Inox reports 40% YoY increase in Q3 net profit

MUMBAI: Multiplex chain Inox Leisure has announced a 40 per cent increase in net profit for the third quarter of the financial year 2006-2007 at Rs 48.3 million on revenues of Rs 428.3 million.

Net income in the corresponding quarter of the previous year stood at Rs 34.4 million.

Total income rose 45 per cent for the quarter; up from Rs. 294.8 million. Inox registered an Ebitda of Rs 101.3 million compared to Rs 82.5 million in the same quarter of the previous year, a growth of 23 per cent.

Over the nine-month period ending December, Inox registered strong growth with sales up 54 per cent from Rs. 802.9 million to Rs. 1233.1 million. Net Profit has also grown 53 per cent from Rs 131.6 million to Rs. 201.5 million, in the same time period.

The company also announced that the scheme of amalgamation of Calcutta Cine Private Limited (CCPL) into Inox Leisure Limited has been approved at a shareholders' meeting held on 4 January.

Inox has recently launched its property at Chennai in January 2007 taking its tally of multiplexes across India to 13, with 48 screens and 14,286 seats.

Commenting on the results, Deepak Asher, director - Inox Leisure said, "It has been a satisfying performance this quarter for Inox and things look very promising for the future with several new properties slated to open in the near term, as well as the acquisition of CCPL getting formalized."

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