TV18 Broadcast jumps 12% thanks to the highest operating EBITDA ever recorded in Q3
Shares of TV18 Broadcast jumped 12% to 55.15 rupees in Wednesday’s intraday trading on BSE, after the company announced its highest-ever consolidated operating profit before interest, taxes, depreciation and amortization (ebitda) at Rs 355 crore with margins of 22.7% for the October to December 2021 quarter (Q3FY22). In Q3FY21, operating EBITDA and margin stood at Rs 321 crore and 23.6%, respectively.
Strong revenue growth momentum continued in the quarter as the company posted its highest quarterly revenue of Rs 1,567 crore, up 15.1% year-on-year (YoY), despite the pandemic-induced headwinds facing the film industry, TV18 Broadcast said. in statement. However, consolidated profit after tax (PAT) declined by 17.5% year-on-year to Rs 311 crore from Rs 377 crore in the prior year quarter.
The TV industry saw unprecedented advertising volumes in the third quarter, driven by strong consumer demand, increased spending by existing brands for greater share of voice and new advertisers using the medium to expand their reach. .
Supported by advertising demand and robust audience share, the entertainment and news business saw strong advertising revenue growth, with year-to-date revenue exceeding FY21 levels, it said. the society.
As of 10:17 a.m., the stock was up 11% at Rs 54.70, against a 0.38% drop in the S&P BSE Sensex. The stock hit a 52-week high at 55.80 rupees on December 14, 2021. Over-the-counter trading volumes nearly doubled with around 31 million shares combined changing hands on the NSE and BSE.