DQ Entertainment PLC Interim Results -6-
November 18 2013 - 2:00AM
UK Regulatory
The following is an analysis of the Company's revenue and
results by operating segment for the periods under review:
Segment Revenue Segment Result
------------------------------------------ ------------------------------------------
GROUP Six months Six months Year Six months Six months Year
ended ended ended ended ended ended
30 September 30 September 31 March 30 September 30 September 31 March
2013 2012 2013 2013 2012 2013
INR'Mn INR'Mn INR'Mn INR'Mn
INR'Mn INR'Mn
---------------------------- -------------- -------------- ---------- -------------- -------------- ----------
Animation Production 692 703 1,819 389 278 987
Distribution 178 251 475 76 140 120
Total 870 954 2,294 465 418 1,107
Unallocated Expenses (169) (319) (680)
----------
Profit before tax 296 99 427
Income tax expense (9) (28) (46)
-------------- -------------- ----------
Profit for the period/year 287 71 381
-------------- -------------- ----------
NOTE D - CASH AND CASH EQUIVALENTS
30 September 30 September 31 March
2013 2012 2013
INR'Mn INR'Mn INR'Mn
---------------------------------- ------------- ------------- ---------
Cash and bank balances 7 77 26
Call deposits 17 16 16
------------- ------------- ---------
Cash and bank balances 24 93 42
------------- ------------- ---------
Bank overdraft (892) (418) (666)
------------- ------------- ---------
Cash and cash equivalents in the
statement of cash flows (868) (325) (624)
------------- ------------- ---------
NOTE E - INTANGIBLE ASSETS
GROUP 30 September 2013 30 September 2012 31 March
INR'Mn INR'Mn 2013
INR'Mn
------------------------------------------------ ------------------ ------------------ ---------
Cost
Opening balance 4,254 3,720 3,720
Acquisitions/Transfer from
Assets under Construction/Recoupment 289 383 529
Disposals (65) - -
Translation adjustment 528 9 5
------------------ ------------------ ---------
Closing balance 5,006 4,112 4,254
------------------ ------------------ ---------
Amortisation
Opening balance 960 604 604
Amortisation expense 110 96 218
Impairment losses recognised in profit or loss - - 134
Impairment reversed on disposal (65) - -
Translation adjustment 32 - 4
------------------ ------------------ ---------
1,037 700 960
------------------ ------------------ ---------
Carrying amounts
------------------ ------------------ ---------
At beginning of period/year 3,294 3,116 3,116
------------------ ------------------ ---------
At end of period/year 3,969 3,412 3,294
------------------ ------------------ ---------
NOTE F - INTANGBILE ASSETS UNDER CONSTRUCTION
Intangible assets under construction include amounts paid to the
producers for acquisition of the distribution rights and amounts
incurred on internally generated intellectual property rights
pending for capitalisation. These advances are transferred to
distribution rights on completion of the entire production
activities and when the asset is ready for exploitation.
GROUP 30 September 2013 30 September 2012 31 March
INR'Mn INR'Mn 2013
INR'Mn
-------------------------------- ------------------ ------------------ ---------
Opening balance 1,230 751 751
Acquisitions 495 513 974
Transfers to intangible assets (123) (300) (475)
Translation adjustment 255 (204) (20)
------------------ ------------------ ---------
Closing balance 1,857 760 1,230
------------------ ------------------ ---------
NOTE G - INTEREST BEARING LOANS AND BORROWINGS
Interest bearing loans and borrowings comprise the
following:
GROUP 30 September 30 September 31 March
2013 2012 2013
INR'Mn INR'Mn INR'Mn
--------------------------------- ------------- ------------- ---------
Non-current liabilities:
Secured bank loans 869 551 719
Finance lease liabilities - 1 -
869 552 719
------------- ------------- ---------
Current liabilities:
Current portion of secured bank
loans 455 663 379
Finance lease liabilities 1 2 -
456 665 379
------------- ------------- ---------
NOTE H - PROVISION FOR RETAKES
GROUP 30 September 30 September 31 March
2013 2012 2013
INR'Mn INR'Mn INR'Mn
------------------------------------ ------------- ------------- ---------
Opening balance 21 28 28
Provisions made during the period/
year 9 9 17
Provisions used during the period/
year - - (1)
Provisions reversed during the
period/ year (10) (11) (23)
Closing balance 20 26 21
------------- ------------- ---------
Retakes include creative changes to the final product delivered
to the customer, performed on the specific request of the customer
at the Group's own cost. Requests for retakes will be accepted from
customers by the Group for a maximum period of three months from
the final delivery and hence the provision is not discounted.
NOTE I - PERSONNEL COSTS
Details of personnel expenses included in cost of sales,
administrative and distribution expenses
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