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“There is a 4-6 quarter transition where we see pricing on advertising coming back to pre-Covid levels because one cannot forget that advertising is a big driver for profitability.”

Its total income during October-December 2021 stood at Rs 2,695.89 crore, compared with Rs 2,416.93 crore in the year-ago period

The BSE Sensex eventually closed 143.20 points or 0.24 per cent lower at 58,644.82. The NSE Nifty50 was down 43.90 points or 0.25 per cent at 17,516.30. Losses in Reliance Industries and select bank stocks were partly offset by buying in HDFC Bank, L&T and Asian Paints.

The board declared an interim dividend of Rs 45 per share for FY22, payable to those who hold shares on record date fixed by the company, i.e. Saturday, February 12.

In the international market, gold was trading higher at $1,810 per ounce and silver was flat at $22.55 per ounce.

“We also believe that some of the consumption stocks will do well. We are not that constructive on the traditional cyclicals.”

Its revenue from operations rose 43.87 per cent to Rs 2,987.10 crore during the quarter under review, against Rs 2,076.19 crore in the corresponding period of the previous fiscal.

The Nifty IT index closed 0.07 per cent up at 35080.1.

Its net interest margin (NIM), a key profitability parameter, was lower at 2.27 percent against 2.58 percent a year earlier. Its net interest income (NII) fell 19 per cent at Rs 3,407 crore against Rs 4,190 crore.

The current provision of sub-section (8) of section 94 of the Act contains an anti-avoidance provision to deal with bonus stripping transactions. The provision, as of now, is applicable only to mutual fund units. But in this Budget, the government has made an amendment to the definition to include even securities or ‘units’.