Inox Q1 net profit at Rs 35.2 million

MUMBAI: Inox Leisure has posted a first-quarter net profit of Rs 35.2 million, reversing the earlier-year‘s net loss of Rs 40.1 million, as movie supplies have improved though box office successes are still a rare commodity.

Inox reported a 132 per cent jump in revenue to Rs 803.6 million, from Rs 345.1 million a year ago. The comparison would not be accurate as the first quarter of the previous fiscal was hit by a prolonged row with film producers who froze fresh content during this period.

The company‘s expenses stood at Rs 727.7 million, from Rs 400.5 million in the year-ago period.

Inox Leisure director Deepak Asher said, “The first quarter results reinstate Inox’s firm ability to sustain a robust growth momentum and a profit leadership position in the multiplex industry. Going forward in the quarters ahead, with some interesting content lined-up and with our focus to create India’s largest network of state-of-the-art multiplexes across the country, we hope to maintain the growth momentum, deliver a world class film viewing experience to our patrons, and enhance value to our stakeholders.”

The Ebitda for the quarter was at Rs 130.1 million, from a negative of Rs 16.7 million a year ago.

During the quarter under review, Inox had 35 properties under its brand with 132 screens.

The multiplex business segment had an operating profit of Rs 74.2 million, compared to an operating loss of Rs 55.8 million in the first quarter of FY‘10. Revenue from this segment was Rs 803.9 million, up from Rs 344.4 million. The capital deployed in the segment is Rs 3.65 billion.

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