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Tag: Radio Mirchi

  • India’s second radio operator MBL seeks to list

    India’s second radio operator MBL seeks to list

    MUMBAI: Music Broadcast Ltd (MBL), the FM radio unit of the media house Jagran Prakashan backed by the private equity giant Blackstone, on Monday, filed draft documents with the capital markets regulator Securities and Exchange Board of India for an initial public offering.

    ICICI Securities is the sole financial adviser for the issue. The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million (Rs 400 crore) and an offer for sale of up to 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.

    MBL will be the second radio operator to list on BSE after Times Group’s Entertainment Network India Ltd, which runs Radio Mirchi, India’s top FM radio business label.

    Jagran entered the radio segment with the acquisition of Music Broadcast Pvt Ltd in December 2014 from Rupert Murdoch-controlled 21st Century Fox’s Star Group and the private equity company India Value Fund Advisors.

    The company plans to use the proceeds to redeem non-convertible debentures, repay inter-corporate deposits as well as for general corporate purposes.

    MBL has a presence in 29 cities. Its radio stations include eight Radio Mantra stations. The company says its radio stations reached out to 49.60 million listeners in 23 cities covered by AZ Research as on 31 March 2016.

  • India’s second radio operator MBL seeks to list

    India’s second radio operator MBL seeks to list

    MUMBAI: Music Broadcast Ltd (MBL), the FM radio unit of the media house Jagran Prakashan backed by the private equity giant Blackstone, on Monday, filed draft documents with the capital markets regulator Securities and Exchange Board of India for an initial public offering.

    ICICI Securities is the sole financial adviser for the issue. The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million (Rs 400 crore) and an offer for sale of up to 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.

    MBL will be the second radio operator to list on BSE after Times Group’s Entertainment Network India Ltd, which runs Radio Mirchi, India’s top FM radio business label.

    Jagran entered the radio segment with the acquisition of Music Broadcast Pvt Ltd in December 2014 from Rupert Murdoch-controlled 21st Century Fox’s Star Group and the private equity company India Value Fund Advisors.

    The company plans to use the proceeds to redeem non-convertible debentures, repay inter-corporate deposits as well as for general corporate purposes.

    MBL has a presence in 29 cities. Its radio stations include eight Radio Mantra stations. The company says its radio stations reached out to 49.60 million listeners in 23 cities covered by AZ Research as on 31 March 2016.

  • Q2-17: Radio Mirchi revenue up 11.5 per cent

    Q2-17: Radio Mirchi revenue up 11.5 per cent

    BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL), which runs the Mirchi brand radio network in India,  reported 11.5 per cent increase in total Income from operations (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter). The company reported consolidated revenue of Rs 129.65 crore for the current quarter as compared to Rs 116.27 crore in the corresponding quarter of the previous fiscal. Quarter-on-quarter (q-o-q), revenue in Q2-17 also increased 17.1 per cent from Rs 110.76 crore in Q1-17.

    The company’s consolidated profit after tax (PAT) in Q2-17 declined by 70.3 per cent year-over-year (y-o-y) to Rs 8.05 crore (16.2 per cent margin) as compared to Rs 27.14 crore (23.3 per cent margin) and declined 51.7 per cent q-o-q from Rs 16.66 crore (15 per cent margin).

    Company Speak

    Commenting on the results, ENIL managing director and chief executive officer, Prashant Panday said, “It’s been a busy quarter for us! We are in the midst of many exciting launches; of core brand Mirchi in cities like Chandigarh, Guwahati and Kochi and our second brand, Mirchi Love in Ahmedabad, Surat, Jaipur and Lucknow. We are offering new innovative content and recruiting existing and new listeners. We have stepped up marketing spends and early research indicates that we have made a strong start and in fact have become leaders in key markets. I am confident this will translate into a stronger business in the years ahead!”

    A look at the other numbers reported by Radio Mirchi

    ENIL’s consolidated Earnings before Interest, Depreciation, Taxes and Amortisation (EBIDTA, operating profit) for Q2-17 declined 39 per cent y-o-y to Rs 23.13 crore (17.8 per cent margin)  from Rs 37.94 crore (32.6 per cent margin) and declined 21.4 per cent q-o-q from Q1-17 at Rs 29.44 crore (26.6 per cent margin).

    ENIL total expense (TE) in Q2-17 increased 36.1 per cent y-o-y to Rs 120.50 crore (92.9 per cent of TIO) from Rs 88.57 crore (76.2 per cent of TIO), and increased 34.2 per cent q-o-q from Rs 89.79 crore (81.1 per cent of TIO).

    Programming and royalty expenses in the current quarter increased 42.9 per cent y-o-y to Rs 6.03 crore (4.6 per cent of TIO) from Rs 34.22 crore (3.6 per cent of TIO and increased 14.6 perc ent q-o-q from Rs 5.26 crore (4.7 per cent of TIO).

    License fee in Q2-17 increased 6.1 per cent y-o-y to Rs 8.31 crore (6.4 per cent of TIO) from Rs 7.83 crore (6.7 per cent of TIO) and increased 20.9 per cent q-o-q from Rs 6.87 crore (6.2 per cent of TIO).

    Employee Benefit Expense (EBE) in Q2-17 at Rs 26.86 crore (20.7 per cent of TIO) increased 21.7 per cent y-o-y from Rs 22.08 crore (19.0 per cent of TIO) and increased 6.6 per cent q-o-q from Rs 25.20 crore (22.8 per cent of TIO).

    Marketing expense in Q2-17 at Rs 32.58 crore (25.1 per cent of TIO) more than doubled (2.1 times) y-o-y and q-o-q from Rs 15.47 crore (13.3 per cent of TIO) and from Rs 11.29 crore (11.1  per cent of TIO) respectively.

    Other expenses in Q2-17 at Rs 32.73 crore (25.3 per cent of TIO) increased 13.9 per cent y-o-y from Rs 28.73 crore (24.7 per cent of TIO), and increased 14 per cent q-o-q from Rs 28.71 crore (25.9 per cent of TIO).

    ENIL won 17 stations in Phase 3 auctions and has launched four new stations in the current quarter – at Chandigarh, Ahmedabad, Surat and Jaipur. Earlier the company had launched Bengaluru, Guwahati, Hyderabad and Kochi stations. Bengaluru was Radio Mirchi’s first launch in the second frequencies network.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q2-17: Radio Mirchi revenue up 11.5 per cent

    Q2-17: Radio Mirchi revenue up 11.5 per cent

    BENGALURU: Indian private FM player Entertainment Network (India) Limited (ENIL), which runs the Mirchi brand radio network in India,  reported 11.5 per cent increase in total Income from operations (TIO) for the quarter ended 30 September 2016 (Q2-17, current quarter). The company reported consolidated revenue of Rs 129.65 crore for the current quarter as compared to Rs 116.27 crore in the corresponding quarter of the previous fiscal. Quarter-on-quarter (q-o-q), revenue in Q2-17 also increased 17.1 per cent from Rs 110.76 crore in Q1-17.

    The company’s consolidated profit after tax (PAT) in Q2-17 declined by 70.3 per cent year-over-year (y-o-y) to Rs 8.05 crore (16.2 per cent margin) as compared to Rs 27.14 crore (23.3 per cent margin) and declined 51.7 per cent q-o-q from Rs 16.66 crore (15 per cent margin).

    Company Speak

    Commenting on the results, ENIL managing director and chief executive officer, Prashant Panday said, “It’s been a busy quarter for us! We are in the midst of many exciting launches; of core brand Mirchi in cities like Chandigarh, Guwahati and Kochi and our second brand, Mirchi Love in Ahmedabad, Surat, Jaipur and Lucknow. We are offering new innovative content and recruiting existing and new listeners. We have stepped up marketing spends and early research indicates that we have made a strong start and in fact have become leaders in key markets. I am confident this will translate into a stronger business in the years ahead!”

    A look at the other numbers reported by Radio Mirchi

    ENIL’s consolidated Earnings before Interest, Depreciation, Taxes and Amortisation (EBIDTA, operating profit) for Q2-17 declined 39 per cent y-o-y to Rs 23.13 crore (17.8 per cent margin)  from Rs 37.94 crore (32.6 per cent margin) and declined 21.4 per cent q-o-q from Q1-17 at Rs 29.44 crore (26.6 per cent margin).

