ITV

Tag: Q3 2020

  • Siti Networks reports improved numbers for FY 2020

    Siti Networks reports improved numbers for FY 2020

    BENGALURU: The Essel group’s MSO major Siti Networks Limited reported 5.3 percent higher consolidated simple EBIDTA for the year ended 31 March 2020 (FY 2020, year or period under review) as compared to the previous year FY 2019. The company reported a 12.2 percent increase in operating revenue for the period under review as compared to the previous year. All numbers mentioned in this report are consolidated unless stated otherwise.

    The company has managed to reduce its major expenses, but for Pay Channel, Carriage Sharing & Related Costs (pay channel costs) in FY 2020 which increased 29 percent as compared to the previous year. Overall expenses increased 7.7 percent on account of these pay channel costs. In a note to the financial statements, Siti has explained that its operating revenue includes broadcaster share of subscription revenue, hence it has shown the broadcasters share in its pay channel costs as an expense.

    In its earnings release, Siti says that Subscription Revenue for Q4 2020 grew 25.3 percent y-o-y to Rs. 2,842 million. For FY 2020, Subscription Revenue surged 21.3 percent to Rs.11,567 million.

    The consolidated operating revenue figures reported by Siti are Rs 1,618.59 crore and Rs 1,442.13 crore for FY 2020 and FY 2019 respectively, hence a growth of 12.2 percent as mentioned above. Simple EBIDTA as calculated by the author for FY 2020 was Rs 340.64 crore (21 percent of operating revenue) and for FY 2019 it was Rs 323.61 crore (22.4 percent of operating revenue). Loss for the year under review reduced to Rs 188 crore from Rs 264 crore in the previous year.

    For Q4 2020, Siti’s consolidated operating revenue was Rs 27.8 percent higher y-o-y at Rs 408.29 crore as compared to Rs 415.06 crore in Q4 2019. Simple EBIDTA for Q4 2020 as calculated by the author increased 22.1 percent to Rs 81.58 crore (20 percent of operating revenue) from Rs 66.78 crore (20.9 percent of operating revenue). Loss for the quarter was lower at Rs 70.30 crore as compared to a loss of Rs 123.93 for Q4 2019.

    CEO of Siti CEO Anil Malhotra mentioned: “SITI Networks continued its consistent growth focus while maintaining a strict control on operational efficiencies during FY 2020. Our subscription revenue for Q4 2020 grew by 25.3 percent y-o-y, while our total revenue grew by approximately 23 percent y-o-y. Even for FY 2020, our total revenue jumped by 15.3 percent to Rs. 16,354 million. Our constant mantra of improving operational efficiencies while improving monetization helped us to deliver strong operating EBITDA at INR 3,538 million, in FY 2020, a surge of 1.2 times. Our response to COVID-19 pandemic has been widely appreciated. Our teams and partners have left no stone unturned to ensure that our customers get the best services."

    Let us look at the other numbers reported by Siti

    Total expense in FY 2020 increased 7.7 percent to Rs 1,781,33 crore from Rs 1,654,21 crore in the previous year. Amongst the major expense heads, Pay Channel, Carriage Share & Related Costs increased 29 percent in FY 2020 to Rs 843.96 crore from Rs 654.14 crore in FY 2019. Finance costs in FY 2020 declined 7.6 percent to Rs 157.68 crore from Rs 170.72 crore in FY 2019. Employee benefits expense in FY 2020 declined 8 percent to Rs 74.78 crore from Rs 81.32 crore in the previous year. Other expenses in FY 2020 declined 5.6 percent to Rs 357.70 crore from Rs 378.79 crore in FY 2019.

    Total expense in Q4 2020 increased 16.7 percent to Rs 451.03 crore from Rs 386.39 crore in Q4 2019. Amongst the major expense heads, Pay Channel, Carriage Share & Related Costs increased 47.9 percent in Q4 2020 to Rs 212.82 crore from Rs 143.94 crore. Finance costs in Q4 2020 declined 20.5 percent to Rs 35.52 crore from Rs 44,66 crore in the corresponding year ago quarter. Employee benefits expense in Q4 2020 declined 9.4 percent to Rs 16.95 crore from Rs 18.71 crore in the corresponding quarter of the previous year. Other expenses in Q4 2020 increased 9.1 percent to Rs 96.53 crore from Rs 88.44 crore in Q4 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.

