Disclaimer: The article is for informational purposes only and not investment advice.
Mumbai: Balaji Telefilms, a prominent media and entertainment company, has disclosed an 8.5% surge in revenue, reaching Rs 490.0 crores during 9M FY24 compared to Rs 448.3 crores in the corresponding period of FY23. The positive financial performance is attributed to the company’s strategic focus on operational excellence and cost rationalization across its business segments, particularly in the digital domain (ALT Digital).
EBITDA Profit and Strategic Measures:
The group-level EBITDA profit for 9M FY24 is reported at Rs 43.7 crores, showcasing a significant turnaround from the EBITDA loss of Rs 30.6 crores in 9M FY23. Balaji Telefilms’ emphasis on strategic measures, especially in its digital business, has contributed to this improvement. The company anticipates continued positive outcomes from these initiatives in the future.
The Profit After Tax (PAT) for 9M FY24 stands at Rs 22.0 crores, signifying a noteworthy improvement compared to the loss after tax of Rs 45.7 crores in the corresponding period of the previous fiscal year. The positive trajectory in PAT reflects the company’s efforts to enhance financial performance and profitability.
In a recent development, Balaji Telefilms’ board of directors has approved the issuance of over 2.38 crore convertible warrants, aiming to raise funds of Rs 214 crores. These warrants carry the right to subscribe to one fully paid-up equity share, reinforcing the company’s financial position. The approved warrant price is set at Rs 89.60 apiece.
In Conclusion and Impact:
Balaji Telefilms’ improved financial performance, with a substantial increase in revenue and a shift to EBITDA profitability, indicates the efficacy of its strategic measures. The issuance of convertible warrants aligns with the company’s fundraising objectives, providing additional capital for potential growth initiatives. The positive trajectory in financial metrics positions Balaji Telefilms for future opportunities and signifies a strengthened financial outlook.
