Movies

Cinemax Q3 net bleeds as expenses surge 48%

MUMBAI: Multiplex chain Cinemax India has sunk in losses in the three-month period ended 31 December as its expenses jumped 47.65 per cent.


Cinemax posted a consolidated net loss of Rs 10.8 million for the third quarter compared to a net profit of Rs 40.9 million.


Cinemax‘s net income from operations grew 33.4 per cent to Rs 765.7 million, as against Rs 574 million in the corresponding period of the previous fiscal.


Expenditure climbed from Rs 511.4 million in year ago period to Rs 755.4 million in the third quarter of this fiscal. The film distributor‘s share went up 43 per cent to Rs 223.9 million in the quarter under review.


Meanwhile, the profit from operations (before other income, interest and exceptional items) came down to Rs 10.3 million, as against a profit of Rs 62.6 million.


Revenue from the theatrical exhibition and entertainment segment rose to Rs 878.7 million, up from Rs 647.9 million in the corresponding quarter of the previous fiscal. However, Ebit from the segment went down to Rs 7.1 million (compared to Rs 53.6 million).


The company has employed a capital of Rs 2.44 billion as of 31 December on the segment.

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