  • Siti numbers improve on optimisation of major matrices

    Siti numbers improve on optimisation of major matrices

    BENGALURU: Indian leading multi-system operator (MSO) Siti Networks Limited (Siti) reported 7.8 percent increase in revenue from operations at Rs 1,210.29 crore for the nine month period ended 30 December 2019 (9M 2020, YTD 2020) as compared to the Rs 1,122.71 crore for the corresponding nine month period of the previous year (9M 2019, previous nine month period).  The company’s total expense for 9M 2020 increased 4.9 percent to Rs 1,330.30 crore (108.8 percent of Total Income) from Rs 1,267.81 crore (111,6 percent of Total Income) in the previous nine month period. Siti’s total expense across all major heads decreased 7.7 percent in 9M 2020, as compared to 9M 2019, but for pay channel, carriage share and related costs which increased by Rs 120.94 crore or 23.7 percent.

    Sit reported a lower loss of Rs 117.87 crore in 9M 2020 as compared to a loss of Rs 140.36 crore in 9M 2020.

    Siti claims in its earnings release that 9M 2020 operating EBITDA surged 1.24 times over similar duration of last fiscal, to Rs. 267.6 crore. The company attributes this jump to strict control over expenses and operating efficiencies. Siti says that its operating EBITDA Margin for 9M 2020 also expanded by 1.1 times y-o-y to 22 percent.

    Siti says its subscription revenue for 9M 2020 grew 19.5 percent y-o-y to Rs. 868.7 crore, aided by the strong growth. Subscription ARPU  leapt 1.8 times to Rs.128 per month. Total Revenue (excluding activation) also surged 12.7 percent y-o-y to Rs. 1218.9 crore for the same period.

    Siti CEO Mr Anil Malhotra said: “We are focused on working closely with

    our distribution partners for increased sweating of ground assets further through introduction of allied value-added services for our customers Siti Broadband with Zee 5, India’s fastest growing OTT app, gives both partners an opportunity to scale up our business ambitions, creating value for all our stakeholders with a focused and strategic approach."

    Let us look at the other numbers reported by the company

    Total Income for 9M 2020 increased 7.6 percent y-o-y to Rs 1,222,26 crore from Rs 1,135.11 crore in 9M 2019. Pay channel, carriage sharing and related costs in 9M 2020 increased 23.7 percent y-o-y to Rs 631.14 crore from Rs 510.20 crore. Employee benefits expense in 9M 2020 declined 7.6 percent y-o-y to Rs 57.83 crore from Rs 62.61 crore.  Finance costs in 9M 2020 reduced 3.1 percent y-o-y to Rs 122.16 crore from Rs 126.05 crore. Other expense in 9M 2020 reduced 10 percent y-o-y to Rs 261.17 crore from Rs 290.35 crore.

    Numbers for Q3 2020 as compared to Q3 2019

    For the quarter ended 31 December 2019 (Q3 2020, quarter under review), revenue from operations increased 4.3 percent y-o-y to Rs 402.60 crore from Rs 385.92 crore in Q3 2019. Total Income increased 4.6 percent in the quarter under review to Rs 407.94 crore from Rs 390.11 crore. Loss for Q3 2020 at Rs 33.56 crore was lower than loss of Rs 35.41 crore in Q3 2019.

    Total expense in Q3 2020 increased 4.9 percent to Rs 442.17 crore from Rs 421.70 crore, Excluding pay channel, carriage sharing and related costs, expenses in Q3 2020 declined 10.6 percent to Rs 227.75 crore from Rs 254.72 crore in Q3 2019. Employee benefits expense in Q3 2020 declined 9.5 percent to Rs 18.75 crore from Rs 20.71 crore in Q3 2019. Finance costs in Q3 2020 reduced 7.5 percent to Rs 38.06 crore from Rs 41.13 crore. Other expense in Q3 2020 decreased 13.4 percent to Rs 84.28 crore from Rs 97.33 crore.

