22 Sep 2017
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Balaji Telefilms Q1 consolidated net profit slumps

MUMBAI: Television and film production company Balaji Telefilms Ltd (BTL) has posted a consolidated net profit of Rs 2.09 crore (Rs 20.88 million) for the fiscal first quarter, registering an 80 per cent drop compared to Rs 10.56 crore (Rs 105.59 million) in the corresponding quarter of the previous fiscal.

Operating profit (EBITDA) was also down 66 per cent to Rs 4.97 crore (Rs 49.71 million), as against Rs 14.71 crore (Rs 147.15 million) in the year-ago period.

The company’s revenue from operations saw a 44 per cent decline to Rs 75.80 crore (Rs 758 million) from Rs 136.03 crore (Rs 1.36 billion).

However, on a standalone basis, the company has posted healthy numbers.

BTL’s net profit increased 62 per cent to Rs 4.51 crore (Rs 45.15 million), from Rs 1.96 crore (Rs 19.59 million) in the year-ago period.

EBITDA increased 88 per cent to Rs 7.14 crore (Rs 71.4 million) from Rs 3.8 crore (Rs 37.99 million).

Total standalone revenue for the quarter under review grew 57 per cent to Rs 69.38 crore (Rs 693.78 million), compared to Rs 44.18 crore (Rs 441.85 million).

Average realisation per hour from TV show production saw a 7.4 per cent increase to Rs 21.94 lakh (Rs 2.19 million) from Rs 20.42 lakh (Rs 2.04 million).

The number of commissioned Hindi programming hours during the quarter increased to 240.5 hours, compared to 208 hours in the same quarter of the previous fiscal.

The company, which produced reality show ‘Nach Baliye’ for Star Plus during the quarter, said that the margins had improved as the current fiction shows stabilised during the quarter.

Motion pictures

Balaji Motion Pictures Ltd (BMPL), the motion pictures arm of the company, posted a net loss of Rs 2.29 crore (Rs 22.9 million), compared to a net profit of Rs 8.84 crore (Rs 88.4 million) in the corresponding fiscal of the previous quarter.

It posted EBITDA loss of Rs 2.25 crore (Rs 22.5 million), compared to an operating profit of Rs 11.16 crore (Rs 111.6 million).

Total revenue from the segment fell to Rs 1.04 crore (Rs 10.4 million), compared to Rs 89.34 crore (Rs 893.4 million).

The last year’s financials of BMPL had included strong box-office performance of ‘Ek Villain’. In the quarter under review, it was working on the pipeline with various projects in pre- and post-production stages.

Subsidiaries

Bolt Media Ltd, a subsidiary set up to independently create and produce cutting-edge TV concepts across mainstream and regional television, posted an operating and net loss of Rs 30 lakh (Rs 3 million), compared to Rs 25 lakh (Rs 2.5 million) in the earlier-year period.

Revenue from Bolt stood at Rs 53 lakh (Rs 5.3 million), as against Rs 2.5 crore (Rs 25 million) in the year-ago period.

Marinating Films Pvt Ltd

The company had acquired 51 per cent of Marinating Films Pvt Ltd (MFPL) in the third quarter of the previous fiscal. MFPL’s net profit was at Rs 6 lakh (Rs 0.6 million), while revenue and EBITDA stood at Rs 2.86 crore (Rs 28.6 million) and Rs 9 lakh (Rs 0.9 million), respectively.

During the quarter, MFPL licensed the Box Cricket League (BCL) format for regional broadcasting to Punjab-based Zam Media and produced a fitness DVD with Sunny Leone for Times Wellness.

Event Media LLP

Net profit from Event Media was at Rs 11 lakh (Rs 1.1 million), while revenue and EBITDA were at Rs 1.75 crore (Rs 17.5 million) and Rs 28 lakh (Rs 2.8 million), respectively.

Event Media LLP aired a ‘Mother’s Day’ special event on Star Plus.