Vivid: In defence of the Defence Minister

It would be wrong to squarely blame AK Antony for the state of affairs in India's defence forces, says exchange4media's Annurag Batra, adding that it is more to do with red-tapism within the system

e4m by Annurag Batra
Published: Mar 4, 2014 7:50 AM  | 6 min read
Vivid: In defence of the Defence Minister

Once again, political foes and media alike are demanding the resignation of Defence Minister AK Antony – this time, a fallout of the INS Sindhuratna accident. This is despite the fact that all through his career – amongst his political detractors as well as journalists – Antony has been much respected and admired for his squeaky clean and transparent image.

One wonders – given his character in a political arena where almost every transaction or position comes under the scanner for some corruption or the other – if indeed Antony should resign. Are we ready, as a country, to unseat a man known to be one of the few torchbearers of honesty and integrity in our Government?

Who and how Antony will be replaced, should he step down, is another matter. One is forced to question many issues related to him to get a clearer picture of this calm, composed and absolutely straight Union Defence Minister.

Antony has been blamed for having been involved in a long battle of ideology and words with former Army Chief VK Singh. But the fact remains that the former General was made of different stuff, perhaps the first one in the history of Independent India’s Army who questioned the Government on several accounts, often embarrassingly in public, which did nothing more than expose the cracks between the Government and its Army. Even senior officers in the Army admit that the rebel streak in Singh is not a good sign for a democratic country.

Then, of course, there was the so-called ‘coup’ attempt during Singh’s tenure. According to reports, during the time when VK Singh was the Army Chief, the then Director General of Military Operations (DGMO) had claimed that a panicked Defence Secretary had summoned him to know about the movement of troops on the day Singh approached the Supreme Court and asked that the troops be sent back, sparking rumours of a ‘coup attempt’. “There was a misconception or there was difference in perception or there may be distrust,” Lt General (Retd) AK Choudhary, the then DGMO had reportedly told media.

The question now is whether the media is right in highlighting the trust deficit between the Armed Forces and the Executive, or probing the whole incident deeper. Does it not indicate that the Army had lost the confidence of its Government and there was something gravely amiss? After all, who wields the gun?

Then there were the cancellation of various defence deals, the alleged bribery case against a former Air Chief in the VVIP chopper scam, and the Tatra Trucks sandal. Should one blame the Defence Ministry or acknowledge the attempts of the Defence Minister to stop a long-drawn practice of corruption within the defence structure of the country? Shouldn’t he be given the credit for at least attempting to make the Armed Forces more transparent and cleanse the system?

It’s a known fact within the halls of journalism that scandals don’t break out unless there is someone within the system who is ready to play the whistle-blower, many a time, anonymously. That the numerous exposes within the defence machinery surfaced during Antony’s tenure is proof of the fact that his ‘clean’ image did nudge the moral sense of many to actually make misdeeds public in order to put a stop to them. And, the fact that it was Antony who censured or barred many defence firms from taking the corrupt route to arm India cannot be taken away from him. He has been tough, blacklisting more than half a dozen international defence companies for allegedly taking the middlemen route to India’s arsenal.

There is a theory that instead of merely blacklisting the firms, Antony should have also sparked indigenisation. But then, as a former Major General who refused to be named scoffs, “As if that is a cleaner route! Who says indigenisation is free of corruption? Look at the smallest contract in the Army and you will know. We must remember, this is the country where shady deals happen even over the body bags and coffins to bring the dead soldiers home.”

One wonders, why every time there is an attack on an Indian Army patrol at the Line of Control (LoC) or a scam like the AgustaWestland choppers breaks out or an incident like the INS Sindhuratna accident occurs, there’s a clamour for Antony’s head? There was never such a din for a minister’s resignation when the enemy had occupied forward bunkers in 1999, while the Northern Command Army Chief was tending to his animal farm! How is Antony to be blamed if the Armed Forces of the country are equipped with outdated and rusting weapons, because some minister before his time had allowed all-out corruption and undercutting in its hardware purchases?

It is pertinent to note that the Armed Forces have not had much-needed weapons and equipment upgrade for some time now, that the Indian Air Force’s bid to buy 126 multi-role combat aircraft has still not seen the light of day, and the Indian Navy’s submarine fleet is more than 25 years old, even as the ill-equipped Coast Guard has to borrow ships from the Navy to guard India’s coastal line. This is more to do with red-tapism within the system rather than a minister himself.

Former Uttarakhand Chief Minister and BJP leader, Maj Gen (Retd) BC Khanduri, admitted as much during a CNN-IBN panel discussion, “The way the defence services are run in the country has been suicidal. The bureaucracy has all the powers. There is absolute lack of confidence between the two. There is a sickening arrogance on the part of the bureaucracy. The system should be pro-nation and not pro-bureaucracy. The bureaucracy who sits in the driver’s seat is without accountability, but arrogance. We must get out of this civil-military syndrome and think of national interest.”

Khanduri spoke about an inherent flaw in the system, which even a man with such high integrity as Antony is unable to eradicate. In a sense, he is more of a victim of the system himself.

The Indian media also must own up its responsibility in the all-round confusion and disparity plaguing the Armed Forces today. After all, it is the Fourth Estate and the onus falls on it to hammer the warnings against the wrongdoings and mismanagement within the Armed Forces before it’s too late. One minister, howsoever clean and transparent he may be, cannot take the blame alone.

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HT Media posts Consolidated Total Revenue of Rs 580 crore in Q2

Chairperson and Editorial Director Shobhana Bhartia says due to lower commodity prices and control on costs there has been an improvement in operating profit

e4m by exchange4media Staff
Published: Nov 5, 2019 7:28 AM  | 1 min read
HT Media

HT Media has posted a Consolidated Total Revenue for Q2, 2020 at Rs 580 crore.

As per a statement released by the company, EBITDA for Q2’20 increased by 139%, and margins at 14% vis-à-vis 6% in previous year. This has been driven by softening of newsprint prices and continued focus on cost.

The Net Cash position at a consolidated level continues to be strong.

The Print ad revenue has declined due to sluggish volumes, even as yields have improved. National advertising continues to be soft, although local advertising witnessed growth.

Savings in raw material costs have driven improvement in EBITDA margins.

Chairperson and Editorial Director Shobhana Bhartia said, “Slowing economic growth has hit advertising spends in key categories, putting pressure on revenues across the media industry. As a result, our Print and Radio (on like to like basis) businesses saw revenues dip as compared to a year-ago. However, thanks to lower commodity prices and a tight control on costs, we saw an improvement in our operating profit. On the digital front, Shine, our online recruitment portal has shown good progress and continues to grow. Our outlook for the coming quarter remains cautious, given overall economic sentiment and macroeconomic trends. Cost-control and falling commodity prices should help protect our margins.”

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ABP Group posts Rs 15.70 crore as net profit in Q1 FY20

The group’s total operating income stands at Rs 365.55 crore

e4m by exchange4media Staff
Published: Nov 4, 2019 5:41 PM  | 1 min read
ABP

ABP Group has posted a net profit of Rs 15.70 crore in the first quarter of FY20, as per media reports.

The group’s total operating income stands at Rs 365.55 crore.

It’s net profit for the fiscal ended March 31, 2019, was down 68% to Rs 31.90 crore compared to the previous fiscal.

The Profit Before Interest Lease Depreciation and Tax (PBILDT) has also dropped 53.52% to Rs 107.12 crore.

The group has six news channels - ABP News (Hindi), ABP Ananda (Bengali) ABP Majha (Marathi) and ABP Asmita (Gujarati), ABP Sanjha (Punjabi) and ABP Ganga (Hindi).

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Zee Media posts consolidated revenue of Rs 137.03 crore for Q2 FY20

ZMCL has recorded 4.4% growth in operating revenue for first half of FY20

e4m by exchange4media Staff
Published: Oct 24, 2019 9:19 AM  | 1 min read
ZMCL

Zee Media Corporation Ltd (ZMCL) has posted a 4.4 per cent growth in operating revenue to Rs 337.6 crore in the first half of FY20, as per media reports.

It has reported a consolidated revenue of Rs 137.03 crore for Q2 FY20.

In a statement, ZMCL has said: “During the quarter, the network expanded its footprint s into Southern India through the launch of Zee Hindustan in Tamil and Telugu languages. This is intended to make the network's content accessible to wider audience.”

The operating expenditure in Q2FY20 has dropped by 21.7 per cent.

