Ekta Kapoor's Balaji Telefilms reports Rs 27.87 cr net loss in Q1

Media and content provider Balaji Telefilms on Monday reported narrowing of consolidated net loss to Rs 27.87 crore in three months ended June.

company had posted a net loss of Rs 42.18 crore in year-ago period, according to a regulatory filing.

Revenue from operations declined 61.28 per cent to Rs 35.05 crore in latest June quarter from Rs 90.52 crore in same period a year ago.

" COVID-19 pandemic and resultant lockdown declared by government had adversely impacted entire media and entertainment industry and consequently, business activities of Group was also affected in current quarter," company said.

Digital business continues to remain resilient while content production business, which was impacted during pandemic, is w returning to rmal, Balaji Telefilms in a statement.

"Balaji Telefilms TV content production remained closed until June 26 following necessary health and safety precautions. Production operations have resumed and currently, six shows are on air," it said.

Its OTT (Over Top) platform ALTBalaji reported a 90 per cent growth in direct subscription revenue at Rs 12.9 crore in first quarter of current fiscal compared to Rs 6.7 crore in year-ago period.

"Total revenue for ALTBalaji stood at Rs 14.9 crore versus Rs 12.3 crore in first quarter of financial year 2020," company said.

On Monday, shares of Balaji Telefilms settled at Rs 76.15 on BSE, up 1.33 per cent from previous close.