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Stock Report
Pritish Nandy Communications announces Q4 FY2022 results
Posted On : 2022-05-09 09:28:16( TIMEZONE : IST )
Pritish Nandy Communications (PNC) announced its Q4 and year-end results after its board meeting on Friday.
The Company which returned to production in Q2 after several quarters were interrupted by pandemic lockdowns, continues to show improved results. Like Q2 and Q3, Q4 showed a strong upward trend in revenue, 245% higher than last year.
The year-end results showed an annual growth in revenue of 425%. Losses sharply reduced from Rs 5.70 crore to Rs 34 lakh.
Margins continue to be under pressure, said Pritish Nandy, Chainnan of the Board, because ofa sharp rise in production costs in the post-pandemic period. This includes expenses incurred on safety protocols that continue to be followed during filming in India and overseas and the rise in travel costs. Demand for the Company's content, both series and films, however, continues to be on a steady upward trend.
On May 13, the Mumbai chapter of the much-watched international show Modern Love, produced by PNC in association with Amazon Prime Yideo and the New York Times, will globally premiere on Amazon Prime Video across 240 nations and territories. The show features films by six of India's leading directors and has an impressive cast of actors.
PNC has completed the principal photography of Season 3 of its popular, international Emmy-nominated Original series for Amazon Prime Video, Four More Shots Please! which was interrupted by lockdowns during the pandemic. The show is likely to release later this year, also across 240 nations and territories.
Several new PNC shows and films are in development. The Company has signed a strategic collaboration with the world's leading streaming platform, details of which will rollout later in the year.
Shares of Pritish Nandy Communications Limited was last trading in BSE at Rs. 46.85 as compared to the previous close of Rs. 48.25. The total number of shares traded during the day was 1148 in over 10 trades.
The stock hit an intraday high of Rs. 49.90 and intraday low of 46.45. The net turnover during the day was Rs. 54304.00.
