Balaji Telefilms Ltd has reported a 7.4 per cent dip in its Q3 FY12 net profit at Rs 1.12 crore from Rs 1.21 crore in Q3. Income from operations also reduced by 15 per cent from Rs 39.04 crore to Rs 33.02 crore.
In the present quarter, the company has reported an operating loss of Rs 1.88 crore for the third quarter ended December 31, 2012 as against an operating loss of Rs 43 lakh in Q3 last fiscal on account of reduction in turnover and loss from sponsored programme segment.
During the current quarter, on December 29, 2011, the company entered into binding business transfer agreements to sell its Mobile and Education division for a consolidated sum of Rs 8.37 crore, based on fair value determined by an independent firm of chartered accountants. The transactions would be effective on receipt of the full consideration within a period not exceeding a period of 90 days from the date of the agreement. The transactions would be reflected accordingly in the books of accounts on the effective date.
The Management of the Company has decided to retain the internet division within the company. Pursuant to this, the net profit after tax for the quarter ended December 31, 2011, that is, Rs 1.12 crore would be split into two:
• Net profit after tax from Continuing Operations Rs 1.46 crore;
• Net loss after tax from Discontinuing Operations Rs 34 lakh