 "Shemaroo Entertainment hits new high since listing")
Shemaroo Entertainment has surged 20% to Rs 217, also its new high since listing which occured last month on the NSE, on back of heavy volumes.
Shares of movies and entertainment maker opened at Rs 217 and touched a low of Rs 200 so far. At 1015 hours, a combined 595,982 equity shares representing 2.19% of total equity changed hands on the NSE and BSE.
Since November 11, the stock has gained 32% from Rs 164, after the company reported 37% jump in consolidated net profit at Rs 8.57 crore for the quarter ended September 2014 (Q2FY15) against Rs 6.25 crore in a year ago quarter.
EBITDA or operating margin stood at 24.9% in Q2FY15 against 23.2% in Q2FY14, the company said in a statement.
Our strategy has started showing visible results with our total income reflecting a growth rate of 21% at Rs 85.22 crore in second quarter, it added.
“Embarking on our huge library of more than 2900 titles and consumers' inclination towards digital world, we are certainly standing at the brink of immense opportunities to tie up with many more platforms where the end users consume entertainment”, said Hiren Gada, Wholetime Director and CFO.
Meanwhile, the Mumbai-based firm had raised Rs 120 crore by issuing equity shares at Rs 170 a share.
Shares of movies and entertainment maker opened at Rs 217 and touched a low of Rs 200 so far. At 1015 hours, a combined 595,982 equity shares representing 2.19% of total equity changed hands on the NSE and BSE.
Since November 11, the stock has gained 32% from Rs 164, after the company reported 37% jump in consolidated net profit at Rs 8.57 crore for the quarter ended September 2014 (Q2FY15) against Rs 6.25 crore in a year ago quarter.
EBITDA or operating margin stood at 24.9% in Q2FY15 against 23.2% in Q2FY14, the company said in a statement.
Our strategy has started showing visible results with our total income reflecting a growth rate of 21% at Rs 85.22 crore in second quarter, it added.
“Embarking on our huge library of more than 2900 titles and consumers' inclination towards digital world, we are certainly standing at the brink of immense opportunities to tie up with many more platforms where the end users consume entertainment”, said Hiren Gada, Wholetime Director and CFO.
Meanwhile, the Mumbai-based firm had raised Rs 120 crore by issuing equity shares at Rs 170 a share.
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