  • Den Networks reports profitable Q3 2020

    Den Networks reports profitable Q3 2020

    BENGALURU: Indian cable network and broadband company Den Networks Ltd (Den) reported consolidated profit after tax (PAT) of Rs 12.28 crore for the quarter ended 31 December 2019 (Q3 2020, quarter or period under review) as compared to a loss of Rs 31.21 crore for the corresponding year ago quarter (Q3 2019, y-o-y) and 28.9 per cent higher than the Rs 9.53 crore for the immediate trailing quarter (Q2 2020, q-o-q). Consolidated EBITDA for the quarter at Rs 58.28 crore was 21.2 per cent higher y-o-y than Rs 48.1 crore and was 20.1 per cent higher q-o-q than Rs 48.51 crore.

    Den reported consolidated operating revenue of Rs 318.08 crore, which was 3.1 per cent higher y-o-y, but was 4.3 per cent lower q-o-q than Rs 332.42 crore.

    Segment revenue

    The company has two segments – Cable Distribution Network (Cable) and Broadband.

    Cable revenue increased 3 per cent y-o-y in the quarter under review to Rs 300.46 crore from Rs 291.59 crore, but declined 4.6 per cent q-o-q from Rs 314.92 crore. Cable segment operating result for Q3 2020 was 6.23 crore as compared to a loss of Rs 8.95 crore for Q3 2019 and a loss of Rs 21.14 crore for the immediate trailing quarter.

    Major revenue heads for the Cable business are Subscription, Placement, Other operating income and Activation. Cable Subscription revenue in Q3 2020 increased 10 per cent y-o-y to Rs 189 crore from Rs 172 crore and increased 6 per cent q-o-q from Rs 178 crore. Placement revenue increased 8 per cent y-o-y to Rs 87 crore from Rs 81 crore but declined 1 per cent q-o-q to Rs 88 crore. Other operating income in Q3 2020 declined 52 per cent y-o-y to Rs 6 crore from Rs 13 crore and declined 68 per cent q-o-q from Rs 19 crore. Activation revenue declined 29 per cent y-o-y to Rs 18 crore from Rs 25 crore and declined 39 per cent q-o-q from Rs 29 crore.

    Broadband revenue increased 4.7 per cent y-o-y in Q3 2020 to Rs 17.62 crore from Rs 16.82 crore and increased 0.7 per cent q-o-q from Rs 17.50 crore. The segment reported a lower operating loss result for Q3 2020 at Rs 5.4 crore and a loss of Rs 6.6 crore for Q3 2019 and a loss of Rs 5.1 crore for Q2 2020.

    Let us look at the other results posted by Den for Q3 2020

    Consolidated total expenses for Q3 2020 at Rs 321.63 crore was 4.8 per cent lower y-o-y than Rs 337.84 crore and was 11.9 per cent q-o-q lower than Rs 365.27 crore. Consolidated content costs in Q3 2020 declined 4.7 per cent y-o-y to Rs 141.60 crore from Rs 148.65 crore and was 11.2 per cent lower q-o-q than Rs 159.45 crore.

    Consolidated placement fees at Rs 1.08 crore during the quarter under review was 89.2 per cent lower y-o-y than Rs 9.99 crore and was 76.2 per cent lower q-o-q than Rs 4.54 crore. Consolidated employee benefits expense for Q3 2020 at Rs 23.72 crore was almost flat (down 0.3 per cent y-o-y and down 0.2 per cent q-o-q) than Rs 23.8 crore in Q3 2019 and Rs 23.8 crore in Q2 2020.

    Consolidated finance costs during the quarter decreased 9.7 per cent y-o-y to Rs 4.38 crore from Rs 13.88 crore and declined 30.6 per cent q-o-q from Rs 6.31 crore. Consolidated other expenses in Q3 2020 increased 19.9 per cent y-o-y to Rs 93.39 crore from Rs 77.87 crore but declined 2.9 per cent q-o-q from Rs 96.15 crore.

  • Network18 topline almost doubles in Q3 2020

    Network18 topline almost doubles in Q3 2020

    BENGALURU: Mukesh Ambani’s Network18 Media and Investments Ltd (Network18) consolidated profit after tax (PAT) for the quarter ended 31 December 2019 (Q3 2020, quarter or period under review) was up 92.2 percent at Rs  148.29 crore from Rs 77.16 crore in the corresponding year-ago quarter Q3 2020. The company had reported a consolidated loss after tax of Rs 24.68 in the immediate trailing quarter (Q2 2020).

    The company reported consolidated total comprehensive income of Rs  134.74 crore for the quarter under review which was 189.5 percent more than the Rs 46.55 crore in Q3 2019. Network18 had reported a consolidated total comprehensive loss of Rs 18.78 crore in Q2 2020. Consolidated operating EBITDA for the period at Rs 268.25 crore was 204.3 percent more than the Rs 88.14 crore in Q3 2019 and was 247.4 percent more than the Rs 77.21 crore in Q2 2020.

    Network18 consolidated revenue from operations in Q3 2020 at Rs 1,473.70 crore was 3.3 percent lower than the Rs 1,524.01 crore in the corresponding year ago quarter and was 25.5 percent more than the Rs 1,58.87 crore in the trailing quarter. Consolidated total income for the period at Rs 1,490.52 crore was 3.1 percent lower than the Rs 1,538.04 crore in Q3 2019 but was 25 percent more than the Rs 1,192.09 crore in Q2 2020.

    Let us look at the other numbers reported by Network18 for Q3 2020

    Consolidated total expenses in Q3 2020 at Rs 1,304.38 crore was 14.6 percent lower than the Rs 1,525.88 crore in Q3 2019, but was 8.2 percent more than the Rs 1,205.05 crore in Q2 2020. Consolidated operating costs during the quarter under review declined 18.3 percent year-on-year (y-o-y) to Rs 636.56 crore in Q3 2019 from Rs 779 crore and increased 29.7 percent quarter-over-quarter (q-o-q) from Rs 490.67 crore in Q2 2020.

    Marketing, distribution and promotional expenses in Q3 2020 declined 4.6 percent y-o-y to Rs 230.12 crore from Rs 241.12 crore and declined 6 percent q-o-q from Rs 244.88 crore in Q2 2020. Employee benefits expense in Q3 2020 at Rs 243.65 crore declined 13.3 percent y-o-y from Rs 280.88 crore and declined 9.2 percent q-o-q from Rs 268.45 crore.

    Finance costs in the period under review increased 1 percent y-o-y in Q3 2020 to Rs 56.78 crore from Rs 56.20 crore, but declined 8.1 percent q-o-q from Rs 61.77 crore. Other expenses in Q3 2020 declined 30.5 percent y-o-y to Rs 93.42 crore from Rs 134.36 crore, but increased 1.3 percent q-o-q from Rs 92.20 crore.

    Company speak

    Network18 chairman Adil Zainulbhai said: “Across broadcasting and digital, our emphasis has been on delivering value to the consumer, expanding the partner ecosystem and raising profitability. We are constantly adjusting our programming and business model for the continual technology, consumer and regulatory changes in the business. We continue to invest in key areas of growth, expand our reach, and explore new avenues of monetization.”

    The company says in its investor release that linear TV subscription benefits (B2C) continued to accrue; 40 percent y-o-y revenue growth in Q3 2020. It says that implementation of the NTO (New Tariff Order) has created a transparent and non-discriminatory B2C regime, which continues to boost Network18’s TV subscription revenue. Improved distribution tie-ups across cable and telcos have brought the consumer closer to its content bouquet at an affordable optimum price.

    It says further that monetisation of content through digital partnerships (B2B) was driving step-up in profitability: In line with its strategy of being platform agnostic, the Network 18 group stitched multiple partnerships with notable digital platforms for serving their users a discerning selection of its content.

    The company says that though advertising recovered around the festive season, but it continued to remain under pressure: The prevalent weakness in macro-environment and sluggish spending appetite by advertisers continued to drag ad-revenue down y-o-y for both News and Entertainment. Shift of channels from DD Freedish to the Pay ecosystem continued to impact Hindi GEC ad-revenues for all the top broadcasters. The company feels that government initiatives to boost growth and a natural refresh-and-recalibration of ad-budgets should revive ad-growth as we head towards the new fiscal.

    Network18 claims that its digital-only subscription (B2C) was being incubated as a growth driver for the future. Further, Voot’s freemium version with offerings like digital- exclusive and digital-first broadcast content, as well as original content behind a pay-wall, is slated to be launched soon.