BENGALURU: The Mukesh Ambani group owned TV18 Broadcast Limited (TV18) reported 10.8 per cent increase in consolidated net total income from operations (TIO) in the current year (year ended 31 March 2016, FY-2016 ) at Rs 2,568.97 crore as compared to the Rs 2,318.39 crore in the previous year. TIO in Q4-2016 (quarter ended 31 March 2016, Q4-2016) at Rs 671.34 crore was 6.6 per cent higher YoY as compared to Rs 629.75 but 3 per cent lower QoQ as compared to Rs 624.42 crore in Q3-2016.
Note: The unit of currency in this report is the Indian rupee - Rs (also conventionally represented by INR or ₹). The Indian numbering system or the Vedic numbering system has been used to denote money values in this report. The basic conversion to the international norm would be:
(a) 100,00,000 = 10,000,000 = 100 lakh = 10 million = 1 crore.
(b) 10,000 lakh = 100 crore = 1 billion = 1 arab.
TV18’s PBDIT on a consolidated basis stood at Rs 252.5crore, same as last year. Q4-2016 consolidated operating PBDIT stood at Rs 99.4crore, up by 20.3 per cent YoY, from Rs 82.6 crore in Q4-2015.
Let us look at some of the other numbers reported by TV18
Consolidated total expenditure (TE) in FY-2016 at Rs 2,366.96 crore (92.1 per cent of TIO) was 12.4 per cent higher than the Rs 2,105.87 crore (90.8 per cent of TIO) in FY-2015. TE in Q4-2016 at Rs 587.04 crore (87.4 per cent of TIO) was 5.7 per cent higher YoY as compared to Rs 555.18 crore (88.2 per cent of TIO), but was 2.4 per cent lower QoQ as compared to Rs 601.19 crore (86.8 per cent of TIO).
TV18’s reported 2.5 per cent increase in programming cost in FY-2016 at Rs 776.46 crore (30.2 per cent of TIO) as compared to Rs 757.52 crore (32.7 per cent of TIO). Programming cost in Q4-2016 declined 20.4 per cent YoY to Rs 161.70 crore (24.1 per cent of TIO) as compared to Rs 203.26 crore (32.3 per cent of TIO) and declined 24.6 per cent QoQ as compared to Rs 214.36 crore (31.0 per cent of TIO).
Employee Benefit Expense (EBE) in FY-2016 increased 21.3 per cent to Rs 493.99 crore (18.8 per cent of TIO) as compared to Rs 399.05 crore (17.2 per cent of TIO). EBE in Q4-2016 increased 35.9 per cent YoY to Rs 138.38 crore (20.6 per cent of TIO) as compared to Rs 101.86 crore (16.2 per cent of TIO) and increased 21.1 per cent QoQ as compared to Rs 114.29 crore (16.5 per cent of TIO).
TV18’s marketing, distribution and promotional (Marketing) expense in FY-2016 increased 12.3 per cent to Rs 505.23 crore (19.7 per cent of TIO) as compared to Rs 449.78 (19.4 per cent of TIO) in the previous year, Marketing expense in Q4-2016 increased 12.2 per cent YoY at Rs 129.44 crore (19.3 per cent of TIO) as compared to Rs 115.37 crore (18.3 per cent of TIO) and increased 14.7 per cent QoQ as compared to Rs 112.89 crore (16.3 per cent of TIO).
Segment Revenue
Two segments contribute to TV18’s TIO – Media Operations (Media Ops); and Film Production and Distribution (Films).
Media Ops reported 8.6 per cent increase in segment revenue for the current year at Rs 2,477.78 crore as compared to the Rs 2,281.35 crore in FY-2015. For Q4-2016, the segment reported a 5.5 per cent increase in YoY revenue of Rs 663.71 crore as compared to Rs 628.95 crore but a 2.7 per cent QoQ decline in revenue as compared to Rs 681.85 crore.
Media Ops reported a 6.6 per cent decline in operating results for FY-2016 at Rs 206.56 crore as compared to Rs 221.17 crore in FY-2015. The segment’s operating result for Q4-2016 was 12.0 per cent higher YoY at Rs 86.05 crore as compared Rs 76.81 crore, but declined 7.5 per cent QoQ as compared to Rs 93.06 crore.
Films segment reported more than double (2.53 times) the revenue in FY-2016 at Rs 129.20 crore as compared to Rs 50.96 crore in the previous year. In Q4-2016, the films segment reported almost five times (4.87 times) revenue at Rs 23.41 crore as compared to the Rs 4.80 crore in Q4-2015 and more than double (2.21 times) the revenue of Rs 10.57 crore in the immediate trailing quarter.
Films segment reported positive operating result at Rs 1.34 crore in the current year as compared to an operating loss of Rs 6.44 crore in the previous year. For Q4-2016, the segment reported a lower operating loss of Rs 0.68 crore as compared to a loss of Rs 2.44 crore in Q4-2015 and an operating loss of Rs 1.22 crore in Q3-2015.
