Media, Education And Others - A Q3 Earnings Preview By Prabhudas Lilladher
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Prabhudas Lilladher Report
Multiplex - While multiplexes were allowed to open from October 15 with 50% capacity given lack of fresh content, footfalls are expected to be at sub-optimal levels in Q3 FY21.
Broadcasting - With original programming hours gradually reverting back to pre Covid-19 levels we expect strong recovery in ad-volumes and rates in Q3 FY21.
Travel and tourism - VIP Ltd.’s sales for the month of October was hovering at approximately 50% pre Covid-19 levels.
Radio - For our coverage universe, we expect a ~35-45% fall in top-line in Q3 FY21 (versus ~50-60% fall in Q2 FY21) as we expect recovery in ad-volumes as compared to the preceding quarter.
Education - Higher grade schools in some parts of Maharashtra are already open while schools in Gujarat are expected to open (for higher grades) around mid January.
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