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Media Q3 Earnings Preview - A Quarter Of Recovery: ICICI Direct

Media Q3 Earnings Preview - A Quarter Of Recovery: ICICI Direct

<div class="paragraphs"><p>A technician points towards television monitors in a control room. (Photographer: Kostas Tsironis/Bloomberg)</p></div>
A technician points towards television monitors in a control room. (Photographer: Kostas Tsironis/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Q3 FY22 started on a strong note for multiplexes as major release like Sooryavanshi, Spiderman, etc, fared well. However, the second half of December saw weakness as releases saw a relatively tepid response as the Omicron scare surfaced. In terms of Q3 performance, we expect footfalls at ~9 million and ~13 million for Inox Lesiure Ltd. and PVR Ltd. which would be ~53% and ~50% of pre-Covid levels of Q3 FY20, respectively.

For broadcasters Q3 FY22 is likely to drive festive led ad growth on a benign base of Q3 FY21. The news segment is also expected to remain stable with healthy ad growth.

Click on the attachment to read the full report:

ICICI Direct Media Q3FY22 Earnings Preview.pdf

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