Television

Mukta Arts PAT at 1.04 per cent of income from ops for Q1-2014

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2015/08/28/logo_1.jpg?itok=JsAy6lcL

BENGALURU: Mukta Arts Limited (MAL) announced a PAT of Rs 0.74 crore and total income from operations of Rs 71.45 crore for Q1-2014, which translates roughly to 1.04 per cent for Q1-2014. A major chunk (63.1 per cent) of this PAT - Rs 0.47 crore for Q1-2014, came from discontinuing operations (see Notes (3) below).

PAT percentage for Q1-2013 was slightly higher at 1.21 per cent of total revenue, but numerically lower than Q1-2014 - PAT for Q1-2013 was Rs 0.59 crore, total income from operations was Rs 48.98 crore. Discontinuing operations added Rs 0.39 crore or 65.25 per cent of total PAT for Q1-2013.

MAL incurred loss of Rs 2.49 crore in Q4-2013. Loss from discontinuing operations added Rs 0.38 crore or 15.15 per cent to the loss for Q4-2013.

For FY-2013, MAL had total income from operations of Rs 257.82 crore and a PAT of Rs 2.90 crore, hence PAT was 1.13 per cent of total income from operations. Discontinuing operations added Rs 1.12 crore or 38.6 per cent to total PAT for FY-2013.

Let us take a look at MAL's other figures for Q1-2014

Total income from operations for Q1-2014 at Rs 71.45 crore increased by 45.9 per cent as compared to the Rs 48.98 crore for Q1-2013 and 21.3 per cent as compared to the Rs 58.92 crore for Q4-2013. As mentioned above, MAL's total income from operations for FY-2013 was Rs 257.82 crore.

Total Expenditure for Q1-2014 at Rs 70.34 crore rose 42.2 per cent as compared to the Rs 49.39 crore for Q1-2013 and was 13.6 per cent more than the Rs 61.91 crore for Q4-2013.

A major chunk of MAL's expenditure is the Distributors and Producers share (DAPS). For Q1-2014, DAPS at Rs 64.94 crore (90.9 per cent of Total Income from operations) was 40.2 per cent more than the Rs 46.32 crore (94.6 per cent of Total Income from operations) for Q1-2013 and 20.9 per cent higher than the Rs 53.73 crore (91.2 per cent of Total Income from operations). For FY-2013, MAL had reported a DAPS of Rs 233.74 crore or 90.7 per cent of Total Income from operations.

Segment Results

Four segments - Software division; Equipment division; Theatrical Exhibition division; and Others are responsible for revenue for MAL.

Revenue from MAL's Software division contributes more than 90 per cent to its revenues. For Q1-2014, the Software division had revenue of Rs 65.92 crore (97.3 per cent of Total Income from operations), which was 34.9 per cent higher than the Rs 48.86 crore (96.5 per cent of Total Income from operations) for Q1-2013 and 20.9 per cent higher than the Rs 54.54 crore (92.6 per cent of Total Income from operations) for Q4-2013. For FY-2013, revenue from Software division at Rs 246.47 crore was 95.6 per cent of Total Income from operations.

Revenues from MAL's Equipment division and Theatrical Exhibition division were a small fraction at Rs 0.31 crore and Rs 3.68 crore respectively of overall revenues for Q1-2014 and have not been major contributors to MAL's PAT for the quarter. Equipment division incurred a loss of Rs 0.06 crore in Q1-2014, while Theatrical division added Rs 0.08 crore to MAL's profit before tax and finance costs.

Revenue from 'Other' in Q1-2014 rose marginally (by 5.14 per cent) to Rs 1.71 crore from Rs 1.63 crore in Q1-2013 and was just 0.87 per cent higher than the Rs 1.70 crore for Q4-2013. This segment however added Rs 1.41 crore as compared to the Rs 0.69 crore from the Software division's and formed a major chunk (66.25 per cent) of MAL's profit before tax and finance costs for Q1-2014 at Rs 2.12 crore.

NOTES: (1) In the matter of two PIL's filed in the Bombay High Court, the Bombay High Court quashed the J.V. Agreement between Mukta Arts Limited (MAL) and Maharashtra Film Stage & Cultural Development Corporation Limited (MFSCDCL) and ordered Whistling Woods International (WWI) to return the 14.5 acre vacant land immediately and balance 5.5 acre land with structure by July 2014. Court also asked WWI to pay rent along with interest but allowed the same to be set off against market price of the building to be paid by Government as per valuation to be done. After Supreme Court of India dismissed the SLP filed by MAL against the impugned order, MAL & WWI have filed review petitions in Bombay High Court, which have not yet come up for hearing. MFSCDCL had demanded Rs 83.21 crore vide letter dated 3 December 2012, which has not been accounted for in view of the pending review petition referred to above. During the year 2012-13, the PWD Engineer has given his valuation report based on the Balance Sheet of WWI as at 31 March 2011. The said valuation report specifically mentions that market price is not considered.

