Balaji Telefilms, which owns Ekta Kapoor’s film, television and web productions, reported a 48% year-on-year rise in TV revenue to Rs. 249 crore in the first nine months of FY23.Earnings before interest, taxes, depreciation and amortization or Ebitda rose 167% to ₹35 crore during the period.
The company said at the end of the quarter, eight shows were on the air across four broadcast networks, and two new shows are expected to air next quarter.
Overall, the group posted an Ebitda profit of Rs. 4.6 million in 3QFY23 against an Ebitda loss of Rs. 14.8 crore in Q2 FY23 and ₹ 21.3 crore in Q3 FY22. Profit before tax in 3QFY23 is ₹2.5M compared to loss before tax of $18.8M in 2QFY23 and $24.6M in 3QFY22.
At ALT Digital, 3QFY23 Ebitda losses were down 60% compared to 3QFY22 and 33% compared to 2QFY23. ALT Digital’s subscription revenue for the nine months of FY23 was approximately ₹15 crore. A total of 8.7 million subscriptions were sold during that period, including 4.6 million renewals, the company said.
Balaji Telefilms says
Shobha Kapoor, Managing Director, Balaji Telefilms Limited, said in a statement “Once we return to profitability, we hope to maintain our growth momentum and keep our customers engaged with fresh and innovative content. The TV industry continues to perform well with strong operating performance along with expanding margins. We had eight shows on the air at the end of the quarter and hope to add two more during the next quarter. We also have a strong pipeline of eight films in various stages of production and we hope these films will resonate with our audience”.
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