| MUMBAI:
BAG Films and Media, which has diverse interests across broadcasting, television
production and radio businesses, has managed to curtail its operating losses in
TV broadcasting and radio businesses for the quarter ended 30 June. The
operating loss in TV broadcasting segment, which includes Hindi news channel News24
and Bollywood entertainment channel E24, was Rs 67.10 million, compared to Rs
145.71 million a year ago. The
company's FM radio business, operating under the Dhamaal 24 brand, had a first-quarter
loss of Rs 6.79 million as against Rs 12.74 million in the prior-year quarter.
BAG
Films posted a consolidated net loss of Rs 87.96 million, compared to a loss of
Rs 135.23 million a year ago. Says
BAG Films and Media CMD Anurradha Prasad, "We have been able to improve the
performance of the company in this quarter through sustained impetus on the broadcasting
business and have been able to increase broadcasting revenues substantially. We
brought in efficiency by substantial reduction in cost of operations. With sustained
growth in revenues in broadcasting and many new shows coming up in Studio 24,
we are confident of improving further on our top line and bottom line." BAG
Films reported a 12.18 fall in total income to Rs 136 million for the quarter.
The company, however, reduced its total expenditure to Rs 287.11 million, from
Rs 427.60 million in the prior-year period. In
the TV broadcasting segment, revenue has soared 139.80 per cent to Rs 74.78 million,
compared to Rs 31.19 million a year ago. In
the radio business, revenue rose 15.35 per cent to Rs 6.43 million. In
the standalone business, however, BAG has suffered a net loss of Rs 24.31 million,
against a net profit of Rs 15.30 million in Q1 FY '09. Income
from operations dropped 70.49 per cent to Rs 54.78 million (from Rs 185.67 million).
Meanwhile, the company also managed to pin down expenditure to Rs 82.53 million,
from Rs 163.90 million in the corresponding quarter of the previous fiscal. "This
(closure of two TV shows) led to a fall in revenues of Studio 24 from Rs 121 million
to Rs 58.27 million," the company explains. During
the quarter, Studio24 launched Star Vivah, a weekday afternoon matrimonial show,
and primetime daily fiction show, Mitwaa - Phool Kamal Ke, on Star Plus. BAG
Films claims that it is getting good response from its southern operations with
two different shows - D for Dance on Zee Tamizh and SYE on Star
Suvarna. "All these shows would reflect in the revenues next quarter onwards,"
the company said. | 
