ENIL - On track - Centrum

ENIL posted Q3FY13 results in line with expectations on the back of 15% YoY growth on ad revenues led by volumes and strong traction in activation business. Operating profit de-grew by mere 2.7% on the back of margins declining by 652bps YoY due to higher marketing cost while PAT was up by 2.9% due to high other income as the company had Rs2.8bn in cash.

We maintain BUY rating on the stock.

Source : Equity Bulls

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