PVR Q2 Profit Down 15% to 25 Crore

Multiplex chain operator PVR reported a 15.13 per cent decline in consolidated net profit at 24.72 crore for the quarter ended September 30.

The company had posted a net profit of 29.13 crore during the same period previous fiscal, PVR Ltd said in a regulatory filing.

Total income during the quarter under review fell 0.31 per cent at 559.52 crore as against 561.30 crore in the July-September quarter last fiscal.

“For 20 years, we have worked ardently to take India to the movies with new and innovative offerings like gold class, director’s cut, plush recliners, IMAX, 4DX, Playhouse, PXL, Dolby Atmos, VR Lounge, Vkaao to add more layers of excitement and joy to the cinematic experience of our customers,” PVR Ltd Chairman and Managing Director Ajay Bijli said.

Revenue from movie exhibition during the period stood at 532.19 crore compared to 516.46 crore in the year-ago period.

Box office revenues for the quarter were up by 7 per cent at 299.3 crore on yearly basis, the company said. Advertising revenues rose by 10 per cent year-on-year to 68.8 crore,
it added

Total expenses during the period were 520.23 crore as against
517.30 crore in the same period of previous fiscal.

PVR currently operates a network
of 600 screens spread over 131 properties in 51 cities across the country. The company intends to add approximately 65-70 screens in FY2017-18.

PVR shares were trading 1.49 per cent down at 1,396 on BSE.

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