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Friday, 08 November 2019 05:19

MM TV witnesses heavy losses in FY19

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Malayala Manorama’s broadcasting vertical MM TV Limited (MML) has posted a net loss of Rs 5.84 crore in FY19 as against a net profit of Rs 3.58 crore in FY18. Also, its total operating income fell by around 9% YoY to Rs 127.65 crore from Rs 140.2 crore due to a decline in the ad revenue. The floods that hit Kerala in the months of July-August 2018 had impacted the advertisement revenue of the company during the Onam season which is the peak season for the company.

The channel’s profit before interest lease depreciation and tax (PBILDT) dropped to Rs 20.15 crore as against Rs 37.06 crore a year ago. The PBILDT margin of the company also declined from 26.42% in FY18 to 15.72% in FY19 mainly on account of increase in employee cost and promotional/donation expense compared to the previous year without any growth in revenue.

It registered an operating income of Rs. 71 crore and PBILDT margin of around 20% till H1FY20.

MML is a subsidiary of The Malayala Manorama Company Limited (TMMC), Kottayam, which has been operational for over a century and the group has a presence in all forms of media including print, television, radio, online portals and events. The management team of MML is well experienced in the Malayalam television sector with many of them having worked with leading Malayalam television groups for over two decades.

MML owns two channels compared to other competitors having multiple channels catering to various niche customer preferences including movies, music, etc. Furthermore, the total income of MML is highly dependent on a single channel with, Mazhavil contributing about 70% of the total income. Also, MML is present only within the Malayalam television industry and is concentrated within the state of Kerala.

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