Balaji Telefilms Limited makes an EBITDA profit for the second consecutive quarter that ended March 31, 2023. Both during the quarter and throughout the entire year, each of the three key verticals—TV production, Digital (ALTT), and movies—has demonstrated strong performance.
For FY 23 the organization posted a 76% increment in income to Rs 593 Cr Versus Rs 337 Cr in FY22. After a difficult three years caused by the pandemic and other disruptions, the company has shown a turnaround in performance, with consolidated EBITDA of Rs 11.5 Cr in Q4 and Rs4.6 Cr in Q3. While business is back to where it was before the pandemic, strategic initiatives and cost reduction have significantly increased productivity.
For the March quarter, the digital platform of the company, ALTT, was able to reduce the EBITDA losses by 71% compared to the same period last year to Rs 9.8 Cr. The digital business’s losses have decreased by more than half throughout the entire year. ALTT generated Rs 19 crore in subscription revenue for the year with 1.11 million subscriptions sold, including strong new additions and subscription renewals from over 6 lakh customers. There were sales of 2.4 lakh subscriptions in the March quarter itself.
ALT Digital has made strategic deals to produce content for some of the biggest digital platforms in an effort to make use of its production expertise. The ongoing request book has 8 shows to be created for probably the most popular names in the business. The new management team is focused on streamlining operations at all levels and rationalizing non-core expenses, in addition to diversifying revenue streams. The content lineup for ALTT is developing, and the launch of new shows in a variety of genres is anticipated to result in positive quarter results. Over 16.6 billion minutes worth of ALTT content have been viewed to date, with 1.5 billion views.