Balaji Telefilms posts consolidated net loss of Rs 27.3 cr in Q3

MUMBAI: Balaji Telefilms has posted a consolidated net loss of Rs 27.3 crore for the quarter ended 31st December as against a net profit of Rs 24.8 crore in the corresponding quarter of the previous fiscal.

EBITDA loss for the quarter widened to Rs 26.2 crore compared to Rs 7.5 crore. Income from operations jumped to Rs 96.3 crore as against Rs 64.7 crore a year ago. Expenditure jumped to Rs 126.9 crore from Rs 76.4 crore in the previous fiscal.

The consolidated results include TV + movie and digital businesses. The standalone business includes only TV and movie production business.

On a standalone basis, the net profit for the quarter stood at Rs 12 crore compared to Rs 9.3 crore. EBITDA was up at Rs 13.2 crore from Rs 12.4 crore. Revenue from operations stood at Rs 111.5 crore compared to Rs 70.9 crore.

The standalone revenue comprised of Rs 103.8 crore from content production and Rs 7.7 crore from movies. The revenue from ALTBalaji stood at Rs 8 crore while 9M FY19 revenues was at Rs 28.1 crore.

The company said that the gross margins improvement driven by better operating efficiencies and cost control, with marginal top line growth. It further stated that the shows launched in Q1 FY19 have become margin accretive, after high impact initial episodes. On a yearly basis, average revenue per hour has improved from Rs 0.33 crore an hour to Rs 0.40 crore which is a 21% growth.

ALTBalaji’s subscriber base was at 13.1 million vs 8.9 million last reported. Monthly active users stood at 4.6 million vs 2.3 million. There was 1.5x growth in direct subscriptions in the last month on the back of targeted digital marketing campaigns.

The platform released six shows this quarter taking the total number of shows to 33 (currently). Apharan has done exceedingly well and is one of the most watched shows on the platform and also in the Top 5 to trigger subscriptions. ALTBalaji has a committed content pipeline at 60 shows.

Balaji’s shows had a 16% market share in Primetime Ratings. It has eight shows on four channels with three shows in the top 10 list.

Balaji Telefilms MD Shobha Kapoor said, “We are pleased to announce another strong performance this quarter, highlighted improving margins that has cemented our place as a leader in the Indian media industry. Our in-house content gives us the ability to create strong franchises, nurture new talent and ultimately give consumers the best possible entertainment choices, hence making it a value proposition for our investors and stakeholders.”

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