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Stock Report
Pritish Nandy Communications reports Q2FY22 results
Posted On : 2021-11-13 20:13:45( TIMEZONE : IST )
Pritish Nandy Communications, which reported its inability to continue regular filming during the pandemic months, returned to full time production in Q2 and in this one quarter its turnover exceeded the entire turnover of the previous year. The previous year included the making of a short anthology film and an interrupted production schedule.
The Q2 results showed 647% growth in revenue over last year's Q2. The H1 results showed a 713% growth in revenue over last year's H1. There was also profit after several quarters of losses. If work can continue at the current pace, uninterrupted by the pandemic, the year is likely to show good results, said Pritish Nandy. Chainnan of the Board. He, however, warned that margins will be under pressure as long as pandemic related costs continue to burden project costs.
The Company is currently completing its most popular series for Amazon Prime Video, where filming was interrupted by repeated lockdowns. Q2 saw the India schedules completed successfully. Only a short overseas schedule is left which will be done as soon as international travel restrictions are lifted. The Company has also commenced principal photography for an international series in association with the world's leading newspaper, also for the Amazon Prime Video platform. This will feature the work of six leading Indian directors.
Several other new shows and films are being developed for clients across the world. Work on these began during the lockdowns and one or more of them are likely to go into production in the coming year.
Shares of Pritish Nandy Communications Limited was last trading in BSE at Rs. 46.65 as compared to the previous close of Rs. 48.50. The total number of shares traded during the day was 4540 in over 94 trades.
The stock hit an intraday high of Rs. 49.55 and intraday low of 46.30. The net turnover during the day was Rs. 214387.00.
