Balaji Telefilms Q1 Net plummets 80.28% at Rs 2.08 cr

Net sales down 45% to Rs 75 cr; company enters digital business through new venture

Balaji Telefilms today reported 80.28 per cent drop in consolidated net profit at Rs 2.08 crore for the first quarter ended June 30, due to lower sales.

The company had reported a net profit of Rs 10.55 crore in the same period a year ago.

Its net sales in the quarter under review stood at Rs 74.63 crore, down 44.85 per cent from Rs 135.33 crore in the corresponding quarter of the previous fiscal, Balaji Telefilms said in a BSE filing.

Meanwhile, in a separate filing, the company said it has entered the digital business through its new venture Alt Digital Media Entertainment.

Alt Digital Media will create highly differentiated, original, ad-free digital content for the entire connected ecosystem spanning mobiles, internet, smart TVs, tablets, xBoxes and play stations, the company said.

Shares of Balaji Telefilms were trading at Rs 85.20 apiece, up 2.84 per cent from their previous close on the BSE.