Balaji Tele net jumps to Rs 574.14m; total income at Rs 1.87b

MUMBAI: Despite the negative sentiment in the market about its performance, Balaji Telefilms has declared spiffing results not only for the last quarter of FY 02-03, but for the entire year too. 

The net profit leapt from 290.15 million in the previous FY to Rs 574.14 million while its Q4 profit also rose to Rs 119.68 million (Rs 89.39 million in the previous corresponding quarter). Q4 total income has increased from Rs 348.71 million in FY 2002 to Rs 459.39 million.

The board of directors has recommended a final dividend of Rs 1.50 per share on par value of Rs 2 per share for the year ended 31 March 2003.

The net sales for the year grew 68-odd per cent to Rs 1859.65 million from Rs 1102.95 million while its other income was halved to Rs 14.91 million (Rs 28.14 million). The total income increased to Rs 1874.57 million (Rs 1131.09 million).

The operating profit has more than doubled to Rs 948.22 million from Rs 456.47 million. Ditto for gross profit which increased to Rs 947.63 million from Rs 456.08 million. The profit before tax has also grown twice to Rs 905.20 million as compared to Rs 445.42 million. The company's reserves position has swelled to Rs 961.40 million as compared to Rs 558.5 million for the corresponding period last year.

The EPS (earning per share) reduced considerbly to Rs 11.14 as compared to Rs 28.16 for the corresponding period last year. The reason: in a bid to expand its investor base it split each Rs 10 face value share into a Rs 2 face value share in July 2002. In the process, it expanded the floating stock in the retail market.

The Balaji scrip ended the day at Rs 56.6 (up 0.35 per cent) on the Bombay Stock Exchange today and at Rs 56.60 on the National Stock Exchange. The 52-week high of the scrip as of today was Rs 579.90 and the scrip began the year around the Rs 80-mark. Since then, it has experienced a steady downward fall.

Balaji Telefilms' TV shows and series have reportedly been losing viewer ratings in recent times, leading to discussions amongst financial analysts on whether the Ekta Kapoor run company has plateaued. Adding grist to that talk is the dislodging of Kyunki Saas Bhi Kabhi Bahu Thi from the number one ratings slot by Des Mein Nikla Hoga Chand, produced by AK Productions, last week

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