Entertainment Network soars 14%, nears 52-week high on improved earnings

Thus far in March, the stock has outperformed the market by surging 21% after CRISIL Ratings reaffirmed its ratings on the bank facilities

Shares of Entertainment Network (India) soared 14 per cent to Rs 214.75 on the BSE in Thursday's intra-day trade on the back of heavy volumes. The stock of the company, which operates India's FM radio channel Radio Mirchi, traded close to its 52-week high of Rs 226.95 hit on August 2, 2021.

For October-December quarter (Q3FY22), ENIL had reported 70 per cent year-on-year (YoY) jump in its earnings before interest, taxes, depreciation, and amortization (ebitda) to Rs 35.6 crore on tight cost control measures. The company posted profit after tax (PAT) of Rs 11 crore against loss of Rs