MUMBAI: Balaji Telefilms Ltd has posted a net profit of Rs 142.34 million for the quarter ended 30 September, 2003, down 6.89 per cent as compared to Rs 152.88 million for the quarter ended 30 September, 2002.

Total income decreased from Rs 489.88 million in the second quarter of '02 to Rs 435.16 million in the quarter ended 30 September, 2003.

bseindia.com reports that Balaji's Board of Directors (BoD) has recommended an interim dividend of Rs two per share (100 per cent on equity share of paid up value of Rs 2) for the half year ended 30 September, 2003.

Commenting on the results, Shobha Kapoor, CEO and MD of Balaji is reported to have said, "During the quarter, our balanced business model ensured that our revenues are sustained even in a temporary tough phase of business, where launch of some of our commissioned programmes was delayed. The investments in infrastructure and systems have led to a substantial savings in the cost of operations thereby further improving the company's margins."

She said, "In the coming months, after having consolidated our operations and systems, we will be launching new shows across various channels. We are confident that our value proposition to our viewers and customers will take Balaji Telefilms to newer heights."