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Q3-2016: Balaji revenue up 8%; reports higher programming hours
BENGALURU: Balaji Telefilms Limited reported eight per cent YoY growth in total income from operations (TIO) at Rs 78.65 for the quarter ended 31 December, 2015 (Q3-2016, current quarter) as compared to Rs 71.54 crore and 43.8 per cent QoQ jump from Rs 52.85 crore.
Note: (1)100,00,000 = 100 lakh = 10 million = 1 crore
Commissioned programs in the current quarter increased 24.4 per cent YoY to 712.2 hours as compared to 572.7 hours and increased 47.6 per cent as compared to 482.6 hours in the immediate trailing quarter. Net realisation per hour of commissioned programs increased 17.5 per cent YoY to Rs 24.2 lakh as compared to Rs 20.6 lakh, and was almost flat QoQ as compared to Rs 24.3 lakh.
The company’s revenue from commissioned programs segment in Q3-2016 increased 16.2 per cent YoY to Rs 72.01 crore as compared to Rs 61.97 crore and rose 40.7 per cent QoQ as compared to Rs 51.18. The segment’s operating profit in the current quarter more than doubled (by 2.5 times) YoY to Rs 18.94 crore and increased 45.7 per cent QoQ to Rs 13 crore.
Balaji’s other segment – Films, reported revenue of just Rs 1.12 crore in the current quarter as compared to Rs 0.13 crore in Q3-2015 and Rs 1.64 in the immediate trailing quarter. The Films’ segment reported operating loss of Rs 1.91 crore in the current quarter as compared to an operating loss of Rs 2.83 crore in Q3-2015 and an operating profit of Rs 0.06 crore in Q2-2016.
Other consolidated numbers reported by Balaji Telefilms
Total Expenditure in the current quarter declined 16.1 per cent YoY to Rs 68.68 crore as compared to Rs 81.81 crore, but increased 49.8 per cent as compared to Rs 45.85 crore in the immediate trailing quarter.
The company’s cost of production/acquisition and telecast fees increased 5.7 per cent YoY to Rs 68.04 crore as compared to Rs 64.39 crore, but declined 15.3 per cent QoQ as compared to Rs 80.22 crore.
Staff cost increased 16.9 per cent YoY to Rs 4.89 crore as compared to Rs 4.19 crore but reduced 1.2 per cent QoQ as compared to Rs 4.95.
Balaji Telefilms standalone numbers
Balaji Telefilms’ YoY standalone profit after tax (PAT) catapulted more than six-fold at Rs 20.66 crore (28.7 per cent margin) as compared to Rs 3.09 crore (5.4 per cent margin) and was double QoQ as compared to Rs 10.31 crore (20.2 per cent standalone margin) in the immediate trailing quarter.
The company reported 26 per cent YoY increase in standalone total income from operations (TIO) in the current quarter to Rs 72.3 crore from Rs 57.27 crore and 41 per cent jump from Rs 51.11 crore in Q2-2016.
Standalone EBIDTA more than quadrupled (by 4.24 times) YoY in Q3-2016 at Rs 18.05 crore as compared to Rs 4.25 crore and almost doubled (up 94 per cent) as compared to Rs 9.32 crore in the immediate trailing quarter.
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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.
