Scatmag.com

February 2019


BUSINESS NEWS


ESSEL: $400 M TO REFINANCE DEBT

Subhash C h a n d r a - p r o m o t e d Essel Group is in talks w i t h investors to raise as much as $400 million, to refinance a part of the promoter debt which becomes payable during the next few quarters. Essel's Mauritius holding company has a debt of over $800 million.

Potential lenders include AION Capital and KKR.

Earlier plans to raise funds through overseas bonds did not take off due to difficult market conditions.


JIO TO DEMERGE TOWERS & FIBRE

JIO is demerging its fibre and tower businesses into Jio Digital Fibre Pvt Ltd and Reliance Jio Infratel Pvt Ltd, respectively.

"The end objective will be to have different set of investors who would want to run these companies." RIL's joint CFO Srikanth Venkatachari told reporters.

For the fiscal third quarter, JIO posted a net profit of ₹ 831 crore, compared with ₹ 681 crore in the July- September period, and ₹ 504 crore a year ago.

Backed by an addition of 27.9 million subscribers, monthly average data usage of 10.8 GB and voice consumption of 794 minutes, operating revenue rose 12.4% sequentially and 51% on year to ₹ 10,383 crore for the mobile phone operator.

ARPU however continued to fall as it added rural consumers with its 4G feature phone. ARPU fell to ₹ 130 from ₹ 131.7 in the last quarter, and was ₹ 154 a year ago.


CATVISION REVENUES HIT

The MIB has not issued a single new Headend license since September 2017. As a direct consequence, Catvsion Ltd's revenues have fallen sharply.

Catvision offers digital headend equipment for the cable ZTV industry.

1HFY19 revenue was ₹ 20.473 crore (compared to ₹ 43.5 Cr in 1HFY18). EBITDA margin was negative 0.80% (8.40%).

Incorporated on 28 June 1985, Catvision is one of India's oldest CATV equipment manufacturers.

Catvision expects better performance now that the MIB has committed to restart DAS Headend licensing. It also plans to launch a slew of new STBs & products this year that incorporate some streaming features like casting and search.





DEN REPORTS LOSS

D e n Networks L t d reported 6% drop in consolidated operating revenue for the quarter ended 31 December 2018 compared to the year ago quarter. EBITDA declined 39% y-o-y to ₹ 48.10 crore

Q3 suffered a net loss of ₹ 31.21 crore compared to a profit after tax of ₹ 1.73 crore in Q3 2018.

Total Comprehensive Loss was ₹ 31.06 crore, compared to a Total Comprehensive Income of ₹ 1.31 crore in Q3 2018.

Cable revenue fell 6.1% y-o-y in Q3 2019 to ₹ 291.59 crore. Cable had an operating loss of ₹ 8.95 crore, compared to an operating profit of ₹ 25.20 crore in Q3 2018.

Den CEO SN Sharma said, "Cable subscription ARPU is consistent with respect to the previous quarter which stood at ₹ 96 per box (including tax)."

On 17 October 2018, Reliance Industries Ltd paid ₹ 2,290 Crore for a 66% stake in Den & ₹ 2,940 Crore for a 51.3% stake in Hathway Cable and Datacom Ltd.


UCN PROFITS IMPROVE

Nagpur based MSO - UCN Cable Network's net profit & revenue improved in FY ended 31st March 2018. Net profit was up at ₹ 2.12 crore from ₹ 42 lakh in the previous fiscal. It was ₹ 3.33 crore in FY16.

EBITDA increased to ₹ 17.91 crore from ₹ 16.96 crore in FY17 and ₹ 17.75 crore in FY16.

Operating revenue jumped to ₹ 99.29 crore from ₹ 91.62 crore in FY17 & ₹ 106.9 crore in FY16.

Incorporated in 2006, the company is promoted by Ashutosh Kane, Ajay Khamankar and Jagdish Paliya. It provides Internet & cable TV distribution.

It has around 800,000 CATV & 5300 broadband users in & around Nagpur.

Average Revenue Per User (ARPU) is approximately ₹ 51.



ABP NEWS - NEW CEO

ABP News Network (ANN) has promoted Avinash Pandey as the chief executive officer (CEO), from COO.

Pandey has more than 20 years' experience in News Media, Advertising, Sales, Distribution, Marketing, and Content Creation. He has been with ANN since 2005, guiding the growth of advertising revenue and playing a key role in the expansion of the network's reach over the past decade.



DD REVENUES

According to I&B minister Rajyavardhan Singh Rathore, Doordarshan has earned the following net revenues in the past 3 years:

₹ 516.3 crore in FY 2016.

₹ 505.11 crore in FY17

₹ 525.49 Crore in FY 2018.

Revenue earned includes advertisements of Government Departments/ Ministries.

Doordarshan currently operates 23 DD Channels.

The Expenditure Finance Committee has recommended an outlay of ₹ 1054.52 crore for three years (2017-18, 2018-19 & 2019-20) for Prasar Bharati (AIR/DD).


TIMES GROUP: PROFITS PLUNGE

Bennett Coleman & C o m p a n y (BCCL), one t h e c o u n t r y ' s largest news media groups, HAS SEEN its net profit decline for 2 consecutive years since 2015-16.

BCCL, known as the Times Group in India, registered a 6.84% dip in its net profit in 2017-18. The firm's consolidated net profit had plunged by 50.54% the previous year.

In 2017-18, Times Group's operating revenue rose 3.34% to ₹ 9,055 crore from ₹ 8,762 crore a year ago. However, its net profit stood at ₹ 681 crore, down from ₹ 731 crore in 2016-17.

In 2016-17, net profit more than halved from ₹ 1,478 crore in 2015-16.


TV18 Q3 EBITDA JUMPS 41%

TV broadcast network TV18 reported a 41% jump in operating EBITDA to ₹ 115 Crore in Q3FY19, despite continuing investments into recent launches like Colors Tamil and Colors Kannada Cinema.

Operating revenue rose 22% YoY led by advertising, successful movies like 'Andhadhun' and healthy growth in subscription income.

TV18 standalone operating EBITDA comprising the TV news business saw a 130% increase at ₹ 47 crore. The standalone operating revenue increased 16% to ₹ 290 crore.

TV18's subscription revenue increased 13% to ₹ 328 crore.


ZEEL NET PROFIT UP 50%

Zee Entertainment Enterprises (ZEEL) has reported a 50.56% increase in consolidated net profit to ₹ 562.76 crore for Q-3 ended December 31, 2018. Total income stood at ₹ 2,252.75 crore, up 19.43% from a year ago.

Ad revenue grew 21.7% y-o-y to ₹ 1,462.6 crore.

Subscription revenue grew 23.3% to ₹ 618.5 crore. Domestic subscription revenue for Q-3 was up 28.6% YoY, whereas international subscription revenue grew 1.2% YoY.

According to the company, "Higher than normal domestic subscription revenue growth was on a low base and driven by monetisation of phase-III subscribers".


NETWORK18 DIGITAL CEO QUITS

N e t w o r k 1 8 Media & Investments Ltd.'s Digital CEO Manish Maheshwari has quit & is serving his notice period.

He joined the company in April 2016 & managed Firstpost, News18, Moneycontrol, CNBC-TV18, In.com and CricketNext.

Maheshwari had worked with Flipkart before joining Network18. n