Reliance MediaWorks narrows Q1 net loss to Rs 536.45 mn

MUMBAI: Reliance MediaWorks Ltd (formerly known as Adlabs Films) has posted a consolidated net loss (after minority interest) of Rs 536.45 million for the quarter ended 30 June, narrowing it from Rs 636.96 million in the same quarter of the previous year.

Reliance MediaWorks continues to maintain its strong investment phase and all its projects are well on track. “As a result of the continued investments and stabilisation of business verticals, the interest and depreciation charge, the company has recorded a net loss of Rs 536.45 million (US$ 12 million),” it said.

Total revenue of the company jumped 100 per cent to stand at Rs 2.08 billion, as compared to Rs 1.05 billion in the year ago period. However, the company noted that figures are not strictly comparable with the corresponding period previous year, which was partially impacted by the strike between producers, distributors and exhibitors.

The company‘s expenses also jumped 63.31 per cent to Rs 2.31 billion in the quarter, as against Rs 1.42 billion in the year ago period. This was mainly because of higher payout to distributors after enforcement of the new revenue sharing agreement, higher personal cost and decrease in stock value.

Ebitda from operations stood at Rs 200 million against a loss of Rs 90 million in the previous year.

“Reliance MediaWorks has delivered robust performance in the quarter and have started seeing strong returns on investments from the assets created in past two years. The forthcoming quarter has a steady movie line-up with more than 12 wide releases, which will help us leverage our leading presence across the entire film and media services value chain," said Reliance MediaWorks CEO Anil Arjun.

On a standalone basis, the net loss for the quarter was Rs 317.02 million (from Rs 661.05 million). Total income of the company for the quarter was Rs 1.29 billion, while expenses were at Rs 1.35 billion.

In the segment-wise results, theatrical business reported a revenue of Rs 1.35 billion, a jump of 91 per cent from previous year’s Rs 708.73 million. But this was mainly because of previous year quarter had no new movie releases.

The strong revenue growth helped the company to reduce the operational loss to Rs 237.4 million (Rs 298.88 million operational loss in the previous year).

Total capital investment in the theatrical exhibition segment stands at Rs 10.91 billion.

From the film production services segment, the company has earned a revenue of Rs 730.78 million, as compared to Rs 288.89 million in the previous quarter. It also posted an operating profit of Rs 121.17 million during the quarter under review (from previous year’s Rs 15.08 million).

However, in the TV/Film production and distribution segment, the revenue dropped to Rs 44.93 million, from Rs 70.81 million a year ago. The company posted an operating profit from the segment of Rs 4.78 million, as against a profit of Rs 12.80 million for Q1 FY ’09.

Latest Reads
Zee Studio to premiere the post-apocalyptic horror drama - MAGGIE!

Zee Studio, the hollywood movie destination, brings the Indian television premiere of Maggie. Starring multi-award winner Arnold Schwarzenegger and Academy Award-nominee, Abigail Breslin, this post-apocalyptic drama premieres on 10 December 2017, Sunday at 12 noon and 9 pm.

Movies Hollywood
Demonetisation, decline in govt ads impact UFO Q2 numbers

BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform UFO Moviez Ltd (UFO) reported a 12.8 percent year-on-year (y-o-y) decline in consolidated operating revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with the corresponding year ago...

Movies Movies On Mutiple Platforms
The modern day economics of film financing

Only 2 per cent of the total movies released in 2016 in the US were computer graphic (CG) animation, yet they grossed more than 21 per cent of the US box office collection. Strong animation brands have longer shelf-life and generate revenue for years.

Movies International
Bengali film Posto to premiere on Hoichoi before satellite TV

NEW DELHI: Digital Bengali entertainment content platform Hoichoi has acquired exclusive digital rights of this year’s most successful Bengali feature film Posto, ensuring it a world digital premiere today before a satellite TV premiere. This will provide Bengali moviemakers a robust additional...

Movies Regional
PVR acquires minority stake in US luxury theatre chain

PVR Ltd (PVR) will acquire a minority stake in US-based luxury restaurant and theatre iPic-Gold Class Entertainment (iPic).

Movies Hindi
Eros reports higher profit margin despite fewer releases

BENGALURU: Sunil Lulla-led Eros International Media Limited (Eros) reported 21 per cent margin (on operating income) for consolidated profit after tax (PAT) for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with 12.8 per cent margin for the corresponding quarter a last ago. The...

Movies Hindi
Inox reports increase in revenue, profits for second quarter

BENGALURU: Indian cinema chain Inox Leisure Limited (Inox) has reported improved revenue and net profit after tax (PAT) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding quarter of the previous year (Q2-17, year ago quarter). Inox revenue from...

Movies Hindi
1700 films received on ending violence against women film contest

NEW DELHI: Around 1700 entries from over 600 colleges have come in response to a campaign launchged earlier this year for two-minute films on generating debate and promote positive change in cultural and social norms around the value of women in India. The campaign ‘#BasAbBahutHogaya – Enough is...

Movies Hindi
Reduce GST on film industry, IMPPA pleads to FM Jaitley

NEW DELHI: The Indian Motion Pictures Producers Association (IMPPA) has urged the government to fix 5 per cent as the maximum GST rate that should be charged on all goods and services connected with the entertainment industry including entertainment tax.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories