PVR consolidated Q2 net up 13% to Rs 161.4 mn

MUMBAI: PVR‘s consolidated net profit rose 12.86 per cent to Rs 161.4 million for the quarter ended 30 September from Rs 143 million a year ago.

The film exhibition and distribution firm‘s net income from operations increased 36.5 per cent to Rs 1.89 billion in the second quarter from Rs 1.39 billion a year ago. PVR‘s movie exhibition business contributed Rs 1.76 billion to net income, while movie production and distribution contributed Rs 72.1 million.

Consolidated Ebitda for the second quarter was Rs 375.2 million, up 15 per cent from Rs 326.6 million a year ago.

PVR chairman and MD Ajay Bijli said, "We are extremely pleased that 2012 is shaping up as a great year at the box office. The revenues and profitability in the quarter and half year has shown a robust growth over the same period last year."

During the first half of the year the company added six new multiplexes with 31 screens at Jalandhar, Ujjain, Ludhiana, Nagpur, Bilaspur and Pune. The company now operates 44 properties with 197 screens in 27 cities across the country.

The company has significant expansion plans and intends to add another 51 screens in the remainder of the fiscal.

"We have a significant screen rollout this year and are opening our flagship cinemas in Kurla, Mumbai (8 screens), Orion Mall, Bangalore (11 screens), Mysore (4 screens) which are all expected to open in the next few days. We are also launching our 1st IMAX screen in Bangalore with “Skyfall” on 1st Nov, 2012," he added.

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