Balaji Telefilms TV revenue grew 48 per cent YoY to Rs 249
Shares of Balaji Telefilms climbed over 12 per cent in Wednesday’s trade after the company reported narrowing of losses for the December quarter. Losses for the quarter fell to Rs 2.6 crore compared with a loss of Rs 18.60 crore in September and Rs 26.40 crore loss in the the year-ago quarter. Total income doubled to Rs 165.40 crore compared with Rs 76.20 crore in the same quarter last year.
The stock rose 12.33 per cent to hit a high of Rs 48.25. With this, the scrip has recovered 23 per cent from its 52-week low of Rs 39.20 hit on February 6.
The company said its TV revenue grew 48 per cent YoY to Rs 249 crore in the first nine months of FY23 while Ebitda during the same period grew 167 per cent YoY. Ebitda margin, it said, expanded by 600 basis points.
TV segment’s realisation per hour stood at Rs 30.2 lakh for December quarter, which was 25 per cent higher than previous corresponding quarter i.e., Q3 FY22. Production hours for the current quarter stood at 282 hours, which was 11 per cent higher than previous corresponding quarter.
Ebitda losses for ALT Digital reduced by 60 per cent YoY in December quarter (down 33 epr cent QoQ). ALT Digital saw 8.7 lakh subscriptions in the first nine months of FY23. They included 4.6 lakh renewals. Subscription revenue for the nine months stood at approx Rs 15 crore.
“Multiple strategic collaborations at various stages of finalization expected to positively impact the forthcoming fiscal,” it said adding that it is investing in new shows to diversify and broaden content slate. Business Today