Balaji Telefilms Limited, has announced its financial results for the first quarter ended on 30th June 2019, the results shows that TV content production business continues to dominate the ratings and account for 18% of the Primetime ratings. Balaji Telefilms had 8 shows on air during the quarter and 5 of these shows were slot leaders.
We successfully sold all rights related to our upcoming movies for the year thereby ensuring a record profitable performance in the movie business.
ALTBalaji continues to push the boundary on original exclusive digital content and during the quarter we announced a content alliance with Zee5 to produce 60+ originals to develop and grow the subscription video on demand business.
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”
OPERATIONAL HIGHLIGHTS
- TV Business contributes 18% of Prime Time Rating1 – more than production house 2 and 3 combined. Improvement from 16% in Q4 FY19
- Current slate of 4 movies for the year pre-sold for over Rs 100 cr, assuring strong profitability for the year
- ALTBalaji signs exclusive content alliance with Zee5 to drive Subscription Video on Demand and create 60+ originals
- Alliance helps secure revenue, move into an all paid service vs a free service and help protect the business in challenging environment
- With over 27.3 million subscriptions sold since launch in April 2017, ALT Balaji is certainly shaping the binge-viewing culture
- Total number of ‘Original Exclusive’ shows on the platform at 42
FINANCIAL PERFORMANCE ON A STANDALONE BASIS (Television and Movie Production)
- Q1 FY20 Revenues from Operations at Rs 82.9cr vs Rs 133.7 cr in Q1 FY19, Q1 FY19 had the hugely successful Veere Di Wedding
- Gross Margin in TV production business has improved for 4 consecutive quarters and at 30.3% in Q1 FY20
- Q1 FY20 EBITDA at Rs10.6cr vs -0.9 cr in Q1 FY19 – on account of improved cost controls across new show launches
- Q1 FY20 PAT at Rs 2.5cr vs -1.2 cr in Q1 FY19
- Investments in Mutual funds across the Company as on 30th June 2019 at Rs 247cr
