Media, Entertainment Q3 Results Preview - A Quarter Of Mixed Bag: Prabhudas Lilladher

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Media: After a blockbuster Q2 FY24, industry wide box office collections declined 22% QoQ to ~Rs 25.6 billion in Q3 FY24E. Box office collections were weaker on sequential basis due to-high base,paucity of content in first 45 days andcricket world cup. Accordingly, we expect PVR-Inox Ltd. to report modest performance with footfalls of 36 million (~24.5% occupancy) and pre-Indian Accounting Standard Ebitda margin of 11.1%. On broadcasting side, ZEE Entertainment Enterprises Ltd.’s performance is likely to be impacted by continued weakness in ad-environment exacerbated by cricket world cup (shift of ad-spends from GEC towards sports). We expect domestic ad-revenues to decline 2.3% YoY to Rs 9.9 billion with an Ebitda margin of 10.1%. Entertainment: Levy of GST on full bet value, persistent headwinds in Kiddopia and ad-tech business coupled with modest performance from Nodwin is likely to slow down the growth trajectory for Nazara Technologies Ltd. However, we expect Ebitda margin to improve to 14.6% due to better cost control. Post recent fund raise, Nazara has cash balance of Rs 13.3 billion and we believe capital allocation decisions from hereon will be key to re-rating. Top pick: Despite the delay in merger, ZEE Entertainment remains our preferred pick in the media and entertainment space as we expect positive outcome from ongoing negotiations..Click on the attachment to read the full report:.Chemical Sector Q3 Results Preview - Revival Likely But Timing Is Uncertain: Nirmal Bang.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Media, Entertainment Q3 Results Preview - A Quarter Of Mixed Bag: Prabhudas Lilladher

Despite the delay in merger, Zee Entertainment remains our preferred pick in the media and entertainment space as we expect positive outcome from ongoing negotiations.

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