    ENIL total expense (TE) in Q2-17 increased 36.1 per cent y-o-y to Rs 120.50 crore (92.9 per cent of TIO) from Rs 88.57 crore (76.2 per cent of TIO), and increased 34.2 per cent q-o-q from Rs 89.79 crore (81.1 per cent of TIO).

    Programming and royalty expenses in the current quarter increased 42.9 per cent y-o-y to Rs 6.03 crore (4.6 per cent of TIO) from Rs 34.22 crore (3.6 per cent of TIO and increased 14.6 perc ent q-o-q from Rs 5.26 crore (4.7 per cent of TIO).

    License fee in Q2-17 increased 6.1 per cent y-o-y to Rs 8.31 crore (6.4 per cent of TIO) from Rs 7.83 crore (6.7 per cent of TIO) and increased 20.9 per cent q-o-q from Rs 6.87 crore (6.2 per cent of TIO).

    Employee Benefit Expense (EBE) in Q2-17 at Rs 26.86 crore (20.7 per cent of TIO) increased 21.7 per cent y-o-y from Rs 22.08 crore (19.0 per cent of TIO) and increased 6.6 per cent q-o-q from Rs 25.20 crore (22.8 per cent of TIO).

    Marketing expense in Q2-17 at Rs 32.58 crore (25.1 per cent of TIO) more than doubled (2.1 times) y-o-y and q-o-q from Rs 15.47 crore (13.3 per cent of TIO) and from Rs 11.29 crore (11.1  per cent of TIO) respectively.

    Other expenses in Q2-17 at Rs 32.73 crore (25.3 per cent of TIO) increased 13.9 per cent y-o-y from Rs 28.73 crore (24.7 per cent of TIO), and increased 14 per cent q-o-q from Rs 28.71 crore (25.9 per cent of TIO).

    ENIL won 17 stations in Phase 3 auctions and has launched four new stations in the current quarter – at Chandigarh, Ahmedabad, Surat and Jaipur. Earlier the company had launched Bengaluru, Guwahati, Hyderabad and Kochi stations. Bengaluru was Radio Mirchi’s first launch in the second frequencies network.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • WATConsult asks ‘WAT’s your Big Idea?’

    WATConsult asks ‘WAT’s your Big Idea?’

    MUMBAI: WATConsult has launched of one of its kind ideation competition for colleges across the country – WAT’s your Big Idea (#WYBI).

    WYBI is a unique platform which provides massive opportunities to the next generation, in the field of advertising and marketing. It is a college contact programme, where students get an opportunity to work on live projects, understand the nuances of creating digital campaigns for notable brands and showcase their creative skills to the best brand marketers in the country.

    Spread over 40 days, a student or team of students compete for a prize where ideation is the main predictor of the winner. The students can log onto www.watsyourbigidea.com and crack the creative brief given by a brand live, post which WATConsult will screen their applications.

    Shortlisted teams need to share a video detailing the idea which will further be shortlisted by a panel of esteemed jury which includes, Dentsu Aegis Network chairman and CEO – South Asia, Ashish Bhasin, WATConsult founder and CEO Rajiv Dingra, Bestseller India CEO and country head Vineet Gautam, L&T Investment Management Limited’s Kailash Kulkarni; Reliance Jio chief digital officer Vishal Sampat, HUL’s head of oral care, Sashwat Sharma; Radio Mirchi EVP Head-Digital Initiatives Rahul Balyan, and Warner Bros. India senior director and network head of English entertainment, Rohit Bhandari, before announcing the winners.

    WATConsult has partnered with 20 leading educational institutes across India, like MICA, SIMC, Amity University, XIC, IIMB, IIM (Indore), SP Jain, Jamnalal Bajaj NMIMS, MET, Jai Hind amongst others. The brands on board are Pepsodent (HUL), Jack and Jones, L&T Mutual Funds, Warner Bros, Radio Mirchi and LYF Smartphone+.

    WATConsult CEO and founder Rajiv Dingra said, “WAT’S your Big Idea are ideas for different brands are the main deliverables. WYBI is a unique platform that brings the industry together – brand marketers, agency and aspiring students with a singular goal to inspire and appreciate great ideas.”

