Tips film segment reports loss of Rs 19.6 crore for Q2-2014; audio products PAT lower

BENGALURU: Note (1) Considering the nature of business carried on by the company whereby revenues do not necessarily accrue evenly over the year, the results of the quarter may not be representative of the result for the year. As such, the result of the current quarter is not comparable with the result of corresponding quarter.

(2) A major film project by the company starring Akshay Kumar ?Its Entertainment? is slated for release in May 2014.

Despite two significant releases in Q2-2014 ? Ramaiya Vastavaiya and Phata Poster and Nikla Hero, the Taurani brothers led Tips Industries Limited (Tips) reported a net loss of Rs (-22.32) crore for the quarter, with its film

production/distribution segment chipping in with loss of Rs (-19.6) crore.  The segment reported revenue of Rs 36.51 crore for Q2-2014, as compared to a small Rs 0.06 crore for the corresponding quarter of last year with a loss of (-1.99 crore) and the Rs 0.32 crore for Q2-2014 with a loss of Rs (-1.73) crore.

Audio products sales/income at Rs 6.48 crore for Q2-2014 was 20.3 per cent lower than the Rs 8.13 crore for Q2-2013 and 15.7 per cent lower than the Rs 76.9 crore for Q1-2014. The segment returned a profit of Rs 3.51 crore which was 46 per cent lower than the Rs 6.49 crore for Q2-2013 and 44.2 per cent lower than the Rs 6.29 crore for Q12-104.

Total Income from operations for Q2-2014 was Rs 42.99 crore, which was 5.25 times the Rs 8.18 crore for Q2-2013 and 5.37 times the Rs 8 crore q-o-q.

Total expenditure for Q2-2014 at Rs 62.67 crore was more than 10 times (10.55 times) the Rs 5.94 crore y-o-y and 9.98 times the Rs 6.28 crore q-o-q.

Correspondingly, cost of film production/distribution expense at Rs 55.39 crore for Q2-2014 was much higher than the Rs 1.14 crore for Q2-2013 and the Rs 1.28 crore for Q1-2014.

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