PVR announces results for the Quarter and Half-year Ended Sep 30, 2018

MUMBAI: PVR Limited today announced its audited standalone and consolidated financial results for the quarter ended 30th September, 2018

Consolidated revenues for quarter ended September, 2018 were Rs. 715 crores as compared to Rs. 560 crores during the corresponding period of last year, witnessing a robust growth of 28 per cent led by a 25% growth in admissions. Consolidated EBITDA for the quarter was Rs. 130 crores as against Rs. 96 crores in the same period last year, a growth of 36%. EBITDA margins for the quarter increased by 110 bps to 18.2%. Consolidated PAT for the quarter was Rs. 33 crores as compared to Rs. 25 crores during the corresponding period of last year, a growth of 31%.

The revenues for half-year ended September 2018 were Rs. 1,415 crores as compared to Rs. 1,213 crores during the corresponding period of last year, witnessing a growth of 17 per cent. Consolidated EBITDA for the half-year was Rs. 272 crores as against Rs. 227 crores in the same period last year, witnessing a growth of 20%. EBITDA margins for the half-year increased by 50 bps at 19.2%. Consolidated PAT for the half-year was Rs. 85 crores as compared to Rs. 70 crores during the corresponding period of last year, a growth of 22%.

During the current financial year, PVR added 34 new screens across 7 properties and now operates a network of 727 screens spread over 156 properties in 61 cities across the country. The company intends to add 99 screens in FY 18-19.

During this quarter, PVR completed acquisition of majority stake in SPI Cinemas, one of the largest cinema exhibitor in South India with presence in key markets of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Kerala and Mumbai. SPI Cinemas has a network of 76 screens (72 operational & 4 expected to commence operations soon) across 17 properties & 10 cities. Further during this quarter PVR also renewed its ticketing agreement with BookMyShow and Paytm for 3 years for a total upfront consideration of INR 410 crores.

Commenting on the results and performance, Mr. Ajay Bijli, Chairman cum Managing Director, PVR Ltd said “We are extremely pleased with the business performance in the current quarter with strong all round performance led by strong footfall growth. Our acquisition of SPI Cinemas in the current quarter has further cemented our leadership position in India. Post this acquisition PVR has become 7th largest cinema operator globally, serving over 100 million customers annually.

We will continue to innovate and find newer ways to provide our customers with unparalleled movie watching experience by introducing cutting edge technology, newer cinema formats and innovative customer engagement initiatives. Our introduction of PVR Onyx Screen in PVR ICON, Vasant Kunj, New Delhi, continued focus on building on our loyalty program PVR Privilege, initiatives such as seat cancellations are steps in that direction. We are extremely excited by the growth prospects of our business and will continue to work towards taking the business to the next level.

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