Balaji Telefilms announced its financial results for the first quarter and three months ended June 30, 2022. As per the company’s official statement, group revenues stood at Rs 118.8 crore of which ALTBalaji contributed Rs 36.8 crore. Meanwhile, group EBITDA loss stood at Rs 20.4 crore and loss after tax at Rs 24.5 crore. ALTBalaji total subscriptions sold in Q1, FY23 were 3.1 lakh. Direct subscription revenues stood at Rs six crore in Q1, FY23.
Our content has always resonated with audiences at large as is deeply ingrained in India’s socio-cultural fabric and this quarter has been no different given that we have continued to provide content driven and quality entertainment while simultaneously focusing on sustainable growth for our investors, Shobha Kapoor, managing director, Balaji Telefilms Limited said. “We released ‘Ek Villain Returns’ in theatres in July to a positive audience response which also reflected in its box office collection amounting to over Rs 51 crore till date. Additionally, we have a robust pipeline of six more movies to be released this year. As regards to our digital business ALTBalaji, we have inked some exciting deals with some of the leading content creators of our industry as well as continue to produce niche content driven shows in order to create a strong footprint in the OTT segment,” she added.
During the three months, the TV business produced 246.5 hours of production across eight shows for four broadcasters versus 174.5 hours in Q1, FY22. ‘Apnapan’ was launched in Q1, FY23 which generated good audience response, the company said. Two new shows have been lined up and should commence telecast shortly in the next quarter, it added.
“Considering that theatres are now operating at 100% capacity, we are confident that our movie business will be back on track given that we have six more movies up for release in FY23, out of which two films are in the ready to release stage, three films in post-production stage and one film under production. We have pre-locked revenue deals on our movies slate, thereby de-risking our movie business segment,” the company highlighted.
As per the company, it continues its strategy to drive deeper audience engagement by creating quality and content driven shows that are targeted at mass India seeking differentiated stories. Currently, the engagement time stands at over 62 mins, with watch time at 16.19 billion in minutes. Video views stand at 1.37 billion cumulative till date.