Balaji Telefilms Ltd announced its unaudited financial results on January 15, 2010. The company has posted an operating loss of Rs 29.06 million for the third quarter ended December 31, 2009 mainly due to increase in production and administrative efficiency. The operating loss for the quarter reduced by 37 per cent as compared to Q2 FY10, where it had reported an operating loss of Rs 46.47 million.
Meanwhile, income from operations dipped 4 per cent from Rs 406.83 million in the previous quarter to Rs 389.72 millio in Q3 FY10.
Profit before tax decreased from Rs 6.72 million during the previous quarter to Rs 1.3 million in Q3 due to fall in other income by 75 per cent.
In a prepared statement, Puneet Kinra, Group CEO, Balaji Telefilms Ltdm said, “We have now turned profitable at the operating level for the month of December. Our aim is to maintain leadership in TV production, while adding value to the company with the launch of several exciting initiatives.”
Outlook for the next quarter
The company is looking to boost its performance and is increasing its presence in the entertainment sector with the launch of their new motion pictures division Alt Entertainment and the digital division New Media. The New Media Division has launched ‘hoonur.com’, which is an online talent platform that gives independent professionals, businesses from film, television and media related industries an opportunity to show their talent. There would be one film release, ‘Love, Sex aur Dhoka’, directed by Dibakar Bannerjee, which is to be released under Alt Entertainment.