| MUMBAI:
Multiplex chain PVR has posted net profit of Rs 105.6 million for the fiscal ended
31 March 2007, up 93 per cent overa year ago period. Revenue
at Rs 1.72 billion was up 62 per cent over the previous year. PVR
added 31 more screens during the year, taking its screen count to 82. It opened
new cinemas at Mumbai (Juhu and Mulund), Indore, Lucknow, Gurgaon, Aurangabad,
Latur and Baroda. During
the year, the company has also received entertainment tax exemption for its multiplexes
at Lucknow, Indore, Mulund, Aurangabad and Latur, which commenced operations in
2006-07. PVR
chairman and MD Ajay Bijli said, "We entertained about 14.7 million customers
in our cinemas during 2006-2007 as against 8.78 million customers in the previous
year, a growth of 68 per cent. The company has shown healthy growth in its revenues
and profits, driven by growth in existing cinemas as well growth from new cinemas.
We intend to
grow horizontally and vertically by strengthening our presence in film exhibition
and distribution business besides entering into innovative retail entertainment
concepts." For
expanding geographically, PVR has signed MOUs/ agreements with various developers
for setting up multiplex projects across the country. These multiplexes have been
selected only after undertaking a rigorous assessment of the revenue potential
by the in-house project selection team at PVR. "About
50 multiplex screens are presently under various stages of construction and fit-outs
and are expected to commence operations over next 12 months. In addition to the
above, the company has about 150 screens signed up for multiplex development across
the country," says Bijli. | 
