Television

Balaji Telefilms scrip rises post 3QFY03 net profits

MUMBAI: The stock markets are bullish about Balaji Telefilms due to the increase in its net profits for the quarter ended 31 December 2002. On the Bombay Stock Exchange (BSE), the Balaji Telefilms scrip opened today at Rs 74.4 and climbed to Rs 76 (up 2.15 per cent) by noon. On the National Stock Exchange (NSE), the scrip climbed to Rs 78.85 (up 1.95 per cent). The volumes traded were 28,714 shares  MD Shobha Kapoor) and 66,134 shares (NSE).

Balaji Telefilms has posted a net profit of Rs 174.75 million for the third quarter ended 31 December 2002, which is 105.28 per cent higher compared to a net profit of Rs 85.10 million in the corresponding period last fiscal.

The net sales for the nine months ended 31 December was Rs 1414.32 million as compared to Rs 774.72 million for the corresponding period last year. The net profit for the nine month period in 2002 was Rs 454.46 million as compared to Rs 200.7 million in 2001.

Total income of the production kingpin has increased by 73.48 per cent from Rs 304.0 million in the December quarter of 2001 to Rs 527.41 million in the quarter under review. EPS 3.39 on a price of Rs 74.40, the PE ratio works out to 21.92.

Commenting on the third quarter performance of the company, Balaji Telefilms CEO and MD Shobha Kapoor said: "Our efforts of producing quality programs have delivered excellent results during the quarter and we continue to vigorously pursue the strategy of delivering high quality entertainment."

"We are now pushing the yardstick further with a spate of investments in the state of the art studios/facilities that will spur future growth and strengthen our leadership. We are also targeting regional/ international markets and have plans to leverage our existing software library. Our endeavor is to take the Indian television programming industry to global heights," added Kapoor.

The revenues from commissioned programmes rose to Rs 433.04 million for the quarter ended 31 December 2002 (as against Rs 230.82 million in 2001) and Rs 1216.13 million for the nine months ended 31 December 2002 (as against Rs 518.62 million).

The revenues from sponsored programmes rose to Rs 93.89 million for the quarter ended 31 December 2002 (as against Rs 71.09 million in 2001) but fell to Rs 198.19 million for the nine months ended 31 December 2002 (as against Rs 256.1 million).

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