PVR reports higher revenues in Q3 FY12

PAT for Q3, 2011-12 remains Rs 8.92 crores compared a loss to Rs 13.26 crores in the corresponding quarter of last year

BestMediaInfo Bureau | Delhi | January 31, 2012

PVR Limited has announced its unaudited standalone and consolidated financial results for the quarter ended 31st Dec, 2011.

The consolidated revenues for Q3, 2011-12 were Rs 138.96 crores as compared to Rs. 133.60 crores during Q3, 2010-11, up by 4%. PAT for Q3, 2011-12 was Rs 8.92 crores compared a loss to Rs 13.26 crores in Q3, 2010-11.

The exhibition business showed a momentous performance in Q3, 2011-12. The Exhibition business revenues for Q3, 2011-12 was Rs 125.84 crores as compared to Rs 103.87 crores in Q3, 2010-11, up by 21%. EBITDA for Q3, 2011-12 was Rs. 23.41 crores as compared to Rs 21.98 crores in Q3, 2010-11, up by 7%. PAT for the Exhibition biz during Q3, 2011-12 was Rs. 8.18 crores as against Rs 8.04 crores in the same period a year earlier.

In continuation of the positive operating momentum we established in Q2, FY 2011-12, The Exhibition business in Q3, FY 2011-12 has been able to exhibit promising growth in revenues led by 28% growth in footfalls. During the quarter the company had 6.6 million footfalls in its cinemas. Admissions revenue, the company's biggest top-line contributor, jumped 15%. Food and beverage revenues has shown a growth of 40% during the quarter under review. Advertising and sponsorship revenues have shown a healthy growth of 26% over corresponding period of last year.

Commenting on the results and performance, Ajay Bijli, Chairman cum Managing Director, PVR LTD, said, the revenues and occupancies in Q3, 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 that PVR's average revenue per screen across its cinema circuit is almost 25% higher than our competition. We are encouraged by the robust growth in Footfalls and remain optimistic regarding the upcoming holiday film slate.

Bollywood@BestMediaInfo.com

Info@BestMediaInfo.com