MAM

FY-2015: Tepid box office, World Cup Cricket chop PVR profits

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/mam-images/2015/05/30/mam%20brands%20financial.jpg?itok=vbn8Z3uu

BENGALURU: Impacted by poor movie content and World Cup Cricket towards the end of FY-2015 (year ended 31 March, 2015, current year) Indian motion picture exhibition, production and distribution house PVR Limited reported just 23.1 per cent PAT at Rs 11.64 crore as compared the Rs 50.39 crore in FY-2014.

PVR, in its earnings release, says that there was a 12 per cent drop in the footfalls in Q4-2015 at 1.22 crore and that its entertained one per cent lesser patrons (5.92 crore) in FY-2015 and profit could have been lower but for strong performance of its Food and Beverages (F&B) revenues and Sponsorship income.

Note: 100,00,000 = 100 lakh = 10 million = 1 crore

All numbers are consolidated unless stated otherwise

The company’s Q4-2015 performance has been poor. PVR’s Movie Exhibition segment revenue dropped 4.3 per cent in Q4-2015 to Rs 271.40 crore as compared to the Rs 283.69 crore in Q4-2014 despite the company adding 50 more screens spread over nine properties in FY-2015. Also, Q4-2015 movie exhibition segment revenue was 30.9 per cent lower than the Rs 392.88 crore in the immediate trailing quarter. The movie exhibition segment has reported an operating loss of Rs 14.68 crore in Q4-2015 as compared to operating profits of Rs 18.99 crore of Rs 50.08 crore in Q4-2014 and Q3-2015 respectively. PVR’s movie exhibition revenue in FY-2015 at Rs 1370.31 crore was 9.1 per cent more than the Rs 1255.59 crore in FY-2014. The segment reported 28.2 per cent lower operating profit of Rs 88.23 crore in the current year as compared to the Rs 122.87 crore in FY-2014.

In Q4-2015, PVR’s net Total Income from Operations excluding other income (TIO) at Rs 299.55 crore was 4.5 per cent lower than the Rs 314.23 crore in the corresponding year ago quarter and 28.6 per cent lower than the Rs 419.71 crore in Q3-2015. TIO in FY-2015 at Rs 1481.34 crore was 9.6 per cent more than the Rs 1351.23 crore in FY-2014.

PVR reported a loss of Rs 35.56 crore in Q4-2015 as compared to PAT of Rs 0.74 crore in Q4-2014 and PAT of Rs 31.59 crore in the immediate trailing quarter.

PVR’s EBIDTA in FY-2015 also suffered on this account. EBIDTA including other income in the current year at Rs 209.67 crore (14.2 per cent margin) declined six per cent as compared to the Rs 222.99 (16.5 per cent margin) in FY-2014. EBIDTA including other income in Q4-2015 at Rs 12.71 crore (4.2 per cent margin) was almost a third (down 63.9 per cent) of the Rs 35.18 crore (11.2 per cent margin) and a little more than one seventh (15.3 per cent margin) of the EBIDTA including other expenses of Rs 82.23 crore (19.8 per cent margin) in the previous quarter.

Let us look at the other numbers reported by PVR

PVR’s Total Expenditure (TE) in FY-2015 at Rs 1393.11 crore (94 per cent of TIO) in FY-2015 was 13.2 per cent more than the Rs 1230.22 crore (91 per cent of TIO) in FY-2014. TE in Q4-2015 at Rs 314.12 crore (104.86 per cent of TIO) was 0.5 per cent lower than the Rs 315.58 crore (100.43 per cent of TIO) and 14.9 per cent lower than the Rs 369.33 crore (88 per cent of TIO) in Q3-2105.

The company’s Film Exhibition Cost in FY-2015 at Rs 342.18 crore (23.1 per cent of TIO) was 3.9 per cent more than the Rs 329.49 crore (24.4 per cent of TIO) in FY-2014. Film Exhibition Cost in Q4-2015 at Rs 62.96 crore (21 per cent of TIO) was 8.2 per cent lower than the Rs 68.6 crore (21.8 per cent of TIO) in Q4-2014 and 36.1 per cent lower than the Rs 98.49 crore (23.5 per cent of TIO) in the previous quarter.

PVR’s cost of Food and Beverages consumed (F&B cost) in FY-2015 at Rs 107.38 crore (7.2 per cent of TIO) was 16.3 per cent more than the Rs 92.31 crore (6.8 per cent of TIO) in FY-2015. F&B cost in Q4-2015 at Rs 21.05 crore (seven per cent of TIO) was 2.9 per cent lower than the Rs 21.67 crore (6.9 per cent of TIO) in Q4-2014 and 30 per cent less than the Rs 30.05 crore (7.2 per cent of TIO) in Q3-2015. PVR says that F&B revenues increased 17 per cent in FY-2015 as compared to FY-2014.

