Leading media firm Balaji Telefilms has declared its Q1 financial results for the fiscal year 2010-11. The company has posted a net profit of Rs 2.93 crore for this quarter. 

The net profit of the firm was reported to be Rs 8.97 crore for the same quarter last year. Hence there has been a decline of 67% in the net profit figure this time against last year's record.

So far as the net sales of the firm are concerned, it has declined to Rs 30.70 crore during the April-June period of fiscal year 2010. It has Rs 39.72 crore for the same quarter last year.

There has been a decline of 23% in the net sales of the company for the quarter under review against the same quarter last year. This has been informed by Balaji Telefilms in a filing at the Bombay Stock Exchange. 

Moreover, the company has faced an operating loss of Rs 5.69 crore in this quarter where as it has registered a profit of Rs 81 lakh last year.