Balaji Telefilms reports Q3FY24 results - Details

Balaji Telefilms Limited has announced its financial results for the third quarter and nine months ended 31 December 2023. According to an exchange filing, the group reported an 8.5 per cent increase in revenue from operations to Rs 490 crores in 9M FY24 vis-a-vis Rs 448.3 crores in 9M FY23. 

However, for the third quarter, the company reported revenue from operations of Rs 138.3 crore compared to Rs 165.4 crore a year ago.  

The YoY gross margins of the company grew from Rs 29.70 crore in Q3FY22 to Rs 36.60 crore in Q3FY24. YoY EBITDA margins of the company remained steady at 3 per cent.

Meanwhile, the board of directors has approved the issuance of over 2.38 crore convertible warrants carrying a right to subscribe one fully paid-up equity share of the face value of Rs 2 on a preferential basis. 

The company aims to raise funds of Rs 214 crore by way of the proposed issue. 
 
The board of directors of the entertainment company has also approved the warrant price of Rs 89.60 apiece.

In the last one year, shares of Balaji Telefilms have delivered stellar returns of over 210 per cent to investors. 

In the last six months, the stock has given 150 per cent return to its shareholders. The counter has made investors wealthier by over 37 per cent in the last one month.

Shares of Balaji Telefilms, which has a market cap of Rs 1,311 crore, have a 52-week high of Rs 132,99 and a 52-week low of Rs 35.30.