Television

Q3: Bag Films’ TV broadcast business reports operating profit vs loss year ago

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BENGALURU: B.A.G. Films & Media Limited (Bag Films) reported improved y-o-y and q-o-q results generally for all the segments that contribute to its numbers .

The company’s television broadcasting segment reported 29.1 per cent rise in operating revenue to Rs 23.60 crore in Q3-2014 from Rs 18.28 crore a year ago and a 26.3 per cent rise from Rs 18.70 crore a quarter ago. In 9M-2014, the TV segment’s operating revenue grew 8.5 per cent to Rs 62.97 crore from Rs 58.03 crore a year ago. For FY 2013, the segment reported revenue of Rs 83.93 crore.

Segment Result:

TV segment reported an operating profit of Rs 8.56 crore in Q3-2014 against operating loss of Rs 1.51 crore a year ago and 18 per cent more than Rs 7.02 crore in Q2-2014. In the first nine months of 2013-14, the segment reported operating profit of Rs 21.67 crore, 33 times the operating profit of Rs 0.65 crore a year ago. For FY 2013, the segment had reported an operating profit of Rs 9.80 crore.

The operating loss of Rs 0.88 crore in Q3-2014 reported by the company’s FM Radio segment was narrower than Rs 1.15 crore a year ago and almost half  the Rs 1.71 crore a quarter ago. YTD, for 9M-2014, the segment’s operating loss of Rs (2.08) crore was more than 16 times the loss of Rs 0.13 crore in 9M-2013. For FY 2013, operating loss by the FM Radio segment was Rs (1.30) crore.

Its, audio visual production segment reported an operating profit of Rs 3.28 crore in Q3-2014 as compared to an operating loss of Rs 0.55 crore in Q3-2013 and more than double the Rs 1.56 crore in Q2-2014. During 9M-2014, the production segment reported an operating profit of Rs 4.4 crore as compared to an operating loss of Rs 0.39 crore in 9M-2013. During FY 2013, the segment reported an operating loss of Rs 2.78 crore.

Bag Films Movies segment reported Nil figures for all the periods, including FY 2013.

Bag Films’ leasing segment, which has so far contributed just a small fraction to revenues, reported loss of Rs 1.14 crore in Q3-2014, almost flat compared with Q3-2013 and against Rs 1.16 crore in Q2-2014. YTD, operating loss by the segment at Rs 3.05 crore was 16.4 per cent lower than the Rs 3.65 crore in 9M-2013. For FY-2013, the segment reported an operating loss of Rs 5.46 crore.

Let us look at the other Q3-2014 results reported by Bag Films:

Consolidated operating income for Q3-2014 was up 51.3 per cent to Rs 39.26 crore from Rs 25.95 crore in Q3-2103 and was 20.3 per cent more from Rs 32.65 crore for Q2-2014. Over 9M-2014, consolidated operating income at Rs 104.58 crore was up 23.3 per cent as compared to the Rs 84.79 crore in 9M-2013. For FY 2013, Bag Films reported Operating Income of Rs 117.55 crore.

Its consolidated total expense, excluding finance cost, for the period at Rs 45.80 crore was 34.8 per cent more than the Rs 33.99 crore in Q3-2013 and 26.7 per cent more than the Rs 36.16 crore in Q2-2014. Over 9M-2014, Total expense at Rs 103.6 crore was (5.4) per cent lower than the Rs 109.55 crore in 9M-2013. For FY 2013, the company reported Total expense of Rs 146.19 crore.

Finance Cost for Q3-2014 at Rs 4.53 crore was 80.6 per cent more than the Rs 2.51 crore in Q3-2013 and 25.5 per cent more than the Rs 3.61 crore in Q2-2014. In 9M-2014, Bag Films Finance Cost at Rs 18.18 crore was 2.41 times the Rs 7.54 crore in 9M-2013. For FY 2013, Finance cost was Rs 11.23 crore.

The company reported a consolidated loss in Q3-2014 at Rs 1.22 crore, much lower that Rs 7.79 crore in Q3-2013 and Rs 4.35 crore in Q2-2014. For the nine month period ended December 31, 2013, the company’s consolidated loss was Rs 7.50 crore against loss of Rs 19.87 crore in 9M-2013. For FY 2013, Bag Films reported consolidated loss of Rs 82.17 crore.

Segment Revenue:

TV revenue and results have been indicated above

FM Radio segment reported 22 per cent lower operating revenue in Q3-2014 at Rs 0.89 crore in Q3-2014 as compared to the Rs 1.13 crore in Q3-2013 and 14 per cent lower than the Rs 1.01 crore in Q2-2014. YTD, revenue of Rs 3.46 crore was 11.3 per cent lower than the Rs 3.9 crore in 9M-2013. The segment reported revenue of Rs 5.15 crore in FY 2013.

Production segment reported operating revenue of Rs 14.64 crore in Q3-2014, which was 2.31 times the Rs 6.33 crore in Q3-2013 and 14.3 per cent more than the Rs 12.81 crore in Q2-2014. During 9M-2014, Bag Films Production segment reported operating revenue of Rs 37.42 crore, which was 67.4 per cent more than the Rs 25.36 crore in 9M-2013. For FY 2013, the segment reported operating revenue of Rs 27.53 crore.

Leasing segment reported the following operating revenue numbers: Q3-2014 – Rs 0.1342 crore; Q3-2013 – Rs 0.1357 crore; Q2-2014 – Rs 0.2050 crore; 9M-2014 – Rs 0.7333 crore; 9M-2013 – Rs 0.5098 crore; FY 2013 – Rs 0.9475 crore.

Click here for full financials

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