Balaji Telefilms has reduced its net loss at a consolidated level to Rs 26.4 crore in the third quarter (Q3) of financial year (FY22) as against a loss of Rs 31.7 crore in the same quarter last year. In Q2FY22, it had reported a net loss of Rs 39.4 crore. In addition, the company’s total income from operations has declined to Rs 76.2 crore in Q3FY22 from 105.5 crore in Q3FY21.
The company’s EBIDTA loss also narrowed to Rs 21.3 crore from RS 24 crore in same quarter previous year. Its cost of production came down to Rs 71.1 crore from Rs 86.3 crore in the same quarter of FY21. Moreover, the company’s marketing and distribution has seen a sharp decline from Rs 19.1 crore in Q3FY21 to Rs 3.9 crore for Q3FY22.
As per an official statement, Balaji Telefilms’ digital arm ALTBalaji sold 3.48 million subscriptions in the three quarters of FY22. The over-the-top (OTT) platform’s direct subscription revenues have increased to Rs 45 crore for the three quarters of FY22, compare to Rs 36 crore in the same period a year ago.
ALTBalaji continues to drive growth on the back of content, innovative marketing and affordable pricing, the company said in a statement. The platform will remain focused on minimising consumer churn in the competitive market.
Meanwhile, the television business returned to more normal production with 618 hours of content produced in the nine months of FY22. Hourly realisations remain muted at Rs 26 lakhs per hour, while it is expected to remain soft as broadcasters continue to assess the pandemic impact.
In the movie business segment, Balaji Telefilms is currently working on five projects. It is continuing to monitor shooting schedules and the availability of theatrical windows. However, the company is open to various monetisation opportunities for existing and future projects including direct to digital launches, it said in a statement.
Read Also: Nazara Technologies posts 42% rise in revenue to Rs 185.8 crore in Q3FY22
Follow us on Twitter, Instagram, LinkedIn, Facebook