The statement further said: “EBITDA for HlFY20 improved by 34.1 per cent to Rs 1,029 million from Rs 767.5 million EBITDA for H1FY19, while the same declined by 9.4 per cent to Rs 370.2 million from Rs 408.7 million for the corresponding period last financial year. EBITDA Margin grew from 23.7 per cent in H1FY19 to 30.5 per cent in HlFY20, while growing from 24.2 per cent in Q2FY19 to 27 per cent in Q2FY20.”

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No slowdown here: In-cinema ad rates up by at least 50% for 3 big Diwali releases

Housefull 4, Made In China and Saand Ki Aankh ready to hit the silver screen this week, with the hopes of giving brands the eyeballs they look for in theatres

e4m by Moumita Bhattacharjee
Published: Oct 24, 2019 8:41 AM  | 4 min read
DiwaliFilms

It’s that time of the year again when theatres gear up to pocket maximum gains. Diwali is here and there are three films ready to hit the silver screen this week--Housefull 4, Made In China and Saand Ki Aankh. The festive period brings much joy to exhibitors, distributors and theatre owners because it ensures footfalls, giving brands the eyeballs they look for. In fact, industry experts don’t feel that economic slowdown this year has impacted in-cinema advertising. While they are concerned about three movies clashing during Diwali, they predict 50-100 per cent rise in ad rates during this period. 

Advertising moolah

Mohan Umrotkar, CEO, Carnival Cinemas, is expecting 60-70 per cent surge in advertisement topline compared to last year. “Going by the buzz and advance booking for these three releases, market is bullish. Advertisers have blocked most of the advt-slots during the festival period. Housefull 4, Made In China and Saand Ki Aankh all combined together should generate around Rs 350 crore topline at the box office during the festival week. We are expecting 60-70 per cent surge in the advertisement topline from last year. Also, this year we have added around 14 per cent new advertisers, and 4 per cent of them are first-time cinema advertisers,” he says.

But according to Siddharth Bhardwaj, Chief Marketing Officer - Head of Enterprise Sales, UFO Moviez, things have changed a lot in the last couple of years. “Since some films have not really lived up to their expectation, advertisers are spreading the spends all through the year. They are picking up far more number of titles in the year rather than focusing only on Diwali or Eid.”

“It is good for the industry because you can monetise the inventories beyond just big weeks. A lot of content- driven films have come up which has given us the opportunity to monetise more markets. It has put lesser pressure on Diwali. Most of the cinemas are sold out for Diwali. It becomes difficult to accommodate everything,” Bharadwaj opines. He also reveals that for this week, the inventories are already full.

Diwali ad rates

Experts reveal that ad rates differ from property to property and depends on location as well. But Diwali surely sees a massive hike in rates. This year, theatre owners are expecting 100 per cent rise in ad rates. While Umrotkar revealed that for Diwali, they are charging 100 per cent higher than the regular card rates, Girish Johar, trade analyst and film producer, shared that even the rates for putting up kiosks of brands go up during festivals like Diwali.

“It’s based on property. On a ballpark, ad rates double up. So if you are putting up a kiosk, they charge say Rs 50,000-25,000 for a month. During Diwali, they charge almost double because of the kind of footfalls theatres witness,” Johar revealed.

Economic slowdown? Not for Cinema!

This year, brands have been pulling back their spends on other mediums due to economic slowdown, but cinema seems unaffected. Calling entertainment business recession-proof, Johar explains, “If you see the other side, box office is up by 15-20 per cent. Yes, it is a bit subdued because the brands are in a wait-and- watch scenario. They are increasing their focus around consumption rather than awareness.”

Bharadwaj too seconded it by saying, “These are challenging times but our medium is very efficient. If you see economy has slowed down, but the cinema has grown instead.”

Clash cover

Three movies are clashing this Diwali which means shared screens and box office gains.

“It’s never good for us when two or more big-ticket films release together. If they would have come on different dates, there are chances that more advertisers will take advt. inventory in those weeks separately instead of that one particular week,” shares Umrotkar.

 

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INOX Leisure Ltd sees 42% growth in total revenue

Profit After Tax up 327% to Rs 51 crore

e4m by exchange4media Staff
Published: Oct 23, 2019 6:06 PM  | 1 min read
INOX

INOX Leisure Ltd (INOX) has reported financials for the second quarter ending September 2019.

Its total revenue has risen to Rs 524 crore with a 42% growth from Rs 369 crore in the corresponding quarter in FY19. Its EBITDA has more than doubled to Rs 107 crore with a 121% growth, while the PAT stood at an impressive Rs 51 crore, up 327% from previous year’s second quarter.

