Stock under Rs 50: Shares of this entertainment company surged over 19 per cent post stellar results!

The company reported a 497.55 per cent jump in revenue in Q4FY23 over Q4FY22.

Today, one of the Top Gainers on BSE, shares of Eros International Media Ltd, jumped over 19 per cent to an intraday high of Rs 30.20 per share. The shares of the company saw a spurt in volume by more than 4 times on BSE. At 11:45 am, shares of the company were trading at Rs 28.18 per share, up 11.16 per cent.

According to consolidated Quarterly Results, the company saw a 497.55 per cent jump in revenues QoQ, which rose from Rs 68.12 crore in Q4FY22 to Rs 407.05 crore in Q4FY23. The company reported a negative profit after tax (PAT) for Q4FY23 - from a net profit of Rs 19.66 crore in Q4FY22 to a loss of Rs 6.44 crore in Q4FY23.

According to consolidated annual results, the company saw an 82.41 per cent growth in revenues YoY, which rose to Rs 680.83 crore in FY23 compared to FY22. The profit after tax (PAT) was reported negative at Rs 119.78 crore (Loss YoY).

Earlier in March, the company intimated to the exchanges that it executed a binding agreement for an itemized asset sale with regard to its music assets (including all rights, titles, and interests related thereto) to a third party.

Eros International Media Ltd (BSE: 533261, NSE: EROSMEDIA) is a leading global entertainment company focused on the production, acquisition, and distribution of Indian films. In addition to film production, Eros International has expanded its operations to encompass digital platforms and content distribution. The company has embraced technological advancements and leveraged digital platforms to reach a wider audience globally.

With a global presence, Eros International has successfully forged strategic partnerships and collaborations with international studios, distributors, and content platforms. The stock is up by 29 per cent in just 1 year and over 60 per cent in 3 years.