BAG Films' TV broadcasting reports operating profit of Rs 87.8 mn in Q2

MUMBAI: BAG Films? television broadcasting business has turned profitable on a more than 100 per cent rise in revenues from a year earlier. In the second quarter ended 30 September, the company?s broadcasting business made an operating profit of Rs 87.8 million against operating loss of Rs 18.67 million a year earlier.

The company, which runs News 24 and E24 channels, saw its revenue from television broadcasting rise to Rs 251.3 million from Rs 124.5 million a year earlier.

The company?s television broadcasting business had reported operational loss of Rs 66.19 million in the first quarter ended 30 June. For the first six months of this year, it had an operational profit of Rs 21.60 million against operational loss of Rs 31.38 million a year earlier.

BAG?s operating profit from radio business fell 90 per cent to Rs 1.25 million in the second quarter from Rs 13.14 million a year ago as revenue stayed flat at Rs 18.1 million against Rs 18.3 million a year earlier.

Its audio-visual production business also turned operationally profitable with a profit of Rs 20.68 million against operational loss of Rs 20.7 million a year earlier. Its revenue from the production business jumped three fold to Rs 89.9 million in the second quarter from Rs 29 million a year earlier.

On a consolidated basis, BAG Films? reported a net profit of Rs 56.18 million in the second quarter against a loss of Rs 66.53 million a year earlier. Its revenues from operations almost doubled to Rs 361.3 million from Rs 171.9 million a year earlier. The company?s total expenses were up about 14 per cent to Rs 336.4 million in the second quarter from Rs 295.8 million a year earlier.