UTV posts Rs 160 million net profit, total revenues Rs1,510 million
(Posted on 30 June 2001, 11.50 pm)
The Ronnie Screwvalla-promoted UTV Software Communications Ltd's
financials are out and it has made a net profit of Rs 160 million
rupees on a total revenue of Rs 1,510 million for the year ending
March, industry sources say.
Sources have been able to extrapolate the following information:
For the year ending March 2001, the group's media revenues were
Rs 1,510 million.
Earnings
before interest, taxes, depreciation and amortisation (EBITDA)
were Rs 320 million, with a profit before tax (PBT) of Rs 200
million and a profit after tax (PAT) of Rs 160 million.
The
revenue represents a 28 per cent jump over the last year, EBITDA
a jump of 151 per cent and PAT an increase of 167 per cent.
From
this year, they follow an accounting policy of 100 per cent write-off,
which further made a deviation of profits of Rs 35 million. UTV
follows a five-year write-off policy on all their plant, machinery
and equipment. The group's accounts are audited by Arthur Andersen.
Their prospectus draft and research report show a paid up capital
of Rs 120 million, therefore their earnings per share (EPS) in
March 2001 would be Rs3.40.
The
group's revenues and net profits come from multiple streams, broadly
broken up as: - TV Content: 40 per cent - Ads / Dubbing / Inflight
/ Live Events: 15 per cent - Motion Pictures: 12 per cent - Post
Production: 20 per cent - Animation: 10 per cent - Air time sales
and distribution: 3 per cent.
The Group has over 400 clients. The top 10 clients represent only
21 per cent of the revenue stream. Therefore their client dependency
on any one single client is not too high. Of the 400 clients,
45 are international and global clients and export and international
business represents 18 to 20 per cent of their annualised figures.
UTV
Software Communications is made up of United Television (UTV)
and four subsidiaries - Vijay TV, UTV Singapore, UTV Malaysia
and UTV Interactive.
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