Movies

Multiplex strike scripts Adlabs' Q1 net loss

MUMBAI: Put to financial stress by the row with film producers, multiplex operators have posted dismal first-quarter performances. With PricewaterhouseCoopers estimating the total loss of the Indian cinema industry during the strike period - which consumed 80 per cent of the quarter - at Rs 3.5 billion, the listed multiplex companies are slipping into the red.

After Cinemax, which suffered a net loss of Rs 5.8 million for the quarter ended 30 June, the next to feel the pinch is Adlabs Films.


The Reliance ADAG company has posted a consolidated net loss of Rs 636.96 million for the quarter ended 30 June, as against a net profit of Rs 23.24 million a year ago.


The company has clarified that this quarter is not comparable with "any period" on account of the deadlock between the producers, distributors and exhibitors on several issues "due to which there were no new Hindi movie releases for 80 per cent period of the quarter."


Consolidated net revenue stood at Rs 1.05 billion, down 54.23 per cent. The company also posted negative EBITDA from operations at Rs 90 million for the quarter under review.


Adlabs curtailed its expenses by 34.78 per cent to Rs 1.48 billion, down from Rs 2.27 billion in the prior-year quarter.


Theatrical exhibition business suffered the worst blow with operating loss standing at Rs 298.88, compared to an operating profit of Rs 8.47 million in the first quarter of FY‘09. Revenue from this segment was Rs 708.73 million, down from Rs 776.86 million. The capital deployed in the segment is Rs 10.32 billion.


The film production and distribution segment took a hit in operating profit as it reduced to Rs 12.80 million, from Rs 109.16 million in the same quarter of the previous fiscal. Revenue dipped to Rs 70.81 million (from Rs 693.02 million).


In the film facilities business, operating profit declined to Rs 15.08 million, from Rs 100.46 in the prior year, due to paucity of film releases. The revenue in the segment fell marginally to Rs 288.89 million, as against Rs 299.09 million in the year-ago period. The segment employed a capital of Rs 3.33 billion.


Buoyed by a sharp recovery in July with movie screenings returning, Adlabs expects the momentum to continue for the rest of the fiscal. Says Adlabs CEO Anil Arjun, "It is very encouraging that movies released thereafter (post strike) have seen a strong box office. The line-up of movies for the remaining year is strong and we except the performance of July to be maintained through the year. Adlabs has made strategic investments and scaled up business operations. We expect to benefit from the strong momentum in the film and media industry."

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/22/eros.jpg?itok=6I1N1Gbv
Eros Worldwide pays off $40 million

Eros Worldwide FZ LLC, the promoter of Eros International Media Limited has informed the bourses today that it has completed sale of 11,716,850 shares of EIML between April to August 2017 amounting to over $40 million to reduce its revolving credit facility. The company says that with the paydown...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/22/Vivek_Agnihotri-Khalid_Mohamed.jpg?itok=oJuDw4dk
IFFI Preview Committee includes film certification panel members

NEW DELHI: A 40-member preview committee with Vivek Agnihotri as the convenor has been set up to continue the process of shortlisting of films for the International Film Festival of India 2017 being held in November this year.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/bareilly-ki-barfi1.jpg?itok=KMVjQaPd
Akshay Kumar's versatility saves holiday week from dullness

The flow of new films seems to have tapered down. In the weeks when new films are not meant to be released like during IPL or exams etc, a bunch of small, inconsequential films swarm the cinemas. Even if one or two of them had a merit, they stood no chance because of high admission rates, odd show...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/21/Jahnu%20Barua%20and%20Nagesh%20Kukunoor.jpg?itok=75fi7EBl
IFFI 2017: Noted filmmakers to head steering & technical panels

NEW DELHI: Renowned filmmakers Jahnu Barua and Nagesh Kukunoor will head the steering and technical committees respectively for the International Film Festival of India 2017 being held in November this year.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/partition.jpg?itok=QOJ3qGOO
Partition: 1947 -- Attempt to create nostalgia

Suddenly, the flavour of the season as far as filmmaking goes, seems to be India and its history, distant as well as recent. Some films, like Indu Sarkar (the recent film about the emergency era), are made to please the people in high places instead of the moviegoer while the latest one, Partition...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/18/berfi.jpg?itok=Mmq4sK1g
Bareilly Ki Barfi -- Insipid

Small town Uttar Pradesh love stories are the in thing, quite a few having worked at the box office to varied degrees of success. Last week’s release Toilet- Ek Prem Katha, was one such film. The advantage with basing a film in this region is that the subject can take all the liberties it wants,...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/14/toilet.jpg?itok=84ONtQGI
Toilet -- Ek Prem Katha may spring a surprise

Unlikely as it may seem, Akshay Kumar’s Toilet Ek Prem Katha may be on its way to spring a surprise at the box office. In fact, the process started from day two after its release as the film’s collections took huge jump on Saturday followed by another leap on Sunday.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/14/CBFC.jpg?itok=fbBSkWwU
CBFC reconstituted, majority from film & theatre fraternity

NEW DELHI: After bringing in the adman and lyricist Prasoon Joshi and showing filmmaker Pahlaj Nihalani the door, the Central Board of Film Certification has been reconstituted -- with the entry of the actress Vidya Balan and the renowned filmmaker T S Nagabharana, among other. The 12 members...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/08/11/toilet-ek--prem.jpg?itok=IKFMDtmW
Toilet: Ek Prem Katha ... Part fun, part sermon

With little choice of genres left for films after themes like family social, horror and mythology were taken away by TV channels, filmmakers have to find variations in what they are left with: romance, action and comedy.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories