ALTBalaji’s subscription revenue rises to Rs 12.3 crore in Q1 FY20

The number of subscriptions sold goes up to 25.3 million in this quarter, compared to 21.3 million in Q4FY19

by exchange4media Staff
Published - Aug 12, 2019 1:18 PM Updated: Aug 12, 2019 1:18 PM
altBalaji

Balaji Telefilms Limited (BTL) owned OTT platform ALTBalaji has recorded a growth in subscription revenue at Rs 12.3 crore in Q1 FY20. The number stood at Rs 5.8 crore in Q1 FY19.  The number of subscriptions sold stood at 25.3 million in Q1FY20, as compared to 3.4 million in Q1FY19. The number stood at 21.3 million in Q4FY19.

However, ALTBalaji posted a net loss of Rs 39.2 crore during the quarter.

Coming to the financial performance of Balaji Telefilms Limited, the company recorded Q1 FY20 Revenues from Operations at Rs 82.9 crore vs Rs 133.7 crore in Q1 FY19. According to the company, the reduction in revenue was on account of no movie releases in the quarter. Q1 FY19 had the hugely successful Veere Di Wedding that earned Rs 51crore of revenue.

The consolidated net loss of the company for the period ending June 30 widened to Rs 42.2 crore from from Rs 27.0 crore in the same quarter of the previous fiscal.

Q1 FY20 EBITDA was recorded at Rs 10.6crore, compared to -0.9 cr in Q1 FY19. The improvement came on account of improved cost controls across new show launches.

BTL’s standalone profit (TV + Movie Production) was Rs 2.5crore, compared to -1.2 crore in Q1 FY19.

Commenting on the financial performance of the company, Shobha Kapoor, Managing Director, Balaji Telefilms Limited, said, “Operationally this was a good quarter with strong performance across all business and the two deals in our movie and digital business dramatically improves our financial profile going forward and will allow us to pursue our growth ambitions. I also take this opportunity to thank Sunil Lulla our Group CEO who has decided to pursue other opportunities after a brief period with us. Sunil leaves Balaji Telefilms in a very strong position for future growth and the rest of the leadership team will continue to drive the business forward.”

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