Balaji Telefilms Q4 net loss narrows down to Rs 20 crore

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Production house Balaji Telefilms Ltd on Wednesday reported narrowing of consolidated loss to Rs 19.84 crore in the fourth quarter ended on March 31, 2020. The company had posted consolidated loss of Rs 27.97 crore in the same quarter of the preceding fiscal, Balaji Telefilms said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 107.68 crore as compared to Rs 88.86 crore in the year-ago period, it added. For the fiscal ended on March 31, the company said its consolidated loss was at Rs 58.96 crore. The same was at Rs 97.75 crore in the previous year, Balaji Telefilms said.

Revenue from operations in 2019-20 was Rs 573.55 crore as compared to Rs 427.7 crore in 2018-19, it added.

The COVID-19 pandemic and the resultant lockdown declared by the government in March 2020 has adversely impacted the entire media and entertainment industry and consequently the business activities of the group are also affected, Balaji Telefilm said.

It, however, said operations for TV business have resumed as per guidelines of the government and local authorities from June 26.

Although the group's digital business continued to operate throughout the lockdown period, launch of new shows is affected due to shutdown in production activities during the lockdown phase, it said.

Production of digital content and films is expected to be resumed in due course, it added.