Nov 01, 2017 11:03 AM IST | Source: Moneycontrol.com
Buy INOX Leisure, target Rs 332; strong ad revenue growth drive margin expansion: CLSA
CLSA said that strong advertisement revenue growth drove margin expansion, while ad revenue growth significantly outperforms that of PVR.
ByMoneycontrol News
Moneycontrol News
Shares of INOX Leisure rose nearly 8 percent intraday Wednesday on the back of strong September quarter numbers.
The company's consolidated profit rose 648 percent at Rs 11.68 crore against Rs 1.56 crore in the same quarter in a year ago period.
CLSA said that strong advertisement revenue growth drove margin expansion, while ad revenue growth significantly outperforms that of PVR.
Meanwhile, marquee property additions & advertiser portfolio churn should help ad revenue growth.
The firm has lifted FY18/19 EBITDA estimates 2percent /5 percent.
It has maintained buy call on the stock and raised target price to Rs 332 from Rs 330 per share.
At 10:58 hrs INOX Leisure was quoting at Rs 260.35, up Rs 16.00, or 6.55 percent on the BSE.
Posted by Rakesh Patil
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