Cable TV

FY-2014: Sea TV reports loss of Rs 6.82 crore

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BENGALURU: Sea TV Network Ltd, (Sea TV) an MSO and a media and entertainment house of Uttar Pradesh & Uttrakhand reported loss of Rs 6.82 crore in FY-2014 as compared to a profit of Rs 1.29 crore in FY-2013. Though the company incurred a 35.3 per cent drop in EBIDTA as compared to last year, it was still EBIDTA positive at Rs 2.79 (14.3 per cent of Total Income or Tot Inc) crore in FY-2014 as compared to the Rs 4.32 crore (20.3 per cent of Tot Inc) in FY-2013

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

(2) Annual figures are on a consolidated basis, quarterly figures are standalone.

The company reported 11.4 per cent lower Tot Inc in FY-2014 at Rs 18.82 crore as compared to the Rs 21.24 crore in FY-2013. Tot Inc in Q4-2014 at Rs 4.71 crore was 12.8 per cent more than the Rs 4.17 crore in the immediate trailing quarter and 15.5 per cent more than the Rs 4.05 crore in the year ago quarter Q4-2013.

Sea TV incurred Total Expense (Tot Exp) of Rs 20.73 crore (110.2 per cent of Tot Inc) in FY-2014 which was 11.8 per cent more than the Rs 18.55 crore (87.3 per cent of Tot Inc) in FY-2013. During Q4-2014, the company’s Tot Exp at Rs 4.7 crore (99.8 per cent of Tot Inc) was 3.9 per cent more than the Rs 4.52 crore (108.3 per cent of Tot Inc) of Q3-2014 and 38.3 per cent more than the Rs 3.40 crore (83.4 per cent of Tot Inc) in Q4-2013.

A major portion of Sea TV’s expenditure is Pay Channel Charges (PCC). In FY-2014, PCC at Rs 5.56 crore (29.6 per cent of Tot Inc) was 28.6 per cent more than the Rs 43.3 crore (20.4 per cent of Tot Inc) in FY-2013. PCC in Q4-2014 at Rs 1.41 crore (30 per cent of Tot Inc) was 14.6 per cent lower than the Rs 1.65 crore (39.6 per cent of Tot Inc) in Q3-2014 and 1.5 per cent higher than the Rs 1.39 crore (34.1 per cent of Tot Inc) in Q4-2013.

EBIDTA for Q4-2014 at Rs 1.2 crore (25.5 per cent of Tot Inc) was 40.5 per cent more than the Rs 0.86 crore (20.5 per cent of Tot Inc) in Q3-2014 and 7.4 per cent more than the Rs 1.12 crore (27.5 per cent of Tot inc) in Q4-2013.

The company’s interest cost increased by more than fivefold (5.78 times) to Rs 3.98 crore (21.1 per cent of Tot Inc) in FY-2014 from Rs 0.89 crore (3.2 per cent of Tot Inc) in FY-2013. Interest cost in Q4-2014 at Rs 1.44 crore (30.5 per cent of Tot Inc) was 13 per cent more than the Rs1.27  crore (30.4 per cent of Tot Inc) in Q3-2014 and almost seven times (6.8 times) the Rs 0.21 crore (5.2 per cent of Tot Inc) in Q4-2013.

The company’s result for the three quarters: Q4-2014 – loss of Rs 1.7 crore: Q3-2014 – loss of Rs 1.78 crore: Q4-2014 – Profit of Rs 0.32 crore.

Sea TV claims to own a number of media establishments. Through its subsidiary Sea News Network, it runs a 24x7 news satellite channel SEA NEWS UP/UK, primarily having an eye over the happenings of Uttar Pradesh and Uttarakhand. Through its another subsidiary Sea Print Media & Publications, it operates its first venture in print media, Hindi Daily 'The Sea Express'. In addition to it, through its third subsidiary Jain Telemedia Services, the company operates another satellite channel focusing on Jainism - ‘Jinvani’. Besides, it says that it has been serving news and entertainment content to as many as 3.75 lakh households of Agra for past nine years through its MSO (Multi-System Operators) service.

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