Balaji Telefilms reports 76% jump in revenues in FY23

Ektaa Kapoor-owned film, television and web production house Balaji Telefilms said its television revenue surged 44% in FY23 to Rs. 344 crore compared to the previous year. The company reported a 76% year-on-year increase in revenue to ₹593 crore during the year.

The company said its group level Ebitda (earnings before interest, taxes, depreciation and amortization) profit stood at Rs. 11.5 crore in the March quarter versus Ebitda loss of Rs. 31.3 crore in Q4 FY22.

“Our continued focus on improving profitability, streamlining operations and cost-rationalization has yielded results with the Group level profitability significantly improving this quarter,” Shobha Kapoor, managing director, Balaji Telefilms Ltd said in a statement.

Profit after tax in the March quarter was at Rs. 7.7 crore compared to a loss of Rs. 33.3 crore in the same quarter of FY22. Balaji Telefilms reported a loss of Rs. 2.6 crore in Q3 FY23.

Balaji had nine shows on-air at the end of the quarter across four broadcasters and one new show is expected to go on-air in the upcoming quarter.

For digital, EBITDA losses narrowed by 71% in Q4 FY23 compared to Q4 FY22. Subscription revenues of ALTT stood at ₹19 crore for the 12 months of FY23 wherein a total of 1.11 million subscriptions were sold including 0.6 million renewals.

On the movie front, during FY23, a total of four titles were released with three of them, Ek Villain 2, Dobaaraa, and Goodbye releasing in cinemas while Karthik Aryan-starrer, Freddy streamed online. Upcoming titles include Thank you for Coming starring Bhumi Pednekar, Dream Girl 2 starring Ayushmann Khurrana and Ananya Panday, The Buckingham Murder starring Kareena Kapoor Khan and The Crew starring Kareena Kapoor Khan, Tabu and Kriti Sanon.