Fiction
Q2-2015: Commissioned programmes cushion Balaji Telefilms’ loss
BENGALURU: Balaji Telefilms reported less than half the q-o-q total income from operations (TIO) (1/2.3 times) for Q2-2015 at Rs 58.89 crore versus the Rs 136.03 crore in Q1-2015 and less than a third (1/3.3 times) of the Rs 194.62 crore in Q2-2014. For HY-2015, the company’s TIO at Rs 195.89 crore was 29.8 per cent lower than the Rs 279.07 crore in HY-2014.
Note: 100,00,00 = 100 Lakhs = 10 million = 1 crore
Commissioned programs cushioned the loss from the company’s film segment. Revenue from commissioned programs went up 7.2 per cent to Rs 49.33 crore in Q2-2015 from Rs 46 crores in Q1-2015 and was 64 per cent more than the Rs 30.09 crore in Q2-2014. For HY-2015, this segment had 81.7 per cent higher revenue at Rs 95.32 crore versus the Rs 52.46 crore in HY-2014.
Commissioned programs reported an operating profit of Rs 5.85 crores in Q2-2015, which was 5 per cent lower than the Rs 6.16 crore in Q1-2015 and 60.8 per cent more than the Rs 3.64 crore in Q2-2014. For HY-2015, operating profit from commissioned programs more than tripled (went up 3.1 times) at Rs 12.01 crore versus Rs 3.86 crore in HY-2014.
Overall, Balaji has returned a loss of Rs 7.58 crore in Q2-2015 versus a profit of Rs 10.56 crore in Q1-2015 and a profit of Rs 12.32 crore in Q2-2014. For HY-2015, Balaji Telefilms reported a profit of Rs 2.98 crore which was less than a fifth (19.7 per cent) of the Rs 15.94 crore in HY-2014.
The company’s film segment, which contributes a major percentage to its TIO, reported poor results. Revenue of Rs 9.43 crore from this segment in Q2-2014 was less than one-ninth (1/9.5 times) the Rs 89.34 crore in Q1-2015 and less than one seventeenth (1/17.4) the Rs 164.05 crore in Q2-2014. For HY-2015, Film segment revenue of Rs 98.77 crore in HY-2015 was less than half (1/2.3 times) the Rs 225.70 crore in HY-2014.
Films segment reported a loss of Rs 7.46 crore versus operating profit of Rs 10.97 crore in Q1-2015 and an operating profit of Rs 11.81 crore in Q2-2014. Operating profit in HY-2015 at Rs 3.52 crore was less than half the Rs 8.24 crore in HY-2014.
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Fiction
Warner Bros Discovery sees Sachem Head double stake in Q4 filing
Activist fund ups bet as Paramount circles and Netflix deal looms
NEW YORK: Warner Bros Discovery has drawn fresh activist attention, with hedge fund Sachem Head Capital Management more than doubling its stake in the media giant during the fourth quarter, according to a regulatory filing.
The fund, one of 2025’s best performers, said it held nearly 8 million shares in Warner Bros Discovery by the end of December. The position ranks among its ten largest US equity bets, underlining growing investor interest in the company as takeover drama gathers pace.
The move comes at a pivotal moment for the studio and streaming group. Warner Bros Discovery has agreed to sell its streaming and studios business to Netflix, a deal that has stirred interest across the industry and sparked a rival approach from Paramount Skydance.
Paramount has already made a hostile bid that was rejected last month, but it is far from backing down. This week, the company stepped up pressure on Warner Bros Discovery, urging the board to at least consider whether its offer could be made more attractive than Netflix’s proposal.
Paramount has also hinted at a possible boardroom battle, suggesting it could attempt to replace directors. It even floated the idea of bringing in the head of Pentwater Capital Management, one of Warner Bros Discovery’s largest investors, as a potential board candidate.
With a market value of about 70 billion dollars, Warner Bros Discovery now sits at the centre of a high stakes contest between strategic buyers and activist investors. Sachem Head’s increased holding signals that the hedge fund sees opportunity in the turbulence.
The filing also revealed new bets by Sachem Head elsewhere. The fund bought 5.2 million shares in telecoms company EchoStar, and opened fresh positions in used car retailer Carvana and entertainment group Live Nation.
Such filings offer a snapshot of hedge fund portfolios at the end of the previous quarter. While they are backward looking, investors still track them closely for clues on which stocks are gaining favour or becoming targets for change.
