Balaji Telefilms advances as unit's service streams on Amazon's device

Balaji Telefilms rose 2.96% to Rs 153.30 at 12:11 IST on BSE after the company said its subsidiary's content subscription service is now available on Amazon's internet streaming device globally.

The announcement was made at the fag end of the market hours yesterday, 13 June 2017. On that day, the stock had risen 9.97% to settle at Rs 148.90.

Meanwhile, the S&P BSE Sensex was down 15.94 points, or 0.05% at 31,087.55. The S&P BSE Small-Cap index was down 4.84 points, or 0.03% at 15,513.09.

High volumes were witnessed on the counter. On the BSE, 3.46 lakh shares were traded on the counter so far as against the average daily volumes of 1.57 lakh shares in the past two weeks. The stock had hit a high of Rs 158.75 so far during the day, which is also its 52-week high. The stock hit a low of Rs 144.45 so far during the day. The stock had hit a 52-week low of Rs 73.85 on 22 November 2016.

Balaji Telefilms said that ALTBalaji, the exclusive and original content subscription service offered by the company's subsidiary ALT Digital Media Entertainment, is now available on Fire TV Stick, Amazon's internet streaming device with voice remote recently launched in India. ALTBalaji will be providing a special introductory offer on their yearly subscription packs to Fire Tv users worldwide and will be jointly marketing the service to its audience.

Balaji Telefilms reported consolidated net profit of Rs 0.31 crore in Q4 March 2017, compared with net loss of Rs 16.01 crore in Q4 March 2016. Net sales rose 13.6% to Rs 94.52 crore in Q4 March 2017 over Q4 March 2016.

Balaji Telefilms is engaged in the production of television content. The company operates through two segments: commissioned programmes and feature films.

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