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Tag: Raj Television Network

  • Raj Television appoints S Jeyaseelan as CFO

    Raj Television appoints S Jeyaseelan as CFO

    MUMBAI: Raj Television Network has got a new chief financial officer (CFO). In a statement to the BSE, the Network has said that as recommended by audit committee and remuneration committee of the company as well as after approval by Board meeting that was held on 28 April, S Jeyaseelan has been appointed as the CFO of the company.

     

    His appointment is effective from 1 April 2014. Jeyaseelan was earlier the company’s manager of finance since the last 19 years.

     

    Raj Television is a 20 year old company based in Chennai and promoted by four brothers. Recently, the company was on a lookout for equity investors to fund its growth plan by raising Rs 200 crore through stake sale.

     

    Raj Television Network operates 12 channels in Tamil, Telugu, Kannada, Malayalam and Hindi.

  • Q4-2014: Raj TV board recommends 5 per cent final dividend for FY-2014

    Q4-2014: Raj TV board recommends 5 per cent final dividend for FY-2014

    Updated: 03:58 PM

     

    BENGALURU: The shareholders of Raj Television Network (Raj TV) have further reason to cheer. The board has recommended a final dividend of 5 per cent or Rs 0.25 per equity share of face value of Rs 5 each, in addition to the earlier interim dividend of 5 per cent or Rs 0.50 per equity share on the earlier face value of Rs 10 before the split and issue of bonus shares during FY-2014. The company had issued bonus shares in the ratio of 1:1 after the earlier interim dividend in FY-2014.

     

    Raj TV reported a 17.68 per cent higher Income from Operations (Op Inc) in FY-2014 at Rs 79.47 crore as compared to the Rs 67.53 crore in FY-2013. However, Op Inc in Q4-2014 was (-28.13) per cent lower at Rs 17.91 crore than the Rs 24.92 crore in the immediate trailing quarter Q3-2014, and was 2.52 per cent more than the Rs17.47 crore of the year ago quarter Q4-2013.

     

    Note: (1) Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.

     

    Note: (2) The results in this report are standalone.

     

     Let us look at the other results reported by Raj TV for FY-2014 and Q4-2014

     

    PAT in FY-2014 at Rs12.91 crore (16.25 per cent of Op Inc) was 39.05 per cent higher than the PAT of Rs 9.29 crore (13.75 per cent of Op Inc) in FY-2013. In Q4-2014, PAT at Rs1.01 crore (5.62 per cent of Op Inc) was a little more than a fifth or (-79.82) per cent lower than the Rs 4.98 crore (20.01 per cent of Op Inc) in Q3-2014, but almost double (88.91 per cent more than) the Rs 0.53 crore (3.05 per cent of Op Inc) of Q4-2013.

     

    Raj TV’s Total Expense (Tot Exp) in FY-2014 at Rs 59.97 crore was 9.55 per cent more than the Rs 54.74 crore in FY-2014. Tot Exp in Q4-2014 at Rs15.45 crore was (-16.85) per cent lower than the Rs18.58 crore in Q3-2014 and 1.54 per cent more than the Rs15.22 crore in Q4-2013.

     

    Employee Benefits Expense (EBE) and Administrative and other Expenses (Admin exp) are two major expense heads at Raj TV. While EBE in Q4-2014 was substantially higher y-o-y despite almost similar Op Inc, Admin Exp in Q4-2014 was very high q-o-q, despite Raj TV’s Op Inc being much higher in Q3-2014 as compared to Q4-2014.

     

    Employee Benefits Expense in FY-2014 at Rs 17.60 crore (22.15 per cent of Op Inc) was 50.78 per cent more than the Rs11.68 crore (17.29 per cent of Op Inc) in FY-2013. EBE in Q4-2014 at Rs 4.74 crore (26.47 per cent of Op Inc) was (-31.1) per cent lower than the Rs 6.88 crore (27.61 per cent of Op Inc) and 41.02 per cent more than the Rs 3.36 crore (19.24 per cent of Op Inc) in Q4-2013.

     

    Administrative and other expense in FY-2014 at Rs 14.69 crore (18.48 per cent of Op Inc) was 32.46 per cent more than the Rs11.09 crore (16.42 per cent of Op Inc). During Q4-2014, Admin exp at Rs 4.41 crore (24.6 per cent of Op Inc) was 40.67 per cent more than the Rs 3.13 crore (12.57 per cent of Op Inc) in Q3-2014 and 2.2 per cent more than the Rs 4.31 crore (24.68 per cent of Op Inc) in Q4-2013.

     

    Raj TV has reported a 76.1 per cent increase in Long Term Borrowings (non-current liabilities) in FY-2014 at Rs 12.49 crore as compared to the Rs 7.05 crore in FY-2013. Also, in its current liabilities the company has reported a 3.52 times increase in short term borrowings in FY-2014 at Rs 24.97 crore as compared to the Rs 7.09 crore in FY-2013. The company’s trade receivables in FY-2014 at Rs 58.27 crore has gone up by 36.15 per cent as compared to the Rs 42.8 crore in FY-2013.

     

    Raj TV’s Fixed Assets in FY-2014 has gone up by 77.60 per cent to Rs113.99 crore as compared to the Rs 64.18 crore in FY-2013. Its inventories in FY-2014 have gone up by almost 6 times (5.76 times) to Rs 11.65 crore from Rs 2.02 crore in FY-2013. Its trades payables has gone down in FY-2014 to Rs 2.63 crore from Rs 3.48 crore in FY-2013.

