Television

Balaji Tele Q2 net profit surges 131%

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MUMBAI: Soap factory Balaji Telefilms' second quarter net profit has surged 130.8 per cent to Rs 152.88 million from Rs 66.24 million in the corresponding quarter last year.

Total income has increased from Rs 241.48 million to Rs 489.88 million.

The company board declared an interim dividend of Rs 1.50 per share (75% on an equity share of par value of Rs 2), Balaji said in a statement issued today.

The company's net sales or income from operations stood at Rs 489.6 million as against Rs 236.2 million in the Q2 of 2001, the statement said.

For the first half year ended 30 September, net profit stood at Rs 279.7 million as against Rs 115.6 million in the same period of the previous year and net sales were at Rs 887.3 million over Rs 472.7 million in H1 of 2001.

Earnings per share rose from Rs 6.43 to Rs 14.84, an increase of 130.80 per cent, realisation per hour was up from Rs 680,000 to Rs 1.14 mn, an increase of 67.65 per cent, operating profit margins from 39.91 per cent to 50.92 per cent, while net profit margins increased from 28.04 per cent to 31.22 per cent, the statement said.

Commenting on the company's performance, Shobha Kapoor managing director and CEO was quoted as saying: "I would attribute this quarter's stellar performance to the team work and quality of content produced by us. Our efforts to de-risk and scale up the business model have started delivering results even in a tough business environment. We are continuing our investments in infrastructure and building robust systems within the organization to further consolidate Balaji's position in the industry."

Among the operational highlights the company listed were:

* The fresh programming hours increase from 344.50 hrs to 429.50 hours, an increase of 24.67 per cent.

* The share of commissioned programming in the revenues has gone up from 68 per cent to 90 per cent.

* Increased focus on commissioned and regional segment of business.

* Rates of serials on Star Plus revised upwards.

* Weekend Program Kya Haadsa Kya Haqeeqat launched during the quarter on Sony TV sustained on TRP charts, creating a new weekend slot despite strong competition from other channels.

* Balaji's programming continues to dominate 16 of the top 20 programmes in Hindi cable & satellite channels.

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