TV Today Network hits record high; stock zooms 50% in September

Thus far in September 2017, the stock outperformed the market by surging 50% from Rs 243, against 0.75% rise in the S&P BSE Sensex

TV Today Network hit record high of Rs 364, up 6% on BSE, extending its rally for the past month on back of heavy volumes.

So far in September 2017, the stock outperformed the market by surging 50% from Rs 243, against 0.75% rise in the S&P BSE Sensex.

Since August 10, post April-June quarter (Q1FY18) results, it zoomed 69% from Rs 216 after the company reported a good performance on operating level. On comparison, the benchmark index was up 1.3% during the same period.

The company’s profit before interest, tax, depreciation and amortization or EBITDA for the quarter rose by 24.5% year-on-year (yoy) to Rs 45.90 crore with a corresponding margin expansion of 346 bps. EBITDA margin for the quarter stood at 30.4%.

The net profit of the company, however, declined 13% yoy to Rs 19.39 crore, mainly on account of an exceptional items loss of Rs 13.78 crore.

At 3:26 pm, the stock was up 5% at Rs 358, as compared to 1.4% decline in the Sensex. The trading volumes on the counter more than doubled with a combined 1.48 million shares changed hands on the BSE and NSE.