Movies

Inox Q3 net skids 40% to Rs 52.5 mn

MUMBAI: Inox Leisure, which ran into an open fight with Reliance MediaWorks over its acquisition of multiplex chain Fame, has seen a 40 per cent drop in its third-quarter net profit due to a rise in expenses.


Inox posted a net profit of Rs 52.5 million for the three months ended December 2100 compared to Rs 87.4 million in the earlier year.


Revenue jumped 19.77 per cent to Rs 1.01 billion, from Rs 8.43 million in the third quarter of Fy‘10. However, it was offset by a 32 per cent increase in expenses, which climbed t0 Rs 904.4 million in the quarter under review, from Rs 684.4 million in the year-ago period.


Inox had 38 properties with 144 screens under its brand, till 31 December 2010.


The multiplex business segment had an operating profit of Rs 105.6 million, down from Rs 157.9 million in the year-ago period. Revenue from this segment was Rs 1.01 billion, up from Rs 842.3 million.


The capital deployed in the segment is Rs 3.76 billion.


Meanwhile, in the nine-month period ended 31 December, the net profit rose 20 per cent to Rs 120.9 million (from Rs 100.3 million). Revenue grew 45 per cent to 2.70 billion (from Rs 1.86 billion), while Ebitda surged 36 per cent to Rs 423.2 million.


Inox Leisure director Deepak Asher said, “The opening of new properties, and the good line up of movies in Hindi, English and regional languages contributed to our commendable performance. We hope to maintain the growth momentum in the forthcoming quarters and deliver a world class film viewing experience to our patrons, and enhance value to our stakeholders.”

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