     

    The company reported earnings per share (EPS) of Rs 9.43 per equity share in FY-2014 and Rs 0.19 in Q4-2014. 

  • Q3-2014: Raj TV reports 43 per cent growth in revenue; 54 per cent growth in PAT

    Q3-2014: Raj TV reports 43 per cent growth in revenue; 54 per cent growth in PAT

    BENGALURU: Raj Television Network (Raj TV) reported 42.75 per cent growth in total revenue to Rs 24.92 crore during Q3-2014 from the Rs 17.46 crore during the corresponding quarter of last fiscal and 35.82 per cent higher than the Rs 18.35 crore for Q2-2014.

     

    The company reported an equally stellar 53.98 per cent growth in PAT during Q3-2014 at Rs 4.99 crore (20.01 per cent of revenue of that quarter) as compared to the Rs 3.24 crore (18.55 per cent of revenue of that quarter) during Q3-2013, and 44.13 per cent more than the Rs 3.46 crore (18.86 per cent of revenue for that quarter) during the immediate trailing quarter.

     

    Let us look at the other results reported by Raj TV during Q3-2014

     

    Raj TV reported total expense at Rs 18.58 crore (74.58 per cent of revenue of that quarter) for Q3-2014 was 38.93 per cent more than the Rs 13.38 crore (76.62 per cent of revenue of that quarter) during Q3-2013 and 42 per cent more than the Rs 13.09 crore (71.33 per cent of revenue of that quarter) during Q2-2014.

     

    The company doesn’t report a breakup of various costs. It is being assumed that costs towards content are included under the heading Cost of Revenues, which is a major cost head. During Q3-2014, Raj TV’s Cost of Revenue at Rs 7.62 crore (41 per cent of total expense during that quarter) was 5.81 per cent higher than the Rs 7.20 crore (53.82 per cent of total expense for that quarter) during Q3-2013 and 47 per cent more than the Rs 5.18 crore (39.6 per cent of total expense for the quarter) during Q2-2014.

     

    Another major chunk of Raj TV’s expense is Employee Benefits. During Q3-2014, the company spent Rs 6.88 crore (37.03 per cent of total expense during that quarter) towards this head, more than double (2.24 times) the Rs 3.07 crore (22.96 per cent of total expense of that quarter) during Q3-2013, and almost double (1.91 times) the Rs 3.60 crore (27.50 per cent of total expense of that quarter) during the immediate trailing quarter.

     

    Administrative Cost at Rs 3.13 crore during Q3-2014 was 46.26 per cent more than the Rs 2.14 crore during Q3-2013 and 2.41 per cent more than the Rs 3.06 crore during Q2-2014.

     

    Finance cost during Q3-2014 was up 46.5 per cent to Rs 1.3878 crore as compared to the Rs 0.9474 crore during Q3-2013 and 42.85 per cent more than the Rs 0.9715 crore in Q2-2014.

     

    Click here for full report

  • Raj TV: commendable FY 2013 results; in investment mode

    Raj TV: commendable FY 2013 results; in investment mode

    MUMBAI: Higher ad rates and subscription revenues helped give a leg up to southern broadcaster Raj Television Network in FY 2013 ended 31 March 2013, even though its performance in Q4 2013 was relatively disappointing. Net profit for FY 2013 rose marginally to Rs 9.28 crore as against Rs 9.21 crore. However, net profit in Q4 2013 took a nosedive to Rs 53.28 lakh as against Rs 4.65 crore in the previous corresponding year’s quarter.

    Let us look at the Q4-2013 financials as against Q4-2012

    Revenue for Q4-2013 at Rs 17.47 crore, has risen 9.7 per cent as against Rs 15.92 crore in Q4-2012. Expenses have however increased significantly by 42 cent to Rs 15.22 crore in Q4-2013 as against Rs 10.73 crore in Q4-2012. Finance costs have more than doubled from Rs 66.66 lakh in Q4-2012 to Rs 1.51 crore in Q4 2013. The company says this happened on account of its launching new regional language channels, the fruits of which will accrue to its balance-sheet in the coming year.

    As mentioned above the net profit for Q4-2013 is down to a dismal figure of Rs 53.28 lacs as against a strong Rs 4.65 crore reported in the corresponding last quarter.

    Let us look at the FY-2013 results as against FY-2012

    Annual revenues at Rs 67.53 crore for FY-2013 have significantly climbed up by over 24 per cent as against Rs 54.06 crore in FY-2012. Advertisement and subscription and DTH revenues too are up 13 per cent and by 32.5 per cent respectively.

    Expenses have surged 26 plus per cent to Rs 54.74 crore in FY-2013 as against Rs 43.01 crores in FY-2012. The sharp rise is accounted for a spike in the cost of revenues to Rs 28.3 crore as against Rs 18.23 crore in FY-2012. The company says its production costs skyrocketed because its shifted its telecasts from Insat to a Asiasat 5. This resulted in its overall satellite rent bumping up to Rs 4.3 crore in FY 2013.

    PAT in FY-2013 as mentioned above stand at Rs 9.28 crore as against Rs 9.21 crore in FY-2012. For the full year, its foray into new regional channels, saw its financial costs ballooning by Rs 2 crore which dented its bottomline.

    The board has recommended a final dividend of Rs 1 per share on the face value of Rs 10 per share. Investors obviously seem bullish on the stock, despite its relatively poor Q4 performance. The Raj TV stock closed at an all time high of Rs 301.85 on 28 May.