Shares of Adlabs Entertainment soared as much as 19.60 per cent on Friday on the back of higher trading volumes. On Thursday, Insync Capital Partners LLP bought 3,50,000 shares of the company, according to the data available with NSE. At 10.45 am, shares of the company were trading 14.67 per cent up at Rs 95.75. The scrip opened the day at Rs 97 and has touched a high and low of Rs 99.90 and Rs 94.80, respectively, in trade so far.
So far, around 5.80 lakh shares of Adlabs Entertainment exchanged hands on BSE, up 18.12 times, against the 2-week average of 32,000 shares.
For the latest quarter ended June 30, 2016, the company reported a net loss of Rs 19.23 crore, against net loss of Rs 15.52 crore in the corresponding quarter a year ago. Net sales of the company jumped by 7.24 per cent year-on-year to Rs 83.10 for the quarter under review against Rs 77.48 crore in the same quarter last fiscal. Operation profit of Adlabs Entertainment increased by 7.93 per cent year-on-year to Rs 30.47 crore.
In the past one year, shares of the company had underperformed benchmark indices. The scrip plunged 30.35 per cen to Rs 83.50 on September 22 from Rs 119.90 on the same day a year ago. On the other hand BSE Sensex gained 12.17 per cent during the same pierod.
Adlabs Entertainment owns and operates Adlabs Imagica. It is engaged in providing theme park, offering fun, action, entertainment, dining and shopping at a single location.