Balaji Telefilms' Q3 revenue down 28% to Rs 76.2 crore
ALTBalaji's revenue fell 38% to Rs 12.5 crore from Rs 20.1 crore
Balaji Telefilms' income from operations has declined 28% to Rs 76.2 crore for the quarter ended 31st December as against Rs 105.5 crore in the corresponding quarter last year. Expenses too fell 25% to Rs 97.6 crore from Rs 129.5 crore.
The media company's net loss dropped 17% to Rs 26.4 crore from Rs 31.7 crore. Operating loss for the quarter was down 11.25% at Rs 21.3 crore from Rs 24 crore.
Balaji's income from TV + movie production business nosedived 43.4% to Rs 63.5 crore from Rs 112.2 crore. EBITDA from the TV + movie production business declined 30% to Rs 10.1 crore from Rs 14.5 crore. The segment reported net profit of Rs 5.4 crore which is a 30% increase over Rs 7.7 crore in the year ago period.
ALTBalaji's revenue fell 38% to Rs 12.5 crore from Rs 20.1 crore. ALTBalaji's EBITDA loss was down 17% to Rs 30.5 crore from Rs 36.8 crore. Net loss stood at Rs 30.7 crore, a decrease of 17.47% over Rs 37.2 crore.
Balaji stated that ALTBalaji sold 3.48 million subscriptions for 9MFY22 with direct subscription revenues increasing to Rs 45 crore compared to Rs 36 crore. The platform added 11 shows in the nine months, taking the overall library to 89+ shows.
The company noted that TV business returned to normal in 9M with 618 hours of production across seven shows and strong pipeline for the year. It added that the realisation rates remain low given broadcast uncertainties.
In Q3, the company had seven shows on-air with more number of six-day shows and 1-hour episode, resulting in increase in telecast hours. The shows were 'Kumkum Bhagya', 'Kundali Bhagya', 'Bhagya Lakshmi' on Zee TV, 'Yeh Hai Chhatein' on Star Plus, 'Molkki' on Colors TV and 'Bade Acche Lagte Hain 2' on Sony Entertainment Television (SET) and 'Kkusum' on Sony Marathi.
The company stated that three new shows have been lined up including one replacement and two new shows. TV business, the company added, returned to more normal production with 618 hours content produced in the nine-month period.
Hourly realisations remain muted at Rs 26 lakhs per hour and expected to remain soft as broadcasters continue to assess Covid 19 impact.
Balaji said its current movie pipeline include five exciting projects with tightly controlled investments across movies. The company continues to monitor shooting schedules and availability of theatrical windows. The company said it is open to various monetization opportunities for existing and future projects including direct to digital launches.
Providing an update on the progress made by the films, Balaji said the shoot for Villain 2 directed by Mohit Suri and staring John Abraham and Goodbye directed by Vikas Behl and staring Mr Amitabh Bachchan is nearing completion.
The shoot for Dobaaraa directed by Anurag Kashyap and starring Taapsee Pannu, U Turn starring Alaya F, remake of hit Kannada movie, and Freddy with Kartik Aaryan, have been completed and are now under post production.
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