Movies
Demonetisation, decline in govt ads impact UFO Q2 numbers
BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform UFO Moviez Ltd (UFO) reported a 12.8 percent year-on-year (y-o-y) decline in consolidated operating revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with the corresponding year ago quarter. The company’s consolidated operating revenue was Rs 1,388.8 million for the quarter as against Rs 1,591.8 million for Q2 FY 2016-17. Advertisement revenue stood at Rs 372 million (Rs 517 million in Q2 FY 2016-17). Average advertisement minutes sold per show per screen stood at 3.52 minutes during Q2 FY 2017-18 (5.15 minutes in Q2 FY 2016-17).
The company’s consolidated net profit after tax declined by 47.8 percent y-o-y during the quarter under review to Rs 102 million from Rs 195.3 million. Consolidated operating profit excluding other income (EBIDTA) for Q2 FY 2017-18 fell by 31.8 percent y-o-y to Rs 374.7 million (26.1 percent margin) from Rs 549.7 million (34.5 percent margin).
“The last twelve months have been extremely challenging for the entire industry on account of one-off events such as demonetisation and implementation of GST, especially for the media sector, which was most severely impacted,” said UFO’s founder and managing director Sanjay Gaikwad. “Q2 FY 2017-18 was one of our toughest quarters. Advertisement revenue declined sharply on a high base of last year combined with slowdown in government advertisement spends. Nevertheless, we continue to remain extremely positive about the long-term growth prospects of the advertising business. We are hopeful that demand will pick up in a few months. The temporary slowdown has failed to deter us and we remain focused on achieving our long-term strategic goals by entering into a scheme of arrangement and amalgamation with Qube Cinema Technologies Pvt Ltd. We believe that this consolidation will further strengthen our position to capitalise on growth opportunities as the economy revives and gains steam.”
Total expenses in Q2 FY 2017-18 reduced by 2.7 percent y-o-y to Rs 1,014.1 million from Rs 1,042.1 million. Ad revenue share (expense) increased by 9.8 percent y-o-y to Rs 155.5 million from Rs 141.6 million. Visual print fees sharing expense decreased by 24.8 percent y-o-y to Rs 153.2 million from Rs 203.6 million. Other expenses increased by 0.9 percent y-o-y to Rs 212 million from Rs 201.2 million.
The company’s expense towards purchase of digital cinema equipment and lamps in the current quarter reduced by 1.8 percent y-o-y to Rs 159.5 million as compared with Rs 162.4 million. Employees’ benefits expense during the quarter under review dipped by 2.6 percent y-o-y to Rs 194.7 million from Rs 199.9 million. Other operating direct costs rose by 8.7 percent y-o-y during the quarter under review to Rs 140.4 million from Rs 129.2 million.
Hindi
ZEE5, Applause announce new film Everybody Loves Sohrab Handa
Rajat Kapoor’s dark comedy thriller to stream on ZEE5 from April 10
MUMBAI: ZEE5 and Applause Entertainment have announced their next direct-to-digital collaboration, Everybody Loves Sohrab Handa, a darkly comic whodunnit set to stream from April 10.
Produced in association with Mithya Talkies and written and directed by Rajat Kapoor, the film marks the latest addition to a growing slate of genre-diverse titles from the two partners. Their previous collaborations include dramas, psychological thrillers and dark comedies, with this outing leaning into a layered murder mystery.
The film features an ensemble cast including Vinay Pathak, Ranvir Shorey, Waluscha De Sousa and Saurabh Shukla, among others. The narrative promises a mix of satire, strained relationships and hidden tensions, inviting viewers to look beyond the crime to the dynamics that lead up to it.
ZEE5 business head hindi and chief channel officer Andtv Kaveri Das said, “Our collaboration with Applause Entertainment has been instrumental in building a strong slate with titles such as Bloody Brothers, Mithya and Jab Khuli Kitaab. Everybody Loves Sohrab Handa is a natural progression, aligning with our focus on genre-led content that resonates with audiences.”
Applause Entertainment business head movies Sunil Chainani said, “This collaboration with ZEE5 continues to stand out for its diversity of genres and narrative styles. Everybody Loves Sohrab Handa adds a sharp, darkly comic whodunnit to that mix, driven by Rajat Kapoor’s distinct voice.”
Sharing his creative approach, Rajat Kapoor said he was drawn to the emotional layers behind the genre. “I was interested not just in the mechanics of a whodunnit, but the emotional violence that precedes physical violence. These are people who appear close, yet carry unspoken tensions that eventually surface.”
The partnership between ZEE5 and Applause continues to build on a shared focus on distinctive storytelling, with each project exploring a different tone and genre.
With its mix of humour, tension and ensemble storytelling, the film aims to offer more than just a mystery. It promises a closer look at the secrets people keep, and the consequences when they finally come to light.
