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PVR consolidated revenues up 43pc

Posted on Jan 30, 07:41PM | IBNS

Mumbai, Jan 30 : Leading film entertainment company PVR Limited on Wednesday announced its unaudited standalone and consolidated financial results for the quarter ended Dec 31, 2012.

The consolidated revenues for quarter ended Dec 31, 2012 was Rs 202.44 crores as compared to Rs. 141.32 crores during the corresponding period of last year, up by 43pc .

Consolidated EBITDA for the quarter was Rs. 35.43 crores as against Rs 26.38 crores in the same period last year, up by 34pc . PAT for the quarter was Rs 8.89 crores.

The exhibition business (PVR Standalone) showed a strong performance in the quarter under review.

The standalone revenues in the quarter ended Dec 31, 2012 increased to Rs 187.71 crores from Rs 128.20 crores in the same period last year, up by 46pc .

EBITDA for the quarter was Rs. 34.52 crores as compared to Rs 24.10 crores in corresponding period of last year, up by 43pc . PAT for the quarter was Rs. 14.22 crores (includes onetime profit of Rs 3.33 crores).

The Exhibition business showed a growth of 47pc in the overall revenues driven by strong box office performance and food and beverage revenues.

During the quarter the company had 9 million footfalls in its cinemas, up by 38pc as compared to corresponding quarter of previous year.

Food and beverage revenues grew by 49pc over corresponding quarter of previous year.

Sponsorship revenues also showed a stellar growth of 23pc over corresponding quarter of previous year.

Commenting on the results and performance, Ajay Bijli, Chairman cum Managing Director, PVR Ltd said, "We are extremely pleased that 2012 is shaping up as a great year at the box office. The revenues and profitability in the quarter and nine months has shown a robust growth over the same period last year.

"The good results is also 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."

On 8th Jan, 2013, the Company completed the acquisition of 69.27pc stake in Cinemax India Limited from its erstwhile promoters.

In compliance with SEBI Takeover Code, the Company has announced an open offer to shareholders of Cinemax India Limited for an additional 26pc stake, and the tendering period shall commence on Feb 4, 2013.

Consequent to the said acquisition, Cinemax India Limited has now become a subsidiary of PVR Limited. On a combined basis, PVR and Cinemax will have a network of 351 screens spread over 85 properties in 36 cities across the country.