BENGALURU:  B. A. G. Films and Media Limited (BAG Films) reported 12.5 per cent higher quarter-on-quarter (QoQ) revenue (net Total Income from Operations, TIO) for the quarter ended 31 December 2016 (Q3-2016, current quarter) at Rs 28.07 crore as compared to Rs 24.95 crore. Year-on year (YoY) TIO in the current quarter however declined 8.6 per cent from Rs 30.70 crore.

BAG Films’ Radio segment, Radio Dhamaal, which operates 10 FM radio stations in the country, reported 1.8 per cent QoQ drop in operating revenue growth at Rs 2.18 crore (7.8 per cent of TIO) as compared to Rs 2.22 crore (8.9 per cent of TIO) and 10 per cent YoY decline in revenue as compared to Rs 2.43 crore (7.9 per cent of TIO).

The radio segment’s operating profit in Q3-2016 was less than a third (down 68.1 per cent) QoQ at Rs 0.23 crore as compared to Rs 0.73 crore and less than a fourth (down 75.5 per cent) YoY as compared to Rs 0.94 crore in Q2-2015.

BAG Films reported Profit after Tax (PAT) for the current quarter at Rs 0.48 crore (1.7 per cent margin) as compared to a loss of Rs 3.66 crore in the immediate trailing quarter and more than double YoY profit as compared to Rs 0.22 crore (0.7 per cent margin) in Q3-2015.

EBITDA in the current quarter at Rs 8.97 crore (31.9 per cent margin) was more than double (2.3 times) the Rs 3.93 crore (15.8 per cent margin) in Q2-2016 and 10.4 per cent more than the Rs 8.12 crore (26.4 per cent margin) in the corresponding prior year quarter.

Let us look at the other numbers reported by B. A. G.  Films

B. A. G.  Films total expenditure in the current quarter at Rs 23.12 crore (82.4 per cent of TIO) was 6.1 per cent lower QoQ than Rs 24.62 crore (98.7 percent of TIO) and was 12.4 percent lower than the Rs 26.40 crore (98.4 percent of TIO), but increased 4 percent YoY from Rs 23.67 crore (86 percent of TIO).

Employee Cost in Q3-2016 at Rs 5.03 crore (17.9 per cent of TIO) was 4.3 per cent higher QoQ than Rs 4.82 crore (19.3 percent of TIO) and almost flat YoY (increased 0.1 per cent higher) that Rs 5.02 crore (17.1 per cent of TIO).

Segment Numbers

The company has mentioned 5 segments in its financial results. They are Audio-Visual Production (AVP); Movies: Leasing; FM Radio; and Television Broadcasting. While B.A.G.  Films Movies segment made no contribution to the company’s revenue or operating results in the current quarter, Q2-2015 or Q2-2016,  FM Radio numbers have already been mentioned above.

Television Broadcasting segment (TV segment)

BAG Films major segment, Television Broadcasting (TV segment) reported 4 per cent QoQ growth in segment revenue at Rs 22.53 crore (80.3 per cent of TI) as compared to Rs 21.66 crore (86.8 per cent of TIO), but a 6.5 per cent YoY revenue decline from Rs 24.08 crore (82.8 per cent of TIO).

BAG  Films TV segment reported 45.9 per cent QoQ growth in operating profit at Rs 7.40 crore as compared to Rs 5.07 crore, but a 20.5 per cent YoY drop in operating profit as compared to the Rs 59.30 crore.

Audio Visual Production segment (AVP segment)

AVP segment reported a more than triple (3.3 times) revenue in Q3-2016 at Rs 3.29 crore as compared to Rs 1 crore in Q2-2016, but a 17.6 per cent YoY decline as compared to the Rs 4 crore in Q3-2015. The segment reported an operating profit in Q3-2016 of Rs 1.72 crore as compared to a loss of Rs 0.66 crore in the previous quarter, but a 15.2 per cent YoY decline as compared to an operating profit of Rs 2.03 crore in Q3-2015.

Leasing segment (The numbers for this segment are mentioned in lakh – 100 lakh = 1 crore)

BAG Films leasing segment reported revenue of just Rs 6.4 lakh in the current quarter as compared to Rs 6.95 lakh in the previous quarter and Rs 19.8 lakh in Q3-2015.The segment reported an operating loss of Rs 110.23 lakh as compared to an operating loss of Rs 82.63 lakh in Q2-2016 and an operating loss of Rs 83.46 lakh in Q3-2015.