Balaji stock hits the roof as Q3 net profit Rs 85 million

Yes, Balaji Telefilms has done it again: turned out enviable financial results at a time when other media firms are struggling to match last year's performances. The Ekta Kapoor promoted Balaji has reported a net profit of Rs 85.1 million in the third quarter ended 31 December 2001, which is up 28.5 per cent over the Rs 66.2 million it notched in the second quarter ended on 30 September 2001. Its net margin is a chirpy 28 per cent for the just concluded quarter.

Net sales are up by a healthy 27.8 per cent from Rs 236.2 million in Q2 to Rs 301.9 million in this quarter. Some 75 per cent (Rs 230.82 million) of total sales has come from commissioned programs and the remaining 25 per cent is from sponsored programs in the Q3.

The company has managed to keep a tight rein on costs with production and telecast fees staying put at the same level as the earlier two quarters which was Rs 137.42 million.

The spurt in revenues has come at a time when its other income in the quarter has gone down by 60 per cent from Rs 5.2 million to Rs 2.11 million.

The market has been expecting good results from India's leading production house as it has driven up the Balaji share from Rs 185 hardly two months ago to Rs 400 plus in the past fortnight. And it responded similarly today with the Balaji share opening at Rs 414.65. It then oscillated in the Rs 412 - 444.85 band closing at a new high of Rs 426. The BSE index was steady at 3384.38, with a marginal positive change of 0.22 per cent.

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