Television

Higher Operation costs pull down Raj TV Q2-2015 PAT to one fourth of Q1-2015

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BENGALURU: South Indian television network Raj TV Limited (Raj TV) reported PAT of Rs 0.755 crore (3.8 per cent of Total income from operations or TIO) in Q2-2015, which was a little more than one fourth (1/3.9 times) the Rs 2.922 crore (15.3 per cent of TIO) in Q1-2015 and a little more than one fifth (1/4.6 times) the Rs 3.46 crore (18.9 per cent of TIO) in Q2-2014.

For HY-2015, PAT was less than half (0.42 times) at Rs 3.43 crore (8.7 per cent of TIO) versus Rs 8.13 crore (22.2 per cent of TIO) in HY-2014.

Note: 100,00,000 = 100 Lakh = 10 million = 1 crore.

The company?s operations cost (cost of revenue or COR) in Q2-2015 at Rs 8.65 crore (43.1 per cent of TIO) was 39 per cent more than the Rs 6.22 crore (32.6 per cent of TIO) in Q1-2015 and 66.9 per cent more than the Rs 5.18 crore (28.2 per cent of TIO) in the corresponding quarter of last year.  COR for HY-2015 was reported at Rs 14.87 crore (38 per cent of TIO), 24.6 per cent more than the Rs 11.93 crore (32.6 per cent of TIO) in HY-2014.

An 83 per cent hike in the company?s Employee Benefit Expense (EBE) also contributed to the lower HY-2015 results. Increase in COR and EBE were the major contributors to the higher Total Expenditure in Q2-2015 and HY-2015.

Let us look at the other Q2-2015 results by Raj TV

TIO for the company in Q2-2014 was up 5 per cent at Rs 20.08 crore as compared to the Rs 19.11 crore in Q1-2015 and 9.4 per cent more than the Rs 18.35 crore in Q2-2014. For HY-2015, Raj TV reported 7 per cent higher TIO of Rs 39.19 crore versus Rs 33.64 crore in HY-2014.

Raj TV?s Total Expenditure (TE) in Q2-2015 at Rs 17.61 crore (87.7 per cent of TIO) was 19 per cent more than the Rs 14.8 crore (77.4 per cent of TIO) in Q1-2015 and 34.6 per cent more than the Rs 13.09 crore (71.3 per cent of TIO) in Q2-2014. For HY-2015, the company?s TE was reported at Rs 32.41 crore (82.7 per cent of TIO) was 25 per cent more than the Rs 25.94 crore (70.8 per cent of TIO) in HY-2014.

Raj TV?s administrative and other expense (A&OE) in Q2-2015 at Rs 2.83 crore (14.1 per cent if TIO) was 11.3 per cent more than the Rs 2.54 crore (13.3 per cent of TIO) but 7.6 per cent lower than the Rs 3.06 crore (16.7 per cent of TIO) in Q2-2014. A&OE for HY-2015 at Rs 5.37 crore (13.7 per cent of TIO) was 6.7 per cent lower than the Rs 5.75 crore (15.7 per cent of TIO) in HY-2014.

EBE in Q2-2015 at Rs 5.52 crore (27.5 per cent of TIO) was 1.7 per cent more than the Rs 5.43 crore (28.4 per cent of TIO) in the immediate trailing quarter and 53.4 per cent more than the Rs 3.6 crore (19.6 per cent of TIO) in the corresponding quarter of 2014. As mentioned above, EBE for HY-2015 at Rs 10.95 crore (27.9 per cent of TIO) was almost double (up 83 per cent) the Rs 5.98 crore (16.3 per cent) in HY-2014.

The company?s finance costs have gone up y-o-y. For Q2-2015, finance cost at Rs 1.4406 crore (7.2 per cent of TIO) was almost flat (down 0.4 per cent) as compared to the Rs 1.4471 crore (7.6 per cent of TIO) in Q1-2015, but 48.3 per cent more than the Rs 0.9715 crore (5.3 per cent of TIO) in Q2-2014. In HY-2015, finance cost at Rs 2.89 crore (7.4 per cent of TIO) was 60 per cent more than the Rs 1.8 crore (4.9 per cent of TIO) in HY-2014.

Click here for unaudited financial results

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