Balaji Telefilms, an entertainment content provider with interests in films and television programmes, reported consolidated net profit of Rs 6.62 crore for the quarter ended 31 December, 2015, as compared to a net loss of Rs 6.95 crore in the corresponding period last fiscal.
Net sales from operations stood at Rs 73.15 crore, up 2.19 percent from Rs 71.53 crore in the year-ago period, the company said in a regulatory filing to the BSE on Friday.
Balaji Telefilms also announced that it will raise Rs 150 crore by issuing 10,720,000 shares to institutional investors Atyant Capital India Fund â€“ I, Vanderbilt University, GHI LTP Ltd, GHI HSP Ltd and GHI ERP Ltd, at a price of Rs 140 per share.
"The issue price represents a 26% premium over the average of the weekly high and low of the volume weighted average share price of the Company during the past 26-week period. The proceeds of the issue will be utilised to catapult the launch and growth of ALT Digital Media Entertainment Limited (ALT Digital Media) â€“ the Group's foray into the B2C digital content business segment," the company said.
Post the issue, which is subject to regulatory approvals, the promoters' stake will come down to 40.6 percent. Their stake was 47.29 percent as on 31 December, 2015, the company said in an earlier regulatory filing.
The share price of Balaji Telefilms closed at Rs 111.60 on Friday on the BSE, down 0.09 percent from its previous close.
Balaji Telefilms is the producer of television serials such as "Naagin", "Kumkum Bhagya", "Ye Hai Mohabbatein", some of which frequently make it to the weekly TRP ratings in the list of popular Hindi soaps.
It also produces movies, with the latest one, "Kya Kool Hai Hum 3", being released on 22 January this year. It had listed "Udta Punjab", "Great Grand Masti" and "Azhar" as its upcoming releases in a corporate presentation released in December last year.
The company's main promoters include Hindi film actor Jeetendra Kapoor, his daughter Ekta Kapoor and son Tusshar Kapoor.