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Earnings Digest: Zee News, ZEEL, TV Today, SUN TV, Tata Comm, Mid Day, Balaji Telefilms

Zee News Rev Falls 52.8%

Zee News has recorded a 52.8% fall in consolidated revenues year on year to Rs. 648.5 million in the quarter ended June 2010. Net profit fell 72.2% year on year to Rs. 33 million. Expenditure also reduced considerably by 48.6% to Rs. 594.3 million.

The segment comprising Zee News, Zee Business, Zee 24 Taas, Zee Punjabi and 24 Ghanta reported an EBITDA of Rs. 208.3 million with 34% margin. New channels together racked up operating losses of Rs. 136.07 million in the quarter.

ZEEL Net Profit Up 64.3%

Ad revenues for Zee Entertainment Enterprises Ltd were up 90.4% year on year at Rs. 3,769 million while subscription revenues stood at Rs 2,614 million for the quarter ended June 2010.  The company reported a 64.3% increase in consolidated net profit of Rs. 1,501 million over revenues of Rs 6,770 million, which grew 42.2% year on year. EBITDA margins were at 20.6% on Rs. 1,870 million. Expenditure rose 36.5% to Rs. 4,900 million compared to the corresponding quarter last year.

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Launches: Zee TV launched a reality dance show DID Lil Masters – Dance Ke Baap and Mera Naam Karegi Roshan while Zee Café launched Cougar Town, Greys Anatomy 6, and Chopping Block. Zing, the network’s music and lifestyle channel, launched Inside Bollywood and World of Bollywood and chat show In Conversation with. ETC, the Bollywood trade channel, saw the launch of shows like ETC Bollywood Business with Komal Nahta and Bol India Bol.

In Russia, Zee signed a deal with Ukrainian DTH operator called “MYtv”.

The company witnessed sports business revenues of Rs 832 million in the quarter, and incurred costs of Rs 1,186 million.

TV Today Net Profit Tanks

Consolidated net profits for the India Today group and Living Media Digital owned broadcaster TV Today Networks Ltd, which runs news channels Aaj Tak and Headlines Today, have crashed 94% to Rs. 10.07 million in the June 2010 quarter from Rs. 166.44 million in the June 2009 quarter. Expenses have risen 15.4% to Rs. 648.18 million year on year while revenues have dipped 8.5% to Rs. 650.08 million.

Tata Communications Net Losses Soar

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Tata Communications has witnessed consolidated net losses for the quarter ending June 2010 reaching Rs. 2,649.5 million, more than 6 times the losses recorded in the same quarter last fiscal. The company’s consolidated revenues rose 12.6% to Rs. 28,845 million while expenditure rose 19% year on year to Rs. 30,076 million.

In the quarter, Tata Communications partnered with Hibernia Media to share each others video networks. It also extended further in Russia and partnered with Infinity Africa, a licensed Data Services Provider in Tanzania.

Mid-Day’s Net Losses Rise

Consolidated net losses for Mid-Day Multimedia have multiplied to Rs. 48.1 million, a 362.5% rise year on year. Revenues rose 17.4% to Rs. 358.5 million in the quarter ended June 2010. General administrative expenses rose 10.4% to Rs. 169.7 million. It included employee costs of Rs. 93.3 million for the quarter.

In May, the company announced the merger of its publishing division with Jagran Prakashan Ltd, which is in effect from April 2010.

SUN TV Net Profit Up 42.7%

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Sustained advertising growth and subscription revenues contributed to broadcaster Sun TV Networks Ltd’s 42.7% rise in net profits to Rs. 1709.5 million over revenues of Rs. 4404.4 million which rose 53.1% year on year. Consolidated expenditure rose 64.1% to Rs. 1952.8 in the quarter ended June 2010 compared to the corresponding quarter in 2009. EBITDA also rose to Rs. 3599 million.

Balaji Telefilms Net Profit Down 67.3%

Ekta Kapoor’s Balaji Telefilms has recorded a 67.3% fall in net profits to Rs. 29.3 million year on year. Consolidated revenues fell 22.4% to Rs. 308.52 million for the quarter ended June 2010 from Rs. 397.82 million in the same quarter last fiscal. Total expenditure reduced 6.2% to Rs. 365.38 million in the quarter.

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