Sea TV Network reports higher income, higher pay channel charges lower PAT for Q2-2014

BENGALURU: UP based Agra headquartered media and entertainment industry player Sea TV Network Limited (sea TV) reported a 43.13 per cent increase in its standalone net income from operations for Q2-2014 at Rs 4.88 crore as compared to the Rs 3.41 crore for Q2-2013 and 11.15 per cent higher than the Rs 439.1 crore for Q1-2014.

PAT for Q2-2014 at Rs 0.0773 crore was a little over one fifth the Rs 0.3658 crore for Q2-2013 and a little more than a fourth of the Rs 0.3024 crore for Q1-2014. Exceptional items at Rs 0.2134 crore added to the company’s profit.

Pay channel charges form a major portion of Sea TV’s expenditure. The company paid Rs 1.56 crore during Q2-2014 against this head, 63.6 per cent higher than the Rs 0.9533 crore for Q2-2013 and 64.4 per cent higher than the Rs 0.9463 crore for Q1-2014.

Let us look at the other results recorded by Sea TV for Q2-2014

Expenditure for Q2-2014 at Rs 4.32 crore was 55.9 per cent higher than the Rs 2.78 crore for Q2-2013 and 17.7 per cent more than the Rs 3.67 crore for Q1-2013.

Depreciation for Q2-2014 at Rs 1.1343 crore jumped up almost six-fold (5.78 times) as compared to the Rs 0.20 crore for Q2-2013 and was almost flat (lower by 0.28 per cent) as compared to the Rs 1.1375 crore for Q1-2014.

Other expense for Q2-2014 at Rs 1.0625 crore was 1.9 per cent lower than the Rs 1.0832 crore for Q2-2013 and 1.5 per cent lower than the Rs 1.0469 crore for Q1-2014.

Reserves, excluding revaluation reserves at Rs 48.80 crore were 2.24 per cent higher than the Rs 47.73 crore for Q2-2013 and almost flat (0.16 per cent more) than the Rs 48.72 crore for Q1-2014.

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