India's Shemaroo Entertainment falls on Q2 loss

Shemaroo Entertainment

18/10/2024 05:32

** Shares of Shemaroo Entertainment  SHEM.NS  fall as much
as 7% to 165.50 rupees
    ** Co reports Q2 consolidated net loss of 262.2 mln rupees 
($3 mln) vs year-ago profit of 48.8 mln rupees; rev from ops
drops 18.5% Y/Y
    ** Traditional media segment, which forms about 60% of co's
Q2 revenue, falls ~33% Y/Y
    ** "Broadcast advertising demand remains sluggish, putting
further pressure on the traditional revenue streams," co says in
investor presentation
    ** Stock last down 4.4%, trimming YTD gains to 6.1%

($1 = 84.0725 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))