BALAJI TELEFILMS Announces Quarterly Results (3QFY19); Net Profit Down 10.0%

Wed, 13 Feb

BALAJI TELEFILMS has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

BALAJI TELEFILMS Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	652	1,191	963	-19.1%	47.9%
Other income	Rs m	47	90	90	0.2%	90.9%
Turnover	Rs m	698	1,280	1,053	-17.7%	50.8%
Expenses	Rs m	722	1,377	1,225	-11.0%	69.6%
Gross profit	Rs m	60	-186	-262		-534.0%
Depreciation	Rs m	42	48	44	-7.9%	5.6%
Interest	Rs m	0	0	0	-50.0%	600.0%
Profit before tax	Rs m	66	-145	-216		-429.8%
Tax	Rs m	314	10	57	476.0%	-81.9%
Profit after tax	Rs m	-248	-154	-273
Gross profit margin	%	9.3	-15.6	-27.2
Effective tax rate	%	478.7	-6.8	-26.3
Net profit margin	%	-35.5	-12.1	-25.9

Year-on-Year Performance:

• The company's operating income during the quarter grew 47.9% on a year-on-year (YoY) basis. The expenses were up by 69.6% YoY during the same period.
• The company's operating profit declined by 534.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.2% in 3QFY19 as against 9.3% in 3QFY18.
• Depreciation charges increased by 5.6% and finance costs increased by 600.0% YoY, respectively.
• Other income increased by 90.9% YoY during the quarter.
• Net profit for the quarter declined by 10.0% YoY. Net profit margins during the quarter increased from -35.5% in 3QFY18 to -25.9% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 19.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.0% QoQ during the same period.
• The company's operating profit declined by 40.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.2% in 3QFY19 as against 15.6% in 2QFY18.
• Net profit for the quarter declined by 76.9% QoQ, while net profit margins declined from -12.0% in 2QFY18 to -25.9% in 3QFY19.

To see how BALAJI TELEFILMS has performed over the last eight quarters, please visit here.

BALAJI TELEFILMS Share Price Performance

Over the last one year, BALAJI TELEFILMS share price has moved up from Rs 148.8 to Rs 82.7, registering a Loss of Rs 66.1 or around 44.4%.

Meanwhile, the S&P BSE TECK Index is trading at Rs 7,694.8 (up 0.4%). Over the last one year it has moved up from 6,552.7 to 7,694.8, a gain of 1,142 points (up 17.4%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 82.7, the price to book value (P/BV) ratio of BALAJI TELEFILMS stands at 1.0 times.