Inox FY 2009 net dips 8% to Rs 243.4 million

MUMBAI: Multiplex operator Inox Leisure Ltd has announced a fall of 7.78 per cent in its net profit for the year ended 31 March 2009.

While announcing its audited results for the fiscal, Inox said that the net profit for the company stood at Rs 243.4 million as compared to Rs 263.9 million in the previous fiscal.

Revenue rose 9.39 per cent to Rs 2.26 billion, compared to Rs 2.06 billon a year ago.

Operating profit for the same period stood at Rs 347.5 million, a dip of 13.51 per cent from previous fiscal’s Rs 401.8 million.

The company has launched four new properties in the financial year 2009; Inox Faridabad, Inox Nagpur, Inox Bangalore and Inox Burdwan taking its tally of total screens in operation from 76 to 91. INOX Hyderabad, launched in May 2009 takes it total tally of multiplexes to 27 with 97 screens in 20 cities across India.

Meanwhile the company said in a release that the content pipeline for 2008-2009 was comparatively weaker as compared to the year 2007-2008.

In the segment wise results, the company earned revenue of Rs 2.25 billion from multiplex business while Rs 15.2 million came from film distribution. In the previous fiscal, the company posted a revenue of Rs 2.05 billion from its multiplex operations while film distribution contributed to Rs 61.6 million.

Oerating profit from multiplex segment fell to Rs 250.9 million as against Rs 315.5 million in the previous year. In film distribution business, the operating loss increased to Rs 28.6 million as against Rs 3.2 million in the last fiscal.

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