AltBalaji net loss at Rs 27 crore despite 21% revenue growth in Q1FY21

Balaji Telefilms Limited, in its financial results for the first quarter ended June 30, 2020, said the direct subscription revenue for its OTT platform Altbalaji grew 90% year on year. Q1FY21 direct revenue for AltBalaji was at Rs 12.9 crore vs Rs 6.7 crore in Q1FY20.

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Total revenue for ALTBalaji was at Rs 14.9 crore vs Rs 12.3 crore in Q1FY20.

The net loss for AltBalaji stood at Rs 27.1 crore.

Balaji Telefilms posted Rs 27.9 crore net loss vs 42.2 crore in Q1FY20.

Total revenues for the quarter of Balaji Telefilms stood at Rs 35.1 crore. Impacted by lockdown and closure of all content production activity, Q1FY21 revenues were primarily from ALTBalaji and sale of digital rights in the movies business.

Shobha Kapoor, Managing Director, Balaji Telefilms Limited, said, “The quarter has been particularly challenging as all content production activity came to a stop. However, our digital businesses have performed well and we are well positioned to grow that business. We remain confident that our TV business will return to more normal levels of content production as our teams have adapted to shooting under the new rules following all health and safety requirements, we now have 6 shows on air and a couple more in the pipeline. We have initiated several cost optimisation programs during the quarter and should continue to see the benefits of these programs as content production volumes return.”

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