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PVR Q3 net slips on weak film performance & low turnout

PVR Q3 net slips on weak film performance & low turnout
PTI
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First Published: Fri, Jan 30 2009. 08 18 PM IST
Updated: Fri, Jan 30 2009. 08 18 PM IST
New Delhi: Multiplex chain PVR Ltd on Friday reported a 68.09% fall in its profit after tax at Rs1.95 crore in the quarter ended 31 December 2008 compared with Rs6.11 crore in the year-ago period.
The total revenue of the company for the quarter under review grew by 16.71% at Rs76.60 crore against Rs65.63 crore during the corresponding quarter previous year, PVR said in a statement.
“The current year has been a challenging period for the exhibition industry, considering the weaker film performance in comparison with similar period last year,” PVR Ltd chairman and managing director Ajay Bijli said.
Growing concerns about safety in the wake of last year’s terrorist attack in Mumbai has affected the overall patron turnout of the company’s cinemas, he added.
For April-December 2008, the company’s profit after tax stood at Rs13.76 crore compared to Rs18.36 crore during the corresponding period previous year.
In the nine-month period, the total revenue of the company was at Rs216.72 crore as against Rs183.43 crore for the same period last fiscal.
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First Published: Fri, Jan 30 2009. 08 18 PM IST