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Balaji Telefilms Net Profit Up 76%

After suffering an 88% decline in profits in the quarter July-August-September last year, Ekta Kapoor's Balaji Telefilms recovered slightly with consolidated net profits increasing 76% sequentially to Rs. 18.15 million in the December quarter, 3 times higher than the Rs. 5.67 million reported in December 2008. It has witnessed break even in December after six months of losses, Indian Television quotes Puneet Kinra, CEO of Balaji Telefilms as saying. Details: Financials Revenues From Commissioned Progs, Investment Revenue from commissioned and sponsored programmes flopped a bit quarter on quarter - the former by 34.2% to Rs. 333.36 million and sponsored by 13% to Rs. 58.3 million. Costs of production and telecast fees rose to Rs. 303.1 million but total expenditure reduced to Rs. 421.7 million on the back of initiatives taken to strengthen operational efficiency. The company has invested Rs. 307.57 million in building a studio at Mira Bhayander Municipal Corporation, though the land in question is under dispute at the High Court of Mumbai. It also has another legal problem involving an export to one of its clients. Related - Balaji New Media CEO Uday Sodhi On Hoonur.com, Mobile Content Initiatives - Balaji Telefilms Suffers 88% Fall In Net Profits

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