MUMBAI: Balaji Telefilms' net profit fell 21 per cent to Rs 112.83 million for the quarter ended 30 September 2004, from Rs 142.34 million a year ago.
Total income increased to Rs 467.76 million, up from Rs 435.16 million.

Balaji's board, which met on 16 October, decided not to declare interim dividend until there is reasonable certainty in relation to the receipt of regulatory approvals for the proposed investment in the company by Asian Broadcasting FZ LLC (a Star affiliate). This is to ensure that Balaji has adequate funds available for its capital requirements and expansion plans, after declaring an interim dividend. 

Asian Broadcasting had agreed to pay Rs 1.23 billion for 21 per cent stake in Balaji Telefilms and would have the option to hike it up to 26 per cent through an open offer.
 

When there is reasonable certainty, the Balaji board will convene another meeting to consider an interim dividend of Rs 16 per equity share of the Company. The record date for declaration of interim dividend, if any, shall be determined with a view to ensure that a) such dividend does not accrue to Asian Broadcasting and b) the public shareholders tendering their shares pursuant to the open offer by Asian Broadcasting would receive such interim dividend.