Quarterly Results: Prime Focus Ltd

Technical View: 

Prime Focus Ltd is currently trading at Rs 70.7, up by 0.6 points or 0.86 per cent from its previous close of Rs 70.1 on the BSE.
The scrip opened at Rs 70.7 and has touched a high and low of Rs 70.7 and Rs 70.70, respectively. A total of 9963 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.

Consolidated Results Q2FY17:

Prime Focus reported its quarterly results for Q2FY17 before market hours.

The company's consolidated revenue rose 4 per cent YoY to Rs 467 crore driven by a 29 per cent YoY growth in tech/tech-enabled services. The creative and tech-enabled services contributed 72 per cent and 19 per cent, respectively to total segmental revenues.

The company's EBITDA for the period rose 11.3 per cent YoY to Rs 59 crore with the corresponding EBITDA margins expanding 83 bps to 12.6 per cent. This primarily cost reduction was from technical service cost which fell 31.7 per cent YoY.

Also, the net loss increased 55.4 per cent YoY to Rs 36 crore. The net loss in Q2FY16 was Rs 23 crore. The increase in losses was due to higher finance costs (up 39.2 per cent YoY) and impact of Ind-AS adoption.