India's Balaji Telefilms posts smaller Q2 loss as TV segment improves

Balaji Telefilms

10/11/2022 13:04

BENGALURU, Nov 10 (Reuters) - Indian media and
entertainment company Balaji Telefilms Ltd  BLTE.NS  reported a
smaller second-quarter loss on Thursday on the back of improved
performance by the company's television segment.
    The Mumbai-based company reported a consolidated net loss of
184.7 million Indian rupees ($2.26 million) for the three months
ended Sept. 30, from 391.6 million rupees a year earlier.
    Balaji Telefilms, which provides content to TV channels such
as Star Plus, Colors and Zee TV, said it will focus on reducing
its cash burn.
    The company's revenue from operations more than doubled to
1.64 billion rupees, with commissioned programmes accounting for
most of it.
    Revenue at the company's digital arm ALTBalaji fell 70% to
56.4 million rupees, hurt by tough competition from streaming
giants Disney+ Hotstar, Netflix Inc  NFLX.O  and Amazon Inc's
 AMZN.O  Prime Video.
 ($1 = 81.6880 Indian rupees)
 (Reporting by Meenakshi Maidas in Bengaluru)
 ((Meenakshi.Maidas@thomsonreuters.com; Mob: +91 8921483410))