Television

Balaji Tele Q3 numbers take a hit - net slips 16%

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MUMBAI: Balaji Telefilms is in the red. The numbers for the production house have come in and they are not good. The company's net profits for the third quarter ended 31 December 2003 have slipped 15.97 per cent at Rs 146.8 million vis-a-vis Rs 174.7 million for the corresponding previous fiscal.



Total income has gone down from Rs 527.4 million in the Q3 2002 to Rs 448.4 million in the quarter ended 31 December 2003.



Net Sales or Operational Income for the company stands at Rs 440.79 million. While commissioned programming accounts for Rs 377.01 million of the net operational income, sponsored programming brought in Rs 63.78 million for the production house.



The company has stated an earnings per share (EPS) of Rs 2.80 in its declared results.



Balaji Telefilms president - corporate affairs & company secretary Ajay Patadia has resigned with effect from 23 January 2004 and has been appointed as additional director (non-executive). One of the promoters Tusshar Kapoor has also been appointed as a non-executive additional director of the Company, the company informed the National Stock Exchange.



Other appointments include that of Alpa Shah who has been appointed as the company secretary. The company also informed the NSE that director Raj Bhotra has vacated his office as director with effect from 23 January 2004, in terms of clause (g) of sub-section (1) of Section 283 of the Companies Act, 1956.



The Balaji Telefilms stock gained 2.8 per cent on Friday 23 January to close at Rs 97.45. Over 0.12 million shares were traded on the counter on Friday.



Note: The results declared are unaudited, non-cumulative, non-consolidated third quarter financial results.

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