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Q3 2019: BAG Films Television and Radio Dhaamal profits up

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BENGALURU: The Anurradha Prasad-led BAG Films and Media Ltd (BAG Films) reported 38.1 per cent higher year-on-year (y-o-y) consolidated revenue for the quarter ended 31 December 2018 (Q3- 019, period or quarter, under review) at Rs 48.67 crore as compared to Rs 33.94 crore in the corresponding prior year quarter.

BAG Films radio segment, Radio Dhamaal, which operates 10 FM radio stations in the country, reported 17.2 per cent y-o-y increase in operating revenue at Rs 3.06 crore for Q3 2019 as compared to Rs 2.61 crore for Q3 2018.

The radio segment’s operating profit in Q3 2019 was more than double (up 131.7 per cent) y-o-y at Rs 1.64 crore as compared to Rs 0.71 crore in Q3 2018.

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

(2) All numbers are consolidated numbers unless stated otherwise.

BAG Films reported more than eightfold increase (up 743.9 percent) in consolidated Profit after Tax (PAT) and Total Comprehensive Income (TCI) for the quarter under review at Rs 9.3 crore as compared to a loss of Rs 1.11 crore in Q3-2018.

EBITDA in the period under review at Rs 15.75 crore (33.6 per cent margin of operating revenue) increased 85.4 percent y-o-y as compared to Rs 8.49 crore (25 per cent margin of operating revenue) in the corresponding prior year quarter.

Segment Numbers

The company has mentioned 4 segments in its financial results. They are Audio-Visual Production (AVP); Leasing; FM Radio; and Television Broadcasting. FM Radio numbers have already been mentioned above.

Television Broadcasting segment (TV segment)

BAG Films major segment, Television Broadcasting (TV segment) reported almost flat revenues (0.6 percent y-o-y growth) for Q3 2019 at Rs 29.48 crore as compared to Rs 29.30 crore in Q3 2018.

The TV segment reported 22.4 per cent y-o-y growth in operating profit at Rs 16.62 crore as compared to Rs 13.58 crore in Q3 2018.

Audio Visual Production segment (AVP segment)

AVP segment reported more than double (2.39 times) revenue in Q3-2019 at Rs 4.16 crore as compared to Rs 1.74 crore in Q3-2018. The segment reported an operating profit in Q3-2019 of Rs 2.35 crore as compared to a loss of Rs 0.20 crore in the corresponding quarter of the previous year.

Leasing segment (The numbers for this segment are mentioned in lakh – 100 lakh = 1 crore)

BAG Films leasing segment reported revenue of just Rs 16.30 lakh in the quarter as compared to Rs 29.01 lakh in Q3-2019.The segment reported an operating loss of Rs 74.70 lakh as compared to an operating loss of Rs 102.84 lakh in Q3-2018.

Let us look at the other numbers reported by B. A. G.  Films

BAG Films total expenditure in the current quarter at Rs 38.26 crore (81.6 per cent of operating revenue) was 14.9 per cent higher y-o-y than Rs 33.29 crore (98.1 percent of operating revenue) in Q3 2018.

Employee Cost in Q3-2019 at Rs 6 crore (12.8 per cent of operating revenue) was 10 per cent lower  y-o-y than Rs 6.67 crore (19.7 percent of operating revenue) in the corresponding year ago quarter.

Other expenses in Q3 2019 increased 25.4 percent y-o-y to Rs 24.49 crore from Rs 19.53 crore in Q3 2018. Finance costs in Q3 2019 increased 5.4 percent y-o-y to Rs 3.97 crore from Rs 3.76 crore in the corresponding prior year quarter.

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