    Dentsu Aegis Network chairman and CEO – south Asia Ashish Bhasin said, “It gives me immense pleasure to be on the jury for such an exciting initiative. The young generation is always bursting with vivacious ideas and with WATConsult’s initiative; we are sure we will witness some great ideas and introduce new talent in the industry. Dentsu Aegis Network has always stood for innovating the way brands are built and this is a good example of a step in that direction.”

    The selected winners will be rewarded monetarily and a job guarantee.

  • WATConsult asks ‘WAT’s your Big Idea?’

    WATConsult asks ‘WAT’s your Big Idea?’

    MUMBAI: WATConsult has launched of one of its kind ideation competition for colleges across the country – WAT’s your Big Idea (#WYBI).

    WYBI is a unique platform which provides massive opportunities to the next generation, in the field of advertising and marketing. It is a college contact programme, where students get an opportunity to work on live projects, understand the nuances of creating digital campaigns for notable brands and showcase their creative skills to the best brand marketers in the country.

    Spread over 40 days, a student or team of students compete for a prize where ideation is the main predictor of the winner. The students can log onto www.watsyourbigidea.com and crack the creative brief given by a brand live, post which WATConsult will screen their applications.

    Shortlisted teams need to share a video detailing the idea which will further be shortlisted by a panel of esteemed jury which includes, Dentsu Aegis Network chairman and CEO – South Asia, Ashish Bhasin, WATConsult founder and CEO Rajiv Dingra, Bestseller India CEO and country head Vineet Gautam, L&T Investment Management Limited’s Kailash Kulkarni; Reliance Jio chief digital officer Vishal Sampat, HUL’s head of oral care, Sashwat Sharma; Radio Mirchi EVP Head-Digital Initiatives Rahul Balyan, and Warner Bros. India senior director and network head of English entertainment, Rohit Bhandari, before announcing the winners.

    WATConsult has partnered with 20 leading educational institutes across India, like MICA, SIMC, Amity University, XIC, IIMB, IIM (Indore), SP Jain, Jamnalal Bajaj NMIMS, MET, Jai Hind amongst others. The brands on board are Pepsodent (HUL), Jack and Jones, L&T Mutual Funds, Warner Bros, Radio Mirchi and LYF Smartphone+.

    WATConsult CEO and founder Rajiv Dingra said, “WAT’S your Big Idea are ideas for different brands are the main deliverables. WYBI is a unique platform that brings the industry together – brand marketers, agency and aspiring students with a singular goal to inspire and appreciate great ideas.”

    Dentsu Aegis Network chairman and CEO – south Asia Ashish Bhasin said, “It gives me immense pleasure to be on the jury for such an exciting initiative. The young generation is always bursting with vivacious ideas and with WATConsult’s initiative; we are sure we will witness some great ideas and introduce new talent in the industry. Dentsu Aegis Network has always stood for innovating the way brands are built and this is a good example of a step in that direction.”

    The selected winners will be rewarded monetarily and a job guarantee.

  • Radio Mirchi partners Gaana for content sharing

    Radio Mirchi partners Gaana for content sharing

    MUMBAI: This is music to my ears! Gaana is expanding its mix of unique and exclusive audio content by adding Mirchi Murga and Hansi ke Phuwarey, two of Radio Mirchi’s most popular humor shows.

    Mirchi Murga with Naved is Radio Mirchi’s most popular comedy segment, having won the best Radio Sparkler Award at Indian Excellence in Radio Awards (ERA 2015). Naved has donned many avatars for years, with his jokes taken sportingly by some (and not so sportingly by others).

    “Radio Mirchi’s humor content is some of the best. Gaana is becoming a home for all premium audio content, with millions of listeners starting with music, and finding more and more everyday on the platform,” said Gaana COO Prashan Agarwal.

    In addition, Hansi Ke Phuwarey with Sud, by comic Sunil Grover, is a very popular series known for its deadpan humour. Hansi ke phuwarey has Sudarshan aka Sud reading out jokes from a book with the same title (HKPh). On Gaana, a new joke will be released every day, building a daily listening habit.

    These two programs are now live on Gaana, and Radio Mirchi and Gaana intend to add more original content soon. These offerings will also be promoted across Radio Mirchi’s 44 radio stations across India.

