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Pay channel charges, interest burden chew Sea TVs bottom line
MUMBAI: Agra-based multi-system operator (MSO) Sea TV Network has slipped into losses due to higher pay channel charges in the fiscal third-quarter.
The company reported a net loss of Rs. 1.78 crore (Rs 17.8 million) in the three-month period ended 31 December 2013 on an operating revenue of Rs. 3.98 crore (Rs 39.8 million).
In the preceding quarter, it had posted a net profit of Rs. 82.3 lakh (Rs 8.23 million) on an operating revenue of Rs. 4.88 crore (Rs 48.8 million).
Not only did its operating revenue show a decline of 18.4 per cent, but it also incurred operating losses of Rs. 34.69 lakh (Rs 3.47 million).
Owing to higher outgo in terms of pay channel charges, total operating expenses also edged up 4.5 per cent to Rs. 4.51 crore (Rs 45.1 million). Apart from higher pay channel charges, increased interest burden in the fiscal third-quarter left a huge dent on the company’s bottom line.
Interest outgo nearly doubled to Rs. 1.27 crore (Rs 12.7 million) in the third quarter compared to Rs. 67.41 lakh (Rs 6.74 million) in the prior three months.
Sea TV raised Rs. 50.20 crore (Rs 502.0 million) through an initial public offering (IPO) and has so far utilised Rs. 50.14 crore (Rs 501.4 million). Sea TV has till now spent Rs. 32.66 crore (Rs 326.6 million) towards converting the analogue system of distribution to digital addressable system (DAS).
It incurred expenses of Rs. 15.55 crore (Rs 155.5 million) towards setting up its own cable distribution (underground optical fibre) network capable of digital transmission throughout the city of Agra and adjoining areas.
Read full Here
MUMBAI: Agra-based multi-system operator (MSO) Sea TV Network has slipped into losses due to higher pay channel charges in the fiscal third-quarter.
The company reported a net loss of Rs. 1.78 crore (Rs 17.8 million) in the three-month period ended 31 December 2013 on an operating revenue of Rs. 3.98 crore (Rs 39.8 million).
In the preceding quarter, it had posted a net profit of Rs. 82.3 lakh (Rs 8.23 million) on an operating revenue of Rs. 4.88 crore (Rs 48.8 million).
Not only did its operating revenue show a decline of 18.4 per cent, but it also incurred operating losses of Rs. 34.69 lakh (Rs 3.47 million).
Owing to higher outgo in terms of pay channel charges, total operating expenses also edged up 4.5 per cent to Rs. 4.51 crore (Rs 45.1 million). Apart from higher pay channel charges, increased interest burden in the fiscal third-quarter left a huge dent on the company’s bottom line.
Interest outgo nearly doubled to Rs. 1.27 crore (Rs 12.7 million) in the third quarter compared to Rs. 67.41 lakh (Rs 6.74 million) in the prior three months.
Sea TV raised Rs. 50.20 crore (Rs 502.0 million) through an initial public offering (IPO) and has so far utilised Rs. 50.14 crore (Rs 501.4 million). Sea TV has till now spent Rs. 32.66 crore (Rs 326.6 million) towards converting the analogue system of distribution to digital addressable system (DAS).
It incurred expenses of Rs. 15.55 crore (Rs 155.5 million) towards setting up its own cable distribution (underground optical fibre) network capable of digital transmission throughout the city of Agra and adjoining areas.
Read full Here
