September 2014 quarter results

For the quarter ended September 2014, sales jumped 22% to Rs 111.69 crore. OPM crashed 580 basis points to 21.1% which saw OP falling 4% to Rs 23.54 crore.

Other income grew 105% to Rs 4.75 crore and interest cost went down 51% to Rs 43 lakh. As depreciation rose 18% to Rs 7.61 crore, PBT grew 3% to Rs 20.24 crore.

Tax went up 4% to Rs 13.21 crore after which PAT ended up 3% to Rs 13.21 crore.

Six months results

For the six months ended September 2014, sales jumped 38% to Rs 248.70 crore. OPM improved 480 basis points to 31.7% which saw OP growing 62% to Rs 78.85 crore.

Other income grew 89% to Rs 7.48 crore and interest cost went down 49% to Rs 98 lakh. As depreciation rose 19% to Rs 15.22 crore, PBT grew 85% to Rs 70.13 crore.

Tax went up 85% to Rs 24.13 crore after which PAT ended up 85% to Rs 46.00 crore.

Other details

During the quarter ended June 2014 the company acquired digital rights of its news channel from its holding company, Living Media India Limited, for Rs 36.75 crore. Such consideration has been recognized as an intangible asset to be amortized over aperiod of 10 years.

The company has made strategic investment of Rs 45.52 crore in Mail Today Newspapers Pvt Ltd for entering into print media. Though Mail Today is in the initial stage of operations and is presently incurring losses, the company is confident of its future profitability and consequently of the carrying value of the investment.

Valuation

The share price trades at Rs 249.