Touchwood Entertainment Ltd., the leading event management company announced its results for the quarter ended September 30, 2021. Total Revenue of Rs11.76cr for the quarter ended September 30, 2021.

“Stellar Growth in revenue from operations in 2nd Quarter in comparison with 1st Quarter. Growth driving out of the new initiatives undertaken by the Company,” it said in a filing.

EBITDA of Rs1.06cr, indicating recovery from negative EBITDA in the last quarter. Profit Before Tax (PBT) of Rs85.19 lakhs. Profit After Tax (PAT) of Rs71.55 lakhs indicating a profit margin of 6%.

“Achieved positive EBITDA in the 2nd Quarter in comparison with 1st Quarter.  Company has turned into net profit in 2nd quarter as compare to net loss reported in 1st Quarter,” it added.

The company stock was bullish on Tuesday and hit upper band of Rs116.75 per piece up Rs5.55 or 4.99% on the BSE at around 11.11 am.

“During COVID-19, to ensure business continuity, we were focused on incorporating ideas and initiatives keeping in mind various measures as directed by the Government of India to fight this pandemic and come out stronger. We are glad to be able to build a virtual platform that brings us closer to the public where we can interact with them, impart knowledge and have healthy discussions,” Manjit Singh, Chairman and Managing Director, said.

“We have been fortunate enough to be backed by a team of very motivated and dedicated Individuals who know their job and are result oriented. They are the heart and soul of this organization, and it is in their display of passion and grit through their work that allows me to be confident of a brighter future for Touchwood. Let me say that notwithstanding the uncertainty of the external environment, we are confident that our business will continue to surpass benchmarks and achieve new milestones while making headways in newer opportunities,” Manjit Singh added.