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Q1-2015: PVR posts higher q-o-q revenue: F&B grows 20%: Board moots Rs 500 crore issue

BENGALURU:  Last fiscal (FY-2014), Indian motion picture exhibition, production and distribution house PVR Limited (PVR) entered the Rs 1000 crore club by posting operating income (TIO) of Rs 1351.23 crore for the year. In Q1-2015, the company posted an 8.1 per cent increase in consolidated TIO at Rs 362.26 crore as compared to the year ago TIO of Rs 335.19 crore and 15.3 per cent more than the Rs 314.23 crore in the immediate trailing quarter (Q4-2014).

 

Note: Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million.

 

Though the company reported a more than 10-fold (10.35 times) PAT in Q1-2015 at Rs 7.66 crore as compared to the Rs 0.74 crore in Q4-2014, PVR’s Q1-2015 PAT was 43.7 per cent lower than the Rs 13.6 crore in Q1-2014.

 

PVR reported just 0.4 per cent q-o-q increase in footfalls in its cinemas in Q1-2015 at 1.52 crore, because it says that there were no big releases during the quarter. It however says that food & beverages (F&B) revenues showed a strong growth of 20 per cent over corresponding quarter of previous year on account of success of the various strategic initiatives taken by the company.

 

The company has also informed the bourses that the board of directors of the company at its meeting held on 31 July 2014, inter alia, has approved the issue of securities up to Rs 500 crore through Qualified Institutional Placement (QIP) subject to approval of the members in forthcoming Annual General Meeting of the Company.

 

PVR chairman Ajay Bijli said, “Early Q2 industry box office results have been very strong with movies Ek Villain & Kick, we are optimistic regarding box office prospects for the remaining part of the year which underpins our confidence that we are on track with our plans for the full year. Our differentiated strategy, heightened brand awareness, and guest engagement tactics will further enhance the customer experience in 2014 & beyond.”

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