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Sri Adhikari Bros cuts Q4 operating loss

MUMBAI: Sri Adhikari Brothers Television Network Limited cut its standalone operating loss to Rs 1.01 crore ( Rs 10.1 million) in the fiscal fourth quarter, from a loss of Rs 2.51 crore ( Rs 25.1 million) a year ago.

The company continued to bleed at net level as higher interest outgo along with operating expenses put pressure.

On operating revenues of Rs 16.71 crore ( Rs 167.1 million), up 2 per cent over its earlier-year, Sri Adhikari reported a net loss of Rs 3.60 crore ( Rs 36.0 million). In the previous fiscal, the company had reported net loss of Rs 3.02 crore ( Rs 30.2 million).

Content cost declined 8.6 per cent to Rs 13.83 crore ( Rs 138.3 mn). Other important elements in cost structure include employee costs, depreciation and other expenses.

Full-fiscal performance

On a consolidated basis, SAB TV’s net profit widened to Rs 5.52 crore ( Rs 55.2 million) in the fiscal ended 31 March 2014 compared to a profit of Rs 1.23 ( Rs 12.3 million) recorded during the previous fiscal.

Income from operations strengthened to Rs 180.37 crore ( Rs 1.80 billion), up 11.8 per cent helped by the improvement in broadcasting operations. The segment contributed Rs 108.89 crore ( Rs 1.09 billion), up 8 per cent year-on-year (YoY), and contributed 60 per cent to the topline.

Content production and distribution income aggregated to Rs 71.49 crore ( Rs 714.9 million), up 18.3 per cent YoY, and make up for 40 per cent of revenues. Content cost increased 9 per cent to Rs 115.29 crore ( Rs 1.15 billion). Broadcast business gobbled up about 60 per cent of production cost. Except for employee costs, other costs – depreciation and other expenses – witnessed steady rise in expenses. Total operating expenses grew 7.3 per cent to Rs 153.35 crore ( Rs 1.53 billion). Meanwhile, operating profit (EBITDA) increased 47.8 per cent to Rs 27.03 crore ( Rs 270.3 million).

The board has recommended a dividend of 60 paise per equity share of Rs 10 each for the financial year 2013-14, subject to the approval of shareholders in the ensuing annual general meeting.