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BAG Films’ TV segment profit drops 16%, radio segment turns positive in Q2
MUMBAI: The television segment of BAG Films and Media Ltd, which operates Hindi news channel News24 and Bollywood news and lifestyle channel E24, has seen a 15.8 per cent drop in its profit for the quarter ended 30 September.
Profit from the TV segment was at Rs 5.91 crore (Rs 59.06 million) for the quarter under review, as against Rs 7.02 crore (Rs 70.20 million) in the year-ago period.
This is despite the revenue from the television segment going up by 13.51 per cent to Rs 21.22 crore (Rs 212.24 million), from Rs 18.7 crore (Rs 186.97 million) in the year-ago period.
BAG Films’ radio segment, which operates Radio Dhamaal in 10 Tier II and III cities, turned positive during the quarter. It posted segment profit of Rs 25.22 lakh (Rs 2.52 million), compared to a loss of Rs 1.71 crore (Rs 12.08 million) in the earlier-year period.
Revenue from the radio segment jumped 75 per cent to Rs 1.76 crore (Rs 17.65 million), as against Rs 1.01 crore (Rs 10.1 million) in the year-ago period.
The audio-visual production segment saw its profit at Rs 1.98 crore (Rs 19.83 million), compared to Rs 1.56 crore (Rs 15.59 million) a year ago.
Revenue from the segment slipped to Rs 9.66 crore (Rs 96.58 million), from Rs 12.81 crore (Rs 128.05 million) in the previous fiscal.
Consolidated Q2 performance
On a consolidated basis, BAG Films’ net loss came down to Rs 2.93 crore (Rs 29.27 million) in Q2FY15. Net loss stood at Rs 4.35 crore (Rs 43.48 million) in the year-ago period.
Total income was marginally up at Rs 32.80 crore (Rs 328.04 million), compared to Rs 32.65 crore (Rs 326.48 million).
Total expense was at Rs 32.26 crore (Rs 322.63 million), down from Rs 33.99 crore (Rs 339.91 million) in the year-ago period.