Cosmo Films had hit a 52-week high yesterday and today too, it hit another new high at Rs.488.95. But profit booking has come in at this level and the stock is down currently in the red with volumes jumping up over 3 times.
The company, as expected, posted a good set of earnings for Q1FY21. Mainly on the back of lower costs, the company recorded a 69% (YoY) jump in consolidated net profit at Rs.47 crore.
This jump in net profit was despite a 11% decline in net revenue at Rs.481 crore. A 17% decline in total expenses helped change the trend of the numbers.
Its EBITDA came in at Rs 93 crore on the back of higher speciality sales (up by 20%) and improved operating margins.
Pent-up demand from previous quarter and supplies opening up in phased manner led to a favourable demand supply scenario and improved margins.