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Balaji Telefilms to be cautious in movie production biz

MUMBAI: Balaji Telefilms did not release any movie during the quarter and continues to be very selective with its movie pipeline.

The post production work is on for two movies – ‘Half Girlfriend’, a mid-budget Hindi film, and ‘Super Singh’, a Punjabi regional film. Both are expected to release in the first half of FY18.

The company’s total amount invested in movies that are under production stood at Rs 50.3 crore as of 31 December 2016.

Balaji Motion Pictures Ltd (BMPL) will selectively commission new movies going forward that have an extremely favourable risk reward profile, the company said.

Movies BUsiness - BMPL Financial Performance

The process is underway to merge Bolt Media and film production business of BMPL. The company has received observation letter from the Stock exchanges. The merger is expected to complete in the first quarter of FY18.

BOLT is in a similar line of business. Both BMPL and BOLT are wholly owned subsidiaries of Balaji Telefilms Ltd.

Consolidated Q3 performance

Meanwhile, Balaji Telefilms Ltd has reported a consolidated net loss of Rs 1.86 crore in the fiscal third quarter compared to a profit of Rs 4.27 crore a year ago.

EBITDA stood at Rs 2.83 crore versus Rs 12.39 crore in the earlier year.

Total income from operations stood at Rs 103.36 crore, up from Rs 78.65 crore a year ago. For the first nine months of the current fiscal, revenue grew to Rs 326.7 crore versus Rs 209.5 crore a year ago. While there were four movie releases in the current fiscal, there were no films in the first nine months of the previous fiscal.

BTL Consolidated Financial Performance Q3 fy17

Standalone Q3 performance

On a standalone basis, Balaji Telefilms has reported net profit of Rs 8.05 crore in the quarter ended 31 December compared to Rs 18.29 crore a year ago.

EBITDA stood at Rs 10.39 crore from Rs 17.91 crore. For the first nine months of the current fiscal, EBITDA was down at Rs 20.8 crore compared to Rs 34.1 crore a year ago. The first nine months of FY16 had higher margin shows such as ‘Nach Baliye’ and ‘Jodha Akbar’.

Total income from operations at a standalone level was Rs 83.9 crore versus Rs 77.15 crore a year ago. In the preceding quarter, total income from operations stood at Rs 61.6 crore. The increase in revenue was led by increase in hours of programming coupled with newer shows at higher realisations.

BTL Standalone Financial

The content company had a total of 10 shows running on air during the quarter ended 31 December spread across the GEC broadcasters. The newly launched shows such as ‘Naagin 2’ and ‘Chandra Nandni’ are faring well.

Television Business Operating KPIs

Movie biz under BMPL

In the movie business under BMPL, the company narrowed its net loss in the quarter ended 31 December to Rs 5.1 crore from a loss of Rs 30.5 crore in the preceding quarter.

Operating loss stood at Rs 1.7 crore versus a loss of Rs 28 crore in Q2 of FY17.

Revenue was down at Rs 19.2 crore versus Rs 43.2 crore in the trailing quarter.

BTL COnsolidated Financial -Q3 FY17

Balaji Telefilms said it has won rights to develop and telecast programming on primetime (8 pm to 930 pm weekdays) for pubcaster Doordarshan. These shows are expected to commence in the first quarter of FY18.