PVR Q2 net up 58% at Rs 142 mn

MUMBAI: Delhi-based multiplex major PVR has reported a second-quarter consolidated net profit of Rs 142 million (after minority interest), a 58 per cent jump from the year-ago period.

Total income, however, saw a marginal (2.7 per cent) increase to Rs 1.39 billion, from Rs 1.35 billion.

Meanwhile, total expenditure of the company stood at Rs 1.18 billon, same as the year-ago period. The cost on account of film distributor share went up from Rs 274.6 million to Rs 347.1 million.

The movie exhibition segment saw a profit of Rs 212.5 million, from Rs 154.2 million a year ago. Revenue from the segment jumped 20.6 percent to Rs 1.28 billion, as against Rs 1.06 billion in thecorresponding quarter of the previous fiscal.

PVR has deployed Rs 3.62 billion on the movie exhibition segment as of 30 September.

From the movie production and distribution business, however, the revenue came down to Rs 83.8 million (from Rs 290.2 million), while PVR‘s profit from the segment was at Rs 11.3 million, compared to Rs 8.7 million a year ago. Capital deployed on the segment was Rs 1.1 billion.

PVR joint MD Sanjeev Kumar Bijli said, "The revenues and profitability in Q2, 2011-12 has shown a robust growth over the corresponding period of previous year. The good results is a function of company‘s long term location strategy to partner in best mall developments in the country, its unique design philosophy, strong customer focus and a unique brand positioning . This is demonstrated by the fact that PVR‘s average revenue per screen across its cinema circuit is almost 30 per cent higher than our competition. Infect, in area of advertising and sponsorship revenue our total revenues for 2010-11 were more than the revenues of next three operators put together."

"The company is on a strong growth trajectory and is adding 57 new screens this fiscal year. The company‘s subsidiary PVR bluO is also setting up bowling centres across the country with three new centres with 74 lanes slated to open in current financial year," Bijli added.

During the quarter under review, the company added three new multiplex
properties with 16 screens at Udaipur, Surat and Delhi. It also opened its new flagship bowling centre with 26 lanes at Ambience Mall, Vasant Kunj.

Latest Reads
Ajay Kapoor's experience will benefit our film venture: Wadhawan Group

The Rajesh Wadhawan Group, with interest in finance, real estate, hospitality, and sports, is now entering Bollywood with their foray into film production. The Kapil Wadhawan and Dheeraj Wadhawan-led group's new venture will take shape under the able leadership of T- series’ former director Ajay...

Movies Hindi
Mobile promotions Fox 'Ae Dil...' on UCWeb

Promotion on the go for 'Ae Dil..." Alibaba Mobile Business Group’s UCWeb India charted a new success story through its tie-up with Fox Star Studios, India, Dharma Productions and Sony Music India to promote the highly anticipated Diwali release, Ae Dil Hai Mushkil.

Movies Hindi
Box Office: A disastrous week for film exhibitors

It has been another disastrous week at the cinema halls and the wait is now on for Diwali week releases. All the releases failed to find audiences and faced the no-audience-no-show situation. The films released a week earlier were faced with the similar fate as well.

Movies Hindi
Govt says 'no mushkil' to 'Ae Dil' even as Pak industry supports Indian content ban

NEW DELHI: Although Indian is almost completely banned in Pakistan now courtesy PEMRA, in India, it became a Catch-22: give in or give up. But, ultimately Karan Johar managed to get an assurance that ‘Ae Dil hai Mushkil’ would be released as scheduled on 28 October, after the Maharashtra chief...

Movies Hindi
Sony Pictures signs three-film deal with international producers

MUMBAI: Sony Pictures International Productions (SPIP) has inked a deal with Mexico and Los Angeles-based producers Eduardo Cisneros and Jason Shuman. With this multi-picture development, the producers will write and produce three new feature films with the studio.

Movies Hollywood
31st October: Genuine effort wasted

Rather late in the day, 31stOctober is a film about the Sikh genocide of 1984 in Delhi in the aftermath of assassination of the then prime minister of India Indira Gandhi. She was killed by her security guards, who happened to be Sikh. That assassination, again, is attributed to the anger of the...

Movies Hindi
TV premiere of Daniel Craig's 'Spectre' on 23 October

Movies Now is all geared up to air the television premiere of the Daniel Craig starrer James Bond movie Spectre. With Diwali round the corner, the movie will hit the TV screens on 23 October at 1 pm and a repeat telecast at 9 pm.

Movies Hollywood
Jio MAMI: Royal Stag Barrel joins Star to promote short films

The Jio MAMI 18th Mumbai Film Festival with Star has managed to involve Royal Stag Barrel Select Large Short Films to provide a platform within the short films category.

Movies Hindi
India against obstructing Fawad film; Maharashtra assures 'protection'

Even as PEMRA's ban on Indian content looms, the Indian Government has made it clear that it will not create any impediment for the release of producer-director Karan Johar’s 'Ae Dil Hai Mushkil’ starring popular Pakistani actor Fawad Khan, among others.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories