Movies

Shringar Cinemas Q3 net profit flat at Rs 36 million

Mumbai : Multiplex chain Shringar Cinemas today declared a net profit of Rs. 36 million for the third quarter of FY 2007-08 as against an equivalent amount during the same period last year.

Total revenues rose 37 per cent year-on-year at Rs 246 million against Rs 179.7 million in the corresponding quarter in the previous fiscal. The company‘s operating profit grew to Rs 62.4 million, up from Rs 57.4 million in the previous corresponding quarter.


With the recent addition of Fame Lido in Bangalore on 25 January, Shringar operates 14 properties with 48 screens. The company is fitting out eight multiplexes with 29 screens, spread out across cities like Kolkata, Bangalore, Panchkula, Pune, Dhanbad, Mumbai etc.


Further, the company expects to get a handover of an additional six multiplexes comprising 25 screens located in Bharuch, Baroda, Chandigarh, Ludhiana, Kalyan and Chennai, during Q 1/Q2 of the financial year 2009.


Announcing the results, Shringar Cinemas MD Shravan Shroff said, "We have continued our growth in the third quarter of this fiscal on the back of improved occupancies and higher realisation from tickets and F&B. We are in for exciting times with an additional eight sites (comprising of an additional 29 screens) which are expected to commercially open in the forthcoming three quarters."

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