Prime Focus Ltd consolidated net loss of Rs8.51cr in Q1FY19, vs net profit of Rs3.06cr in Q1FY18 :

The company’s consolidated revenue stood at Rs608.47cr, up 18.49% yoy and 3.64% qoq.

Aug 15, 2018 05:08 IST India Infoline Research Team

Prime Focus Ltd Q1FY19

Consolidated Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 608.47 18.5
EBITDA 82.59 [10.0]
EBITDA Margin (%) 13.57 [430]
Net Loss (adjusted) 8.51 NA
***EBITDA margin change is bps

Prime Focus Ltd’s revenue grew by 18.5% yoy and 3.6% qoq to Rs608cr. EBITDA stood at Rs83cr, down 10% yoy and 12.8% qoq. EBITDA margin contracted by 430bps yoy and 256bps qoq to 13.57%. Adjusted Net loss of the company stood at Rs9cr vs. Adjusted Net profit of Rs3cr yoy and Adjusted Net loss of Rs62cr qoq.

• Revenue growth powered by strong growth of 29.7% yoy in Creative Services. Creative and Tech/Tech Enabled Services contributed ~81% and ~12% to revenues respectively.
• Employee cost stood at 64.9% of sales vs. 60% yoy impacting the EBITDA margin.
• Other expenses stood at Rs16.6% of sales vs. 17.7% yoy.
• Depreciation and amortisation expenses grew by 11.3% yoy to Rs72cr.
• Finance cost grew by 29.4% yoy to Rs49cr impacting the profitability of the company. Finance charges include Rs6cr on account of change in accounting treatment towards redemption premium on NCDs. Finance charges also include accounting Non-cash charges towards fair valuation of derivative instruments – Rs8cr and amortization component of processing fees towards debt financing amounting to Rs4cr.

Technical View:

Prime Focus Ltd is currently trading at Rs. 74.65, down by 2.65 points or 3.43% from its previous closing of Rs. 77.30 on the BSE.
The scrip opened at Rs. 74.10 and has touched a high and low of Rs. 75.25 and Rs. 74.10 respectively. So far 19,787 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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