Quarterly Results: Entertainment Network (India) Ltd
Bhagyashree Vivarekar / 09 Nov 2016
Entertainment Network (India) Ltd is currently trading at Rs. 754.8, down by 7.65 points or 1% from its earlier closing of Rs. 762.45 on the BSE. The company's net profit has dropped 70.3% yoy to Rs 8.05 cr.
Technical View:
Entertainment Network (India) Ltd is currently trading at Rs. 754.8, down by 7.65 points or 1% from its earlier closing of Rs. 762.45 on the BSE.
The scrip has touched a high and low of Rs. 754.8 and Rs. 700 respectively, after opening at 700. By far 1944(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
Bloomberg estimates were higher than Entertainment Network (India) Ltd.’s actual consolidated Q2FY17 results. Revenue has come in 3% lesser than the estimate of Rs 134 cr. Net profit is 35.1% lesser than the estimated figure of Rs 15 cr.
The quarter's revenue has surged 11.5% yoy to Rs 129.64 cr.
ENIL's EBITDA has dropped by 39.1% yoy to Rs 23.12 cr driven by shrinking in EBITDA margins by 1481 bps yoy to 17.8%. This can be majorly attributed to 36% increase in operating expenses.
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