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PVR Q2 2011 revenues up 3 per cent

PAT at Rs 14.30 crores compared to Rs 9.73 crores in Q2, 2010-11, up by 47 per cent

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BestMediaInfo Bureau
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PVR Q2 2011 revenues up 3 per cent

PAT at Rs 14.30 crores compared to Rs 9.73 crores in Q2, 2010-11, up by 47 per cent

BestMediaInfo Bureau | Delhi | October 24, 2011

publive-imagePVR Limited has announced its unaudited standalone and consolidated financial results for the quarter ended 30th Sept, 2011.

The consolidated revenues for Q2, 2011-12 were Rs 138.64 crores as compared to Rs. 135 crores during Q2, 2010-11, up by 3 per cent. PAT for Q2, 2011-12 was Rs 14.30 crores compared to Rs 9.73 crores in Q2, 2010-11, up by 47 per cent.

The exhibition business showed a stellar performance in Q2, 2011-12. The exhibition business revenues increased from Rs 106.19 crores in Q2, 2010-11 to Rs 128.02 crores in Q2, 2011-12, up by 21 per cent. EBITDA for Q2, 2011-12 was Rs. 28.42 crores as compared to Rs 22.19 crores in Q2, 2010-11, up by 28 per cent. PAT for the Exhibition biz during Q2, 2011-12 was Rs. 12.27 crores as against Rs 7.96 crores during corresponding period of previous year, up by 54 per cent.

The exhibition business has been able to demonstrate promising growth in revenues led by 23 per cent growth in footfalls. During the quarter the company had 7.1 million footfalls in its cinemas clocking an average occupancy of 36 per cent. Food and beverage revenues also grew by 25 per cent during the quarter under review. Advertising and sponsorship revenues have shown a stellar growth of 47 per cent over corresponding period of last year.

Commenting on the results and performance, Sanjeev Kumar, Joint Managing Director, PVR LTD, said, “The revenues and profitability in Q2, 2011-12 has shown a robust growth over the corresponding period of previous year. The good results is a function of company's long term location strategy to partner in best mall developments in the country, its unique design philosophy, strong customer focus and a unique brand positioning . This is demonstrated by the fact thatPVR's average revenue per screen across its cinema circuit is almost 30 per cent higher than our competition. Infact, in area of advertising and sponsorship revenue our total revenues for 2010-11 were more than the revenues of next 3 operators put together.The company is on a strong growth trajectory and is adding 57 new screens this fiscal year. The company's subsidiary PVR bluO is also setting up bowling centers across the country with 3 new centers with 74 lanes slated to open in current financial year.”

During the quarter under review the company added 3 new multiplex properties with 16 screens at Udaipur, Surat and Delhi. It also opened its new flagship bowling center with 26 lanes at Ambience Mall, Vasant Kunj.

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