Siddharth Jain, Director, INOX Group, said: “At INOX, setting new benchmarks is now a routine, thanks to our consistently sharp focus on luxury, service and technology and our uncompromised desire to offer our patrons, nothing but the latest and the best! We are delighted with our remarkable consistency on all parameters, and we are sure about maintaining the momentum and focus on innovativeness. Content once again proved that why we term it as the ‘hero’. Thanks to the creators of such spellbinding movies, which keep inviting our guests to our properties, and allowing us to pamper them with our signature hospitality. With the launch of Megaplex, we are delighted to further our endeavor of developing experience-driven cinema destinations of global standards, and we will continue to do so. On behalf of Team INOX, I assure all our stakeholders that we will continue to break barriers and exceed all expectations.”

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Hathway Cable & Datacom reports 100% subscription collection efficiency in Q2

The broadband subscriber base has increased from the previous quarter’s 840,000 to 860,000

e4m by exchange4media Staff
Published: Oct 18, 2019 11:17 AM  | 1 min read
Hathway

Hathway Cable and Datacom has reported subscription collection efficiency at 100%, and the broadband subscriber base has increased from previous quarter’s 840,000 to 860,000 in quarter ending September, as per media reports.

It has narrowed its consolidated net loss by 74% and the operating EBITDA has been reported 15% up to Rs 107.5 crore compared to Rs 93.1 crore a quarter ago.

The total income has dropped 2%, while the expenditure is down 6%.

In the financial results, the company has said the FTTH markets are leading growth in customer acquisition.

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ZEEL posts 7.4% YoY growth in total revenue for Q2 FY20

ZEEL's domestic advertising revenue has grown 1.4% YoY in Q2FY20

e4m by exchange4media Staff
Published: Oct 18, 2019 7:51 AM  | 2 min read
ZEEL

Zee Entertainment Enterprises Limited (ZEEL) has reported a consolidated revenue of Rs 2,122 crore for the second quarter of FY20, recording a growth of 7.4% on YoY basis.

The Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) was recorded as Rs 692.9 crore with an EBITDA margin of 32.7%. PAT for the quarter was Rs 413.2 crore. The Profit After Tax (PAT) for the quarter was Rs 413.2 million, with a growth of 6.9% YoY.

During the second quarter, ZEEL’s consolidated advertising revenue grew by 1.2% YoY to Rs 1,224.7 crore. The domestic advertising revenues grew by 1.4% YoY to Rs 1169 crore.

ZEEL has posted 26.8% YoY growth in Q2FY20 domestic subscription revenue. ZEEL’s consolidated subscription revenue grew by 19.0% to Rs 723.5 crore during the quarter.

ZEEL’s total expenditure in Q2FY20 stood at Rs 1429.1 crore, higher by 9.9% YoY compared to Q2FY19.

While ZEE5 recorded a peak DAU (Daily Active User) base of 8.9 million in September 2019, ZEE5 users watched an average of 120 minutes of content on the platform in the same month.
During Q2 FY20, the television network had an all-India viewership share of 18.4%.

During the quarter, ZEEL’s international business revenue was Rs 208.2 crore. The advertising and subscription revenues for international business declined by 4.0% YoY and 21.5% YoY, respectively.

Zee Music Company has registered 7.1 billion views on YouTube in Q2.

Punit Goenka, Managing Director and CEO, ZEEL, said, “I am pleased with the performance we have exhibited during the quarter. Our entertainment portfolio continues to grow from strength to strength across all formats and maintained its leading position. Our television network has emerged stronger post the implementation of tariff order on the back of a strong customer connect and brand pull of its channels. ZEE5 continued to gain traction across audience segments and markets, driven by its compelling content library and expanding list of partnerships across the digital eco-system. This strong operating performance allowed us to deliver industry leading growth in both advertising and subscription despite the tough macro-economic environment. Domestic subscription growth of 27% has reaffirmed the value proposition our television network has built over the years. The impact of tariff order has now largely settled down and has brought increased transparency along with improved monetization. Our domestic advertising revenue growth, though significantly lower than historical trend, is higher than the industry growth. We have witnessed an improvement in ad spends through the quarter and we believe that the onset of festive season along with measures taken by the government will help revive the consumption growth.”

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