MAM

Bag Films q-o-q loss up 34% for Q2-2014; Radio segment major contributor to loss

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BENGALURU: B.A.G. Films & Media Limited (Bag Films) reported consolidated income from operations of Rs 32.65 crore for Q2-2014 which was 9.7 per cent lower than the Rs 36.13 crore for Q1-2013 and almost flat as compared to the Rs 32.67 crore for Q1-2014. The company reported a 33.8 per cent higher loss at Rs (-4.35) crore for Q2-2014 as compared to the Rs (-3.25) crore for Q1-2014. Bag Films had reported a profit of Rs 5.62 crore for the corresponding quarter of last year (Q2-2013). For FY-2013, Bag Films had reported a loss of Rs (-8.86) crore.

Bag Films’ Radio segment was a major contributor to the loss for Q2-2014. The segment reported revenue of Rs 1.01 crore for Q2-2014, which was 44.4 per cent lower than the Rs 1.82 crore for Q2-2013 and 35.3 per cent lower than the Rs 1.56 crore for Q1-2014.

Bag Films FM Radio segment incurred a massive loss of Rs 1.71 crore (39.3 per cent of total loss) for Q2-2014. FM Radio segment had returned positive results of Rs 0.1257 crore for Q2-2013 and Rs 0.5086 crore for Q1-2014. Bag Films FM Radio segment operates under the brand name ‘Radio dhamaal’ and is available at the frequency of 106.4 and is present in seven states and 10 towns of India.

Let us look at the other consolidated figures reported by Bag Films for Q2-2014

Total expenditure for Q2-2014 at Rs 33.99 crore was one per cent more than the Rs 33.64 crore for Q2-2013 and 1.6 per cent higher than the Rs 33.44 crore for Q1-2014.

Other expense at Rs 26.03 crore for Q2-2014 was eight per cent higher than the Rs 24.09 crore for Q2-2013, but 13.4 per cent lower than the Rs 30.07 crore for Q1-2014.

Finance cost for Q2-2014 at Rs 3.61 crore was 29.4 per cent more than the Rs 2.79 crore for Q2-2013, but 1.9 per cent lower than the Rs 3.68 crore for Q1-2014.

Segment Results

Bag Films operates in five segments: Audio-visual production, Movies, Leasing, FM Radio and Television Broadcasting.

Its audio-visual production segment reported revenue of Rs 12.80 crore for Q2-2014 which was 42.2 per cent more than the Rs 9 crore for Q2-2013 and 28.2 per cent more than the Rs 9.98 crore for Q1-2014. This segment returned positive result of Rs 1.56 crore which was 24.6 per cent lower than the Rs 2.07 crore of the corresponding quarter of last year. The segment had returned negative results of Rs (-0.44) crore for Q1-2014.

Bag Films leasing segment had segment revenue of just Rs 0.1357 crore for Q2-2014 as compared to the Rs 0.1871 crore for Q2-2013 and the Rs 0.4634 crore for Q1-2014. Loss from this segment was another major contributor (26.7 per cent of total loss for the quarter) to the overall loss incurred by the company. For Q2-2014, Bag Films leasing segment reported loss of Rs (-1.16) crore, which was 7.5 per cent lower than the Rs (-1.25) crore for the corresponding quarter of last year about 2.61 times the loss of Rs (-0.44) crore for the immediate trailing quarter.

Bag Films runs News 24 and E24 television channels. Its television broadcasting segment reported 25.6 per cent lower revenue at Rs 18.70 crore as compared to the Rs 25.13 crore for the corresponding quarter of last year and 9.5 per cent lower than the Rs 20.67 crore for Q1-2014. This segment returned a 20 per cent lower positive Rs 7.02 crore as compared to the Rs 8.78 crore for Q2-2013,but 15.3 per cent more than the Rs 6.09 crore for Q1-2014.

The company reported nil results for its Movies segment.

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