    Along with its extensive music catalog, live radio stations, and other music experiences, Gaana has been expanding its original content library, with over 10 new series. With specials such as Sit Down Comedy with Rajneesh Kapoor, or The Asha Verdict with Asha Bhosle, Gaana’s specials add a new dimension to the product.

    “Mirchi has created some very good on-air personalities and in digital media with its RJs. We are happy to have this partnership with Gaana, where Mirchi’s prank calls can now be heard by his global fan base. We expect as much consumption to come outside India as from India as well,” added ENIL (Radio Mirchi) MD and CEO Prashant Pandey.

  • Radio Mirchi partners Gaana for content sharing

    Radio Mirchi partners Gaana for content sharing

    MUMBAI: This is music to my ears! Gaana is expanding its mix of unique and exclusive audio content by adding Mirchi Murga and Hansi ke Phuwarey, two of Radio Mirchi’s most popular humor shows.

    Mirchi Murga with Naved is Radio Mirchi’s most popular comedy segment, having won the best Radio Sparkler Award at Indian Excellence in Radio Awards (ERA 2015). Naved has donned many avatars for years, with his jokes taken sportingly by some (and not so sportingly by others).

    “Radio Mirchi’s humor content is some of the best. Gaana is becoming a home for all premium audio content, with millions of listeners starting with music, and finding more and more everyday on the platform,” said Gaana COO Prashan Agarwal.

    In addition, Hansi Ke Phuwarey with Sud, by comic Sunil Grover, is a very popular series known for its deadpan humour. Hansi ke phuwarey has Sudarshan aka Sud reading out jokes from a book with the same title (HKPh). On Gaana, a new joke will be released every day, building a daily listening habit.

    These two programs are now live on Gaana, and Radio Mirchi and Gaana intend to add more original content soon. These offerings will also be promoted across Radio Mirchi’s 44 radio stations across India.

    Along with its extensive music catalog, live radio stations, and other music experiences, Gaana has been expanding its original content library, with over 10 new series. With specials such as Sit Down Comedy with Rajneesh Kapoor, or The Asha Verdict with Asha Bhosle, Gaana’s specials add a new dimension to the product.

    “Mirchi has created some very good on-air personalities and in digital media with its RJs. We are happy to have this partnership with Gaana, where Mirchi’s prank calls can now be heard by his global fan base. We expect as much consumption to come outside India as from India as well,” added ENIL (Radio Mirchi) MD and CEO Prashant Pandey.

  • Q1-17: TV Today topline, bottomline up

    Q1-17: TV Today topline, bottomline up

    BENGALURU: TV Today Network Limited (TVTN) reported 7.7 percent increase in standalone revenue (TIO) for the quarter ended 30 June 2016 (Q1-17, current quarter) as compared to the corresponding quarter of the previous year (Q1-16). Standalone profit after tax (PAT) increased 23.9 percent in the current quarter as compared to Q1-16. TVYN reported TIO and PAT of Rs 136.94 crore and Rs 22.38 crore (16.3 percent margin) in Q1-17 as compared to Rs 127.12 crore and Rs 18.06 crore (14.2 percent margin), respectively.

    EBIDTA for the current quarter increased 22.9 percent to Rs 36.80 crore (26.9 percent margin) as compared to the Rs 29.95 crore (23.6 percent margin) in the corresponding year ago quarter.

    Segment results

    The company has two main segments – Television broadcasting (TV) and Radio broadcasting (Radio) – it currently three runs radio stations under the brand Oye FM 104.8 at New Delhi, Mumbai and Kolkata. The company has been partially successful in selling off a few of its radio stations to Entertainment Network India Limited (ENIL, Radio Mirchi) and has also recently signed on ENIL on to hawk ads for its three remaining stations. Probably, the results of this association will start showing over the next few quarters.

    TVTN’s TV segment reported 9.1 percent year-over-year (y-o-y) growth in operating revenue to Rs 136 crore in Q1-17 as compared to Rs 124.66 crore in Q1-16. The segment reported an operating profit of Rs 33.79 crore in the current quarter as compared to Rs 28.11 crore in the corresponding year ago quarter.

    Radio segment reported 45.3 percent decline in operating revenue at Rs 1.35 crore in Q1-17 as compared to Rs 2.62 crore in the corresponding year ago quarter. The segment reported a higher operating loss of Rs 3.52 crore in the current quarter as compared to an operating loss of Rs 2.82 crore in Q1-16.

    Let us look at the other numbers reported for Q1-17

    Total expenditure in the current quarter increased 2.3 percent to Rs 107.61 crore (78.6 percent of TIO) as compared to Rs 105.16 crore (82.7 percent of TIO) in Q1-16.

    Production cost increased 11.2 percent y-o-y in Q1-17 to Rs 13.48 crore (9.8 percent of TIO) as compared to Rs 12.11 crore (9.5 percent of TIO). Employee Benefit Expense in the current quarter increased 18.6 percent y-o-y to Rs 38.73 crore (28.3 percent of TIO) as compared to Rs 32.66 crore (25.7 percent of TIO).

    Advertisement expense in Q1-17 declined 18.6 percent to Rs 31.13 crore (22.7 percent of TIO) from Rs 38.24 crore (23.6 percent of TIO) in Q1-16.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.

  • Q1-17: TV Today topline, bottomline up

    Q1-17: TV Today topline, bottomline up

    BENGALURU: TV Today Network Limited (TVTN) reported 7.7 percent increase in standalone revenue (TIO) for the quarter ended 30 June 2016 (Q1-17, current quarter) as compared to the corresponding quarter of the previous year (Q1-16). Standalone profit after tax (PAT) increased 23.9 percent in the current quarter as compared to Q1-16. TVYN reported TIO and PAT of Rs 136.94 crore and Rs 22.38 crore (16.3 percent margin) in Q1-17 as compared to Rs 127.12 crore and Rs 18.06 crore (14.2 percent margin), respectively.

    EBIDTA for the current quarter increased 22.9 percent to Rs 36.80 crore (26.9 percent margin) as compared to the Rs 29.95 crore (23.6 percent margin) in the corresponding year ago quarter.

    Segment results

    The company has two main segments – Television broadcasting (TV) and Radio broadcasting (Radio) – it currently three runs radio stations under the brand Oye FM 104.8 at New Delhi, Mumbai and Kolkata. The company has been partially successful in selling off a few of its radio stations to Entertainment Network India Limited (ENIL, Radio Mirchi) and has also recently signed on ENIL on to hawk ads for its three remaining stations. Probably, the results of this association will start showing over the next few quarters.

    TVTN’s TV segment reported 9.1 percent year-over-year (y-o-y) growth in operating revenue to Rs 136 crore in Q1-17 as compared to Rs 124.66 crore in Q1-16. The segment reported an operating profit of Rs 33.79 crore in the current quarter as compared to Rs 28.11 crore in the corresponding year ago quarter.

    Radio segment reported 45.3 percent decline in operating revenue at Rs 1.35 crore in Q1-17 as compared to Rs 2.62 crore in the corresponding year ago quarter. The segment reported a higher operating loss of Rs 3.52 crore in the current quarter as compared to an operating loss of Rs 2.82 crore in Q1-16.

    Let us look at the other numbers reported for Q1-17

    Total expenditure in the current quarter increased 2.3 percent to Rs 107.61 crore (78.6 percent of TIO) as compared to Rs 105.16 crore (82.7 percent of TIO) in Q1-16.

    Production cost increased 11.2 percent y-o-y in Q1-17 to Rs 13.48 crore (9.8 percent of TIO) as compared to Rs 12.11 crore (9.5 percent of TIO). Employee Benefit Expense in the current quarter increased 18.6 percent y-o-y to Rs 38.73 crore (28.3 percent of TIO) as compared to Rs 32.66 crore (25.7 percent of TIO).

    Advertisement expense in Q1-17 declined 18.6 percent to Rs 31.13 crore (22.7 percent of TIO) from Rs 38.24 crore (23.6 percent of TIO) in Q1-16.

    Note: The unit of currency in this report is the Indian rupee – Rs (also conventionally represented by INR). The Indian numbering system or the Vedic numbering system has been used to denote money values. The basic conversion to the international norm would be:

    (a) 100,00,000 = 100 lakh = 10,000,000 = 10 million = 1 crore.

    (b) 10,000 lakh = 100 crore = 1 arab = 1 billion.