MUMBAI: The drama at Balaji Telefilms has taken a sharp turn and this time, it’s playing out on the balance sheet. The content powerhouse slipped into the red for the quarter ended 30 June 2025, posting a consolidated net loss of Rs 594.6 lakh, a far cry from the Rs 94.0 crore profit it clocked in the preceding March quarter.
Revenue from operations fell 51 per cent year-on-year to Rs 72.8 crore, down from Rs 149.2 crore in Q1 FY24, as all three segments took a hit. Commissioned programmes brought in Rs 49.9 crore (down from Rs 75.4 crore), films collapsed to Rs 1.4 crore from a blockbuster Rs 73.2 crore, and digital revenue rose to Rs 29.1 crore from Rs 9.8 crore but still bore the shadow of the OTT platform’s regulatory shutdown in July.
Production and acquisition costs surged to Rs 95.8 crore, while marketing expenses stood at Rs 5.38 crore and employee costs at Rs 8.53 crore. Depreciation came in at Rs 1.76 crore, and finance costs eased to Rs 21.8 lakh. Other expenses, at Rs 11.2 crore, added to the squeeze.
Segment-wise, commissioned programmes swung to a Rs 5.45 crore loss, films lost Rs 2.27 crore, and digital narrowed losses to Rs 92 lakh from Rs 2.08 crore a year ago. Assets in the digital segment have shrunk to Rs 99.9 crore from Rs 246.8 crore last year, reflecting the OTT disruption.
Despite the setback, Balaji says it is “taking active steps” to comply with regulations and re-enter the digital fray. Until then, investors may have to wait for the next season to see if the plot delivers a turnaround.
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