Cinemax India PAT at Rs 5.19 crore for Q1-2014

BENGALURU: Indian movie exhibition chain Cinemax India Limited (Cinemax) reported a PAT of Rs 5.19 crore for Q1-2014. The exhibitor had reported a loss of Rs 3.56 crore during the preceding quarter (Q4-2013).

Let us take a look at Cinemax's other figures for Q1-2014

Cinemax's Q1-2014 net consolidated operating income of Rs 108.50 crore showing a 12.1 per cent growth as compared to Q1-2013 net consolidated revenues of Rs 96.76 crore for Q1-2013 and were 30.1 per cent higher than the Rs 85.39 crore reported during Q4-2013.

The company's consolidated expenses for Q1-2014 at Rs 91.17 crore were 12.25 per cent higher than the Rs 81.22 crore for Q1-2013 and 9.3 per cent more than the Rs 83.38 crore in Q4-2013.

A big chunk of the Cinmax's expenses is the Film Distributor's share. For Q1-2014, it paid Rs 30.64 crore (28.2 per cent of consolidated revenues for the quarter) as against Rs 26.50 crore (27.2 per cent of consolidated revenues for the quarter) for Q1-2013 and Rs 24.40 crore (29.3 per cent revenues for the quarter).

Cinemax's expenses towards rent for Q1-2014 at Rs 17.75 crore, though higher by 10.8 per cent as compared to the Rs 16.02 crore for Q1-2013, were 1.9 per cent lower than the Rs 18.09 crore paid in Q4-2013.

Also, repairs and maintenance, though a small part of the consolidated expenses, grew by almost 36 per cent in Q1-2014 to Rs 6.74 crore from Rs 4.96 crore in Q1-2013, but were lower by 7.3 per cent as compared to the Rs 7.23 crore in Q4-2013.

Last November, the promoters of Cinemax sold their entire stake of 69.27 per cent in the company to PVR Ltd for Rs 394.98 crore. The board of directors of PVR Limited, in a meeting held on 7 June 2013 have approved the merger of Cinemax and a wholly owned subsidiary Cine Hospitality Private Ltd., with PVR. Cinemax also said on the same day that its board approved "in-principle" the amalgamation of the company with PVR Ltd, the ultimate holding company.

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