ENIL Q2 Results Review – Volumes Recover But Yields Lag: Prabhudas Lilladher


BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Prabhudas Lilladher Report

While Entertainment Network India Ltd.’s top-line of Rs 1,031 million was in-line with our estimate, there was a miss at bottom-line level due to an exceptional loss of Rs 178 million pertaining to impairment provision in the U.S. and Bahrain businesses on account of Covid.

Going ahead, revival in radio business will be led by volumes which have shown signs of improvement (up 20% during H1 FY23 in top-21 markets over pre-Covid base) while yields would take longer to recover.

In order to diversify out of radio business (low growth market), ENIL is taking steps to increase exposure to core solutions and digital business which is expected to form ~50% of the top-line in FY25E.

While Mirchi’s diversification efforts are commendable we await green shoots on delivery front as losses on digital business will have to be absorbed in the initial phase.

Click on the attachment to read the full report:


This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.


Source link

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Business