MAM
UFO Moviez reports Q2 & H1FY20 results
MUMBAI: UFO Moviez India Limited, India’s largest digital cinema distribution network and in-cinema advertising platform by number of screens, today, announced its financial results for the quarter and half year ended September 30, 2019.
Financial Highlights:
Quarter ended September 30, 2019
Consolidated revenue stood at ₹1,251 (Q2FY19 – ₹1,335) million. EBITDA stood at ₹271 (Q2FY19 – ₹338) million. PBT stood at ₹113 (Q2FY19 – ₹168) million. UFO has taken a write down of ₹126 Mn of its Net Deferred Tax Assets (DTA) while computing the tax expense with the reduced tax rate of 25.17% as introduced by Taxation Law (Amendment) Ordinance 2019. As a result, the Net Loss was ₹35 (Q2FY19 PAT – ₹108) million. Excluding this one-time impact, the PAT would have been ₹91 Mn.
Advertisement revenue stood at ₹379 (Q2FY19 – ₹490) million. Average advertisement minutes sold per show per screen stood at 4.34 (Q2FY19 – 5.08) minutes.
Half Year ended September 30, 2019
Consolidated revenues stood at ₹2,519 (H1FY19 – ₹2,682) million. EBITDA stood at ₹559 (H1FY19 – ₹621) million. PBT stood at ₹249 (H1FY19 – ₹286) million and PAT stood at ₹46 (H1FY19 – ₹184) million. Excluding the one-time write down of (Net DTA), the PAT would have been ₹172 Mn.
Advertisement revenue stood at ₹819 (H1FY19 – ₹942) million. Average advertisement minutes sold per show per screen stood at 4.45 (H1FY19 – 4.77) minutes.
“Corporate advertisement revenue performed broadly in line with the in-cinema advertising industry, however Government advertisement category remained weak during the quarter” said Kapil Agarwal, Joint Managing Director. “EBITDA was under pressure during the quarter on account of a weak Government advertisement performance, planned D-Cinema sunset impact and relatively weaker E-Cinema VPF performance. We reported Net Loss of ₹35 Mn during the quarter owing to one-time write down of net deferred tax assets of ₹126 Mn. Despite short term slowdown, we remain positive about the future and continue to make strides in improving advertisement revenues.”
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
