On Thursday, the share price of this leading VFX maker surged by 20% to an intraday high of ₹566.45 apiece following the company’s strong Q3 results, with a remarkable growth of net profit of 95% year-on-year.
At 11:30 a.m., Phantom Digital Effects Ltd shares were quoted at ₹531.40 per share, up 12.57 percent from the previous close price on the exchange. The company has a market capitalization of ₹725 crores.
Phantom Digital Effects Ltd’s total revenue has increased by 102 percent year-on-year, from ₹12.92 crore in Q3FY23 to ₹26.06 crore in Q3FY24. Similarly, during the same period, net profit rose by 95% from ₹4 crore to ₹7.80 crore.
In comparison to the preceding quarter, Total revenue increased by 49.5 percent, from ₹17.42 crores in Q2FY24 to ₹26.06 crores in Q3FY24. Additionally, net profit surged by 79% from ₹4.35 crores to ₹7.80 crores during this timeframe, as reported in the company’s exchange filing.
Phantom Digital Effects Ltd is a full-fledged creative VFX firm that produces high-end visual effects solutions for commercials, films, and web series throughout the world. The company is headquartered in India with offices in the United States and Canada.
The company has designed visual effects for prominent Hollywood and Bollywood films such as RRR, Joker, Avengers, Bahubali, and many more.
Phantom Digital has been authorized as an Amazon-approved VFX studio, and the firm is delivering its varied services to Amazon’s Production as well as Walt Disney. Phantom Digital Effects has signed strategic expansions in India and globally, including a groundbreaking deal with a major OTT platform worth ₹1,200 million over four years.
The stock has registered multibagger gains of 165 percent in a year. For example, If a shareholder invested ₹1 lakh in the firm a year ago, it would be worth ₹2.65 lakhs in a year.
The company’s international revenue mix increased from 26% in H1 FY23 to 32% in H1 FY24. The company is using AI to reduce manual efforts and improve productivity, particularly in areas such as rotoscopy and concept development.
The company established a wholly-owned subsidiary in London, UK to cater to diverse business segments such as visual effects and animation.
Written by Omkar Chitnis
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