Q3-2015: Motion Picture segment pulls Sahara One deeper in red; revenue plummets

BENGALURU: Sahara One Media and Entertainment Limited (Sahara One) reported less than one ninth (1/9.3 times) Income from operations (TIO) for Q3-2015 at Rs 2.20 crore as compared to the Rs 20.41 crore in the corresponding year ago quarter (Q3-2014) and less than a fourth (1/4.3 times) the Q2-2015 TIO of Rs 9.38 crore. 9M-2015 TIO also fell to 1/3.1 times at Rs 22.76 crore from Rs 70.43 crore in 9M-2014.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

The company reported higher loss in Q3-2015 at Rs 15.72 crore as compared to a loss of Rs 3.36 crore in Q3-2014 and a loss of Rs 10.36 crore in the previous quarter. Loss in 9M-2015 was Rs 28.39 crore versus a profit of Rs 1.94 crore in 9M-2014.

A major portion of the loss could be attributed to the Sahara One’s Motion Picture segment. This segment reported an operating loss of Rs 14.84 crore against revenue of Rs 0.19 crore in Q3-2015. The company’s Television Broadcasting  segment reported an operating loss of Rs 0.79 crore in the current quarter on revenue of Rs 2.33 crore. However, last quarter, the company’s television segment had reported loss of Rs 9.30 crores and revenue of Rs 9.94 crore.

Sahara One’s Total Expenditure (TE) in in Q3-2015 at Rs 18.99 crore (8.6 times TIO) was 16.3 per cent lower than the Rs 23.54 crore (111.1 per cent of TIO) in Q3-2014 and 6.3 per cent less than the Rs 20.33 crore (216.8 per cent of TIO) in the trailing quarter. TE in 9M-2015 at Rs 54.41 crore (239.1 per cent of TIO) was 25.5 per cent lower than the Rs 75.22 crore (106.8 per cent of TIO) in 9M-2014.

A major portion of the company’s TE is purchase of content cost (POC). The company’s POC cost fell to less than half (46.8 per cent) in Q3-2015 at Rs 13.60 crore (617.8 per cent of TIO) as compared to the Rs 29.06 crore (142.4 per cent of TIO) in Q3-2014, but was 2.6 times higher than the Rs 5.26 crore (56.1 per cent of TIO) in Q2-2015. POC cost in 9M-2015 was 1/2.4 times at Rs 28.76 crore (126.3 per cent of TIO) as compared Rs 68.29 crore (97 per cent of TIO) in 9M-2014.

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