The company’s movie production segment (movie segment) in FY-2015 reported 35.9 per cent growth in revenue at Rs 51.23 crore as compared to the Rs 37.71 crore in FY-2014. Movie segment revenue in Q4-2015 at Rs 13.61 crore was 28.3 per cent lower than the Rs 18.99 crore in Q4-2014 and 14.9 per cent more than the Rs 11.85 crore in Q3-2015. The segment reported operating profit of Rs 2.74 crore as compared to an operating profit of Rs 0.90 crore in FY-2014. Operating profit of PVR’s movie production segment in Q4-2015 was Rs 1.54 crore as compared to an operating loss of Rs 0.56 crore in Q4-2014 and an operating profit of Rs 0.43 crore in Q3-2015.

PVR’s Others’ (including Bowling, gaming and restaurant services, etc) segment reported almost flat revenue (down 0.1 per cent) in FY-2015 at Rs 73.96 crore as compared to the Rs 74.02 crore in FY-2014. Revenue from ‘Others’ segment in Q4-2015 at Rs 17.27 crore was 9.9 per cent less than the Rs 19.16 crore in Q4-2014 and 9.1 per cent less than the Rs 19 crore in Q3-2015. The ‘Others’ segment reported slightly higher operating loss of Rs 2.80 crore in FY-2015 as compared to the Rs 2.63 crore in FY-2014. Operating loss of the segment in Q4-2015 at Rs 1.46 crore was higher than the operating loss of Rs 0.96 crore in Q4-2014 and the operating loss of Rs 0.13 crore in Q3-2015.

Assuring stakeholders of a better FY-2016, PVR chairman and managing director Ajay Bijli said, “While Q4-2015 performance stood tepid, with the consumer sentiment coming back Q1-2016 box office have been very strong with movies like Fast & Furious 7, Avengers, Gabbar, Piku and Tanu Weds Manu leading the pack. Going forward we have Dil Dhadakne Do, Jurassic World and ABCD-2 releasing in June followed by Bajrangi Bhaijaan, a Salman Khan starrer and Drishyam in July. The content pipeline looks pretty promising and hopefully the worst in terms of content should be behind us and we expect a blockbuster 2015-16.”

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/biber1.jpg?itok=5EGWg5jP
Bajaj to lighten up India leg of Beiber's Purpose World Tour

Bajaj Electricals Limited, India’s leading player in consumer durables, fans, lighting and Engineering Projects, has announced its partnership with Justin Beiber’s Purpose World Tour in India as its exclusive lighting partner.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/hemani-kapadia.jpg?itok=-MEIpwD9
SapientRazorfish & DigitasLBi have a new CEO - Himani Kapadia

SapientRazorfish, a part of Publicis Groupe HAS announced that Himani Kapadia has assumed the position of CEO, India, SapientRazorfish and DigitasLBi effective immediately. In this new role, Kapadia will be responsible for the growth of both businesses in India by leveraging the complimentary...

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/abhimanyu.jpg?itok=TxJTOv8f
MAN Trucks has a digital & creative Ottoedge in India

Ottoedge, a full service automotive marketing agency based in India has been assigned as the official Creative, Digital and Media agency by MAN Trucks India which is a 100% subsidiary of MAN Truck & Bus AG, Germany, the world’s leading manufacturer of trucks and buses. Ottoedge is the only...

MAM Media and Advertising Account
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/IAF.jpg?itok=nS39h1Ay
IAF campaign aims to break gender stereotypes

MUMBAI: The Indian Air Force is known to overcome barriers with courage, strength and valour. Which is why, when the whole country was debating the role of women in society, and brands were trying to create a conversation around it, the Indian Air Force took a historic step and showed the way...

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/coka.jpg?itok=Y680j-GW
New Coke leadership in India, S West Asia

The Coca-Cola Company and its Bottling Investments Group (BIG) announced today new leadership appointments for its India & South West Asia Business Unit and Hindustan Coca-Cola Bottling operations.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/Zee%20Yuva.jpg?itok=lGM85XIB
Social Samosa 'Gold' for Zee Yuva

MUMBAI: Zee Yuva creates huge buzz in the industry by winning ‘Gold’ award in Media and Entertainment category by one of India’s top media publishing Site-Social Samosa. Zee Yuva not only surpassed regional channels but also defeated the industry honchos to win the coveted gold. This was only...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/28/Baahubali-2_0.jpg?itok=M6MpHcfd
Baahubali-2 teams up with Hike Messenger & Camlin

MUMBAI: In a bid to magnify the overall output for the sequel of one of the greatest Indian Motion Picture and SS Rajamouli’s dream Project - Baahubali 2 -- The Conclusion, team Brand Street India and Why? Stay! Calm! have brought aboard two internationally viable brands Hike Messenger and Kuyuko...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/27/amar.jpg?itok=LasMkKo6
Interactive Avenues wins Great Indian Workplaces Award

Interactive Avenues, the full service Digital Agency of media agency conglomerate IPG Mediabrands India has won the inaugural edition of the Great Indian Workplaces Awards (GIWA) 2017.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/04/27/rajiv.jpg?itok=xRJ-aqAk
Bajaj Allianz maintains #AwkwardSilence on WATConsult idea

Bajaj Allianz General Insurance has launched a digital campaign titled “Awkward Silence”, to create awareness about the importance of having insurance amongst consumers.

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories