PVR bleeds in Q3 amid 17% rise in revenue

MUMBAI: Delhi-based multiplex major PVR has reported a third-quarter consolidated net loss of Rs 132.6 million compared to a net profit of Rs 66.7 million a year ago.

Total income jumped 16.91 per cent to Rs 1.34 billion, from Rs 1.14 million in the year-ago period, as the premium multiplex operator hiked average ticket prices by 13 per cent.

“The average ticket prices across the comparable properties in the quarter under review grew by Rs 20 (13% growth) over the same quarter last year due to increase in ticket pricing in various properties across our cinema circuit,” the company said.
The multiplex chain entertained approximately 5.2 million patrons during the quarter under review, marginally higher by 2 per cent over Q3 FY’10. Occupancies witnessed a fall from 36.8 per cent in Q3 FY10 to 27.1 per cent in the quarter under review.

Total expenditure of the company rose 34.45 per cent to Rs 1.37 billion, as against Rs 1.02 billion a year ago.

The movie exhibition segment saw a net profit of Rs 80.6 million in the quarter as compared to a net profit of Rs 85.9 million in the earlier year. The revenue from the segment was Rs 1.03 billion (from Rs 985.1 million).

As of 31 December, PVR operates 142 screens across 33 properties cities. The company is expected to commence operations in 24 new screens over the next four months.

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