Business

Strong TV and film business boost Balaji revenues in FY19

Media conglomerate Balaji Telefilms on May 22 announced its financial results for the year ended on March 31, 2019.

With interests across television, movie and digital content production, the company’s revenues from operations increased 6 percent driven by content production.

The breakup for revenues from operations comes to Rs 341.2 crore from content production and Rs 99.1 crore from movies, taking the total to Rs 440.3 crore.

“Operationally we had a good year. Our television business continues to be the number one content creator with a very healthy order pipeline. Our movies continue to narrate clutter breaking stories and have recorded good pre-sales. ALTBalaji, in under two years is becoming a major value driver for us and we continue to invest in scaling the business,” said Shobha Kapoor, Managing Director, Balaji Telefilms Limited.

There was 14 percent improvement in the revenues per hour of programming in the television business in FY19 at Rs 38 lakh/hour in comparison to Rs 33 lakh/hour in FY18.

Gross margin in the television business improved for three consecutive quarters at 27.7 percent in Q4 FY19. EBITDA for the television business stands at Rs 50.7 crore for FY19, operating at 14.9 percent margin.

There were two film releases during the year and the business generated an EBITDA before exceptional items of Rs 5.4 crore.

There were seven shows on air during the quarter of which four shows were in the top 5 shows.

As many as five movies are underway for release in FY20. The company said that production costs for these movies have been recovered via pre-sales.

The company also claims their over the top platform (OTT) ALTBalaji as among the top three grossing video-on-demand services in India, according to data from App Annie data.

ALT Balaji sold as many as 20 million subscriptions during the year. The platform released a total of 38 shows this quarter.

[“source=moneycontrol”]