Balaji Telefilms Declares Q3 Results: Check Performance Update

For the third quarter and nine months ending December 31, 2023, financial figures for Balaji Telefilms Limited have been released. The firm recorded an 8.5% growth in revenue from operations to Rs 490 crores in 9M FY24 compared to Rs 448.3 crores in 9M FY23, per an exchange filing.

However, the company's revenue from operations for the third quarter was Rs 138.3 crore, down from Rs 165.4 crore in the same period last year. Compared to Rs (30.6) crore in 9M FY23, the company's EBITDA jumped by 243% to Rs 43.7 crore in 9M FY24. In Q3FY24, its EBITDA was Rs 4.20 Cr, down from Rs 4.6 Cr in Q3FY23.

The firm claimed that its net profit for the nine months of FY24 was Rs 22.0 crore, while its PAT for the nine months of FY23 was Rs 45.7 Cr. In Q3FY24, the company recorded a net loss of Rs. 0.20 Cr, whereas in Q3FY23, it reported a loss of Rs. 2.6 Cr.

A Rs 214 crore fundraising was approved by the Board during the quarter through the preferential issuing of warrants convertible into equity shares to the Foreign Portfolio Investors and the Promoter Group, which is led by Ms. Ektaa R. Kapoor. This is intended to support the group's expansion and improve intellectual property creation, subject to regulatory clearances and shareholder agreement.

"The Board also approved the amalgamation of ALT Digital and Marinating Films with its parent company, Balaji Telefilms Limited, pending regulatory consents. A detailed scheme and plan will be reviewed in a separate board meeting before submission to the Stock Exchanges. This strategic move aims to enhance operational efficiency, reduce costs, and improve returns by consolidating operations and leveraging synergies within the holding company structure," said Balaji Telefilms in a statement.

Mrs. Shobha Kapoor, Managing Director, Balaji Telefilms Limited said, "Our continued focus on improving profitability, streamlining operations and cost-rationalization has yielded results with the Group level profitability significantly improving day by day. We ended the first nine months with 6 TV shows on-air across leading channels. We had 2 theatrical release 'Dream Girl 2" and 'Thank you for Coming'. We received over warming response for 'Dream Girl 2" as it went on to generate more than 100 crores worldwide at box office. We have 2 movies in post-production and hope that these movies resonate well with our audience's preference and taste. We are confident that our pipeline for the year ahead across Movies, TV and Digital will enable us to continue our growth trajectory in the entertainment domain and ensure a thriving and sustainable business."