 crore from Rs 251 crore. The segment’s operating EBIDTA more than doubled (increased 130 percent) y-o-y in Q3 2019 to Rs 47 crore from Rs 20 crore.

    National News (Business and General) revenue increased 12 percent in Q3 2019 y-o-y to Rs 220 crore from Rs 196 crore. National News (Business and General)  operating EBITDA increased 13 percent y-o-y to 56 crore from Rs 49 crore. National News. Regional News ex-Lokmat operating revenue during the quarter under review increased 27 percent y-o-y to Rs 70 crore from Rs 55 crore. The segment reported a substantially lower loss of Rs 9 crore for Q3 2019 as compared to Rs 29 crore for Q3 2018.The Entertainment segment (Viacom 18, AETN18 and Indiacast) saw a 23 percent y-o-y increase in revenue to Rs 1,185 crore in Q3 2019 from Rs 960 crore.  Operating profit of the Entertainment segment increased 11 percent y-o-y to Rs 68 core from Rs 61 core.

    NW18 Web digital, print and others numbers continue decline

    In Q2 2018, NW18 Web digital, print and others (NW18) revenue declined. The decline continued with a  13 per cent y-o-y fall in Q3 2019 to Rs 49 crore from Rs 56 crore in Q3 2018. NW18 operating EBIDTA was higher loss of Rs 27 crore as compared to a loss of Rs 7 crore in Q3 2018.

    Company speak

    Chairman of Network18, Adil Zainulbhai said: “Regional content consumption continues to see robust growth across all parts of the media industry that we play in, whether broadcasting or digital; and straddling news, entertainment and film. We continue to invest in digital with an eye on the future. We are extending our powerful brands across geographies, business models and mediums, to create the most compelling portfolio of properties in the opportunity-laden Indian media sector.”

    Notes

    Viacom18 and  Indiacast became subsidiaries of TV18 from 28 February 2018 and have been consolidated into TV18/Network18 financials from 1 March 2018. HomeShop18 has ceased to be a subsidiary of Network18 from 15 February 2018 as a result of its acquisition of ShopCJ through a share-swap.