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Balaji Telefilms Q2 bleeds in absence of films
MUMBAI: TV and films production company Balaji Telefilms Ltd incurred a net loss of Rs 7.58 crore (Rs 75.8 million) in the quarter ended 30 September 2014, as it did not have films to support its top line.
In the earlier-year period, the company had posted a net profit of Rs 12.32 crore (Rs 123.2 million) on the back of its film business, which had aggregated Rs 164 crore (Rs 1.64 billion) in its net revenue for the quarter.
Balaji Telefilms’ total income from operations stood at Rs 59.88 crore (Rs 598.8 million) in the three-month period ended 30 September 2014, down from Rs 194.62 crore (Rs 1.95 billion) recorded a year ago. Expenses were at Rs 71.55 crore (Rs 715.5 million), down from Rs 185.08 crore (Rs 1.85 billion).
Interestingly, revenues from commissioned programming saw an almost 64 per cent jump, as three of its shows were in the top 10 list during the quarter. Balaji’s top-rated shows include ‘Jodha Akbar’, ‘Kumkum Bhagya’ (Zee TV) and ‘Yeh Hain Mohobbatein (Star Plus).
Revenues from commissioned programming jumped to Rs 49.33 crore (Rs 493.3 million) vis-a-vis Rs 30.09 crore (Rs 300.86 million) in the year-ago period.
Profit from the commissioned segment also jumped 60.8 per cent to Rs 5.85 crore (Rs 58.5 million), compared to Rs 3.64 crore (Rs 36.4 million) in the year-ago period.
However, revenues from films business dropped to Rs 9.43 crore (Rs 94.27 million), compared to Rs 164.05 crore (Rs 1.64 billion).
The segment suffered loss of Rs 7.46 crore (Rs 74.56 million) as against a profit of Rs 11.81 crore (Rs 118.14 million) registered in the year-ago period.