Further, MAL has made an application to the Government of Maharashtra in February 2013 to appoint expert valuers to determine the market price which in its view is the price to be determined by reading the directions in their proper perspective. Pending final disposal of the review petition and resolution of the above, and in view of the future plans for WWI which are being evaluated, management believes that the Company's investments in WWI and amounts due therefrom are good and recoverable as management is hopeful of reliefs based on the issues involved and on merits of the case, as also of a high valuation of the building. The auditors continue to modify their report on the said matter.

(2) Remuneration paid to the managing director of the Company for the year ended 31 March 2013 and for earlier financial years from 2005-06 to 2011-2012 is in excess of the limits prescribed under Schedule XIII to the Companies Act, 1956. The Company made applications to the Central Government seeking post-facto approval for earlier years, which is awaited; application for the year 2012-13 is proposed to be made. During the year 2011-12, the company had received approval for part of the excess remuneration paid. The company had made applications to the authorities requesting reconsideration/ approval for the balance excess remuneration. Pending final communication from the authorities in this regard and application for the year 2012-13, no adjustment has been made in these financial results. The auditors continue to modify their report on the said matter.

(3) During the quarter ended 31 March 2013, the Board of Directors approved the formation, with another venturer, of a company as a subsidiary of Mukta Arts Limited to conduct the business of exhibition and programming currently being carried on by Mukta Arts Limited. The results of the said business have been disclosed as Discontinuing operations. Previous quarter's/period's figures have also been recast for comparative purposes.

(4) Figures for the previous quarter/ period have been regrouped/ rearranged to conform to current quarter's/ period's presentation.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/14/Jayantilal_Gada.jpg?itok=-ygDcfK4
PEN to launch Hindi music channel Dream TV

MUMBAI: Despite the glut of pure-play Hindi music channels on television today, Popular Entertainment Network (PEN) is adding one more to the fray. The new channel, called Dream TV, will provide 24-hour programming.

Television TV Channels Music and Youth
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/14/Bert_Habets.jpg?itok=_3lbVIV6
RTL Group restructures top management

MUMBAI: There’s change at the top at RTL Group–which owns Fremantle Media and operates a clutch of 61 TV channels–including RTL CBS and RTL CBS Extreme–and 30 radio stations in Europe. At his own behest, Guillaume de Posch will step down as co-CEO of RTL Group, effective 1 January 2018. He will...

Television TV Channels People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/13/james.jpg?itok=rGws6itt
Disney expected to announce 21 CF buyout tomorrow: media reports

The Mouse House is closing in on the Fox. Media reports have emerged that Disney’s bid to acquire the Murdoch-owned 21st Century Fox (21 CF Fox) group’s entertainment assets is near closure. The price being talked about is anywhere between $60 billion and $68 billion and an announcement is...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/13/zee-tamil.jpg?itok=zryzfAwz
World television premiere of Maragadha Naanayam on Zee Tamil

Zee Tamil announced the world television premiere of critically acclaimed Maragadha Naanayam – the fantasy-comedy-thriller film that features Aadhi Pinisetty and Nikki Galrani on Sunday, 17 December at 4:00 PM only on Zee Tamil. Written and directed by ARK Saravan, the movie is a perfect blend of...

Television TV Channels Regional
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/colp.jpg?itok=xKojrAKq
Republic TV to track real-time data for Gujarat elections

MUMBAI: Republic TV has partnered data-science company Gramener to track real-time data, along with analysis, during the Gujarat elections. According to a release sent by Republic TV, “Gramener will help enhance the visual look both on-air and on Republic’s digital platforms to present the data in...

Television TV Channels News Broadcasting
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/nakul1.jpg?itok=n95iPoI2
Nakul Chopra is new BARC chairman

MUMBAI: Nakul Chopra, currently president of Advertising Agencies Association of India (AAAI) and senior advisor of Publicis Communications, has been elected as the next chairman of BARC India. Chopra succeeds Viacom18 group CEO Sudhanshu Vats, who has completed his one-year tenure as chairman.

Television TV Channels Viewership
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/nitin.jpg?itok=w3KFq-K3
Nitin Kukreja joins iQuest

Former Star India sports head Nitin Kukreja has joined iQuest Enterprises as its chief executive officer. Kukreja had left Star in March this year. IQuest is an enterprise of Nimmagadda Prasad, the former owner of the Maa TV group, who has multiple business interests ranging from infrastructure to...

Television TV Channels Sports
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/12/sun.jpg?itok=qmg25IGp
Sun TV's unassailable lead continues, while Zee TV leads Hindi across genre

BENGALURU: The Sun network's flagship Tamil general entertainment channel (GEC) Sun TV continued its lead in ratings across all GECs on Indian television for week 48 of 2017 (25 November to 1 December 2017) according to Broadcast Audience Research Council (BARC) weekly ratings data

Television TV Channels GECs
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/12/11/vikas.jpg?itok=zxlytGcp
Republic TV, BTVI join hands for budget coverage

MUMBAI: Republic TV, spearheaded by Arnab Goswami, and Business Television India (BTVI) have entered into an alliance for content and programming around Union Budget 2018. The Republic TV- BTVI alliance promises to offer viewers a distinctive experience.

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories