PVR numbers up on higher ticket price in third quarter

BENGALURU: Despite lower admits and occupancy during the quarter ended 31 December 2017 (Q3 2018, the quarter under review), Indian entertainment and exhibition company PVR Ltd (PVR) reported higher revenue due to higher ticket prices. In its investor presentation, the company reported 2.8 per cent year-on-year (yoy) drop in admits during Q3 2018 at 1.74 crore as compared with Rs 1.79 crore in Q2 2017 and a yoy decline in occupancy to 29.1 per cent from 32 per cent. The company reported an increase in average ticket price per show to Rs 212 during the quarter under review from Rs 199 during the corresponding year ago quarter. PVR says that the top-five movies contributed 50 per cent to the gross box office in Q3 2018 as against 52 per cent in Q3 2017. The occupancy of top-five movies in Q3 2018 was 37 per cent as against 41 per cent in Q3 2017.

PVR’s revenue from operations increased 5 per cent yoy in Q3 2018 to Rs 557.25 crore from Rs 530.88 crore. Total Income increased 3.4 per cent yoy to Rs 560.46 crore in Q3 2018 from Rs542.02 crore. The company says that other operating income in Q3 2017 included government subsidy of Rs 8.61 crore provided by various state governments. In the quarter under review, this component has not been accounted for on account of lack of clarity on refund mechanism for the tax exemptions under the new GST regime.

PVR’s EBIDTA (including other income) increased 13.7 per cent yoy during the quarter under review to Rs 103.55 crore (18.8 per cent margin of total revenue) from Rs 91.10 crore (16.8 per cent margin of Total revenue). Net profit after tax (PAT) increased 24 per cent yoy in Q3 2018 to Rs 29.16 crore from Rs 23,52 crore. Total comprehensive income during the quarter under review increased 20.8 per cent yoy to Rs 28.87 crore from Rs 23.89 crore.

Let us look at the other numbers reported by PVR

PVR reports revenue from two segments–movie exhibition and others. The movie exhibition segment saw 6.9 per cent yoy increase in operating revenue to Rs 546.01 crore from Rs 510.94 crore. The segment had 17.4 per cent yoy increase in operating results at Rs 41.44 crore from Rs 35.27 crore. Others segment revenue saw 51.9 per cent yoy decline in revenue to Rs 17.85 crore from Rs 37.08 crore. Others segment operating profit grew 220.8 per cent to Rs 3.08 crore from Rs 0.96 crore during corresponding year ago quarter.

PVR’s total expenditure during the quarter under review was up by 1.9 per cent yoy at Rs 515.55 crore as compared to Rs 505.77 crore. Finance cost was up 3.8 per cent yoy to Rs 21.17 crore in Q3 2018 from Rs 20.40 crore.

Movie exhibition cost in Q3 2018 increased 13.4 per cent yoy to Rs 132.28 crore from Rs 116.69 crore. Cost of consumption of food and beverages in the quarter rose by 9.3 per cent yoy to Rs 37.90 crore from Rs 34.66 crore.

Employee benefits expense in Q3 2018 increased by 8 per cent yoy to Rs 62.17 crore from Rs 57.57 crore. Rent expenses during the quarter were almost flat (increased by 0.2 per cent) yoy to Rs 99.356 crore from Rs 99.13 crore. Other expenses in Q2 2018 declined by 12.4 per cent yoy to Rs 125.21 crore from Rs 142.87 crore.

Latest Reads
BookMyShow sells over 3.5 million tickets for Avengers: Infinity War; contributes close to 45% to its opening weekend collection in India

Avengers: Infinity War set new records on BookMyShow as it became the first Hollywood film to sell an unprecedented 12 tickets a second when the bookings were at its peak on the weekend. BookMyShow has so far sold over 3.5 million tickets for this mega blockbuster and has contributed close to 45...

Movies Hollywood
Higher numbers push up financials; 'Padmaavat' top grosser for PVR

BENGALURU: Higher box office, food and beverages (F&B) and sponsorship revenues, higher occupancy, higher average ticket prices (ATP) have helped push up Indian exhibitor PVR Ltd’s (PVR) overall numbers for the quarter and year ended 31 March 2018 (Q4-2018, quarter under review, FY-2018, year...

Movies Hindi
World IP Day celebration in Delhi and Mumbai

MUMBAI: A range of stakeholders from the local screen community united to stage a number of events in celebration of World Intellectual Property (IP) Day. This year’s theme campaigns celebrate the brilliance, ingenuity and courage of women who are driving change in the world and shaping our common...

Movies Hollywood
Zee Cinema's marketing mania for the world tv premiere of 'Fukrey Returns' on 1st April at 8 PM

The Fukra boys Hunny, Choocha, Zafar and Lali get on with their lives after successfully getting Bholi Punjaban arrested. But they are in for a shock when she returns early from prison and tries to seek revenge. The second installment of the Fukrey franchise, Fukrey Returns which earned over 100...

Movies Hindi
Eros International's Bajrangi Bhaijaan grosses over Rs.169.17 crores (USD 25.95 million) in first 10 days of release

Eros International Media Ltd, a leading global film company in the Indian film entertainment industry, announced Producer Salman Khan Film’s Bajrangi Bhaijaan has collected over Rs. 160 crores within ten days of its release in China. More than two years since it opened in India, Bajrangi Bhaijaan...

Movies Hindi
'Federation of Western India Cine Employees' conducts a successful conclave with 22 crafts union’s association

Mumbai: The Federation of Western India Cine Employees (FWICE), the nodal body for all cine employees hosted a formal get-together and benevolence meeting with the leaders of the 22 crafts union’s associations affiliated to it on 7th March 2018 at Pathare Prabhu Hall, Andheri (West), Mumbai.FWICE...

Movies Hindi
New York Film Academy announces expansion in India to keep pace with growth of the indian film industry as well as digital media & entertainment genres

New York Film Academy (NYFA) is one of the leading film schools of the world. It was founded on the philosophy that "learning by doing" combined with best industry practices is more valuable than years of theoretical study for filmmakers and actors. This educational model allows students to...

Movies Hindi
UTV action packs in more power for fans

Home to a wide-range of high-octane movies across Hollywood, Bollywood, Asian and Regional cinema, UTV ACTION is the go-to linear channel offering uninterrupted dhamakedar entertainment to film aficionados. Now, the channel is all set to offer 100 plus new, adrenaline-rushing titles to its robust...

Movies Hindi
Why Padmaavat in 3D almost didn't happen

​​Fans can’t stop raving about the 3D version of Padmaavat and how it drew them right into the world of Queen Padmavati. However, it is a little known fact that director Sanjay Leela Bhansali had long been considering the idea of releasing his films in 3D. “We wanted to try 3D with Guzaarish and...

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories