Shares of TV18 Broadcast surged 12 per cent to Rs 55.15 in Wednesday's intra-day trade on the BSE, after the company reported its highest-ever consolidated operating earnings before interest, taxes, depreciation, and amortization (ebitda) at Rs 355 crore with margins of 22.7 per cent for October-December 2021 quarter (Q3FY22). In Q3FY21, operating ebitda and margin stood at Rs 321 crore and 23.6 per cent, respectively.
Strong revenue growth momentum continued during the quarter as the company reported its highest-ever quarterly revenue of Rs 1,567 crore, up 15.1 per cent year-on-year (YoY), despite the pandemic induced headwinds faced by the movie business, TV18 Broadcast said in statement. However, consolidated profit after tax (PAT) de-grew 17.5 per cent YoY to Rs 311 crore from Rs 377 crore in a year ago quarter.
TV industry saw an all-time high advertising volumes in the third quarter driven by strong consumer demand, increased spending by existing brands for a higher share of voice and new advertisers using the medium to widen their reach.
Buoyed by the advertising demand and a robust viewership share, both Entertainment and News businesses delivered a strong growth in advertising revenues with YTD revenues surpassing full-year FY21 level, the company said.
At 10:17 am, the stock was up 11 per cent at Rs 54.70, as compared to 0.38 per cent decline in the S&P BSE Sensex. The stock has hit a 52-week high of Rs 55.80 on December 14, 2021. The trading volumes at the counter nearly doubled with a combined around 31 million equity shares changing hands on the NSE and BSE.
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