PVR Q1 net profit down 1.6% at Rs43 crore
PVR’s consolidated net sales were up 17.19% to Rs559.96 crore during the quarter under review as against Rs477.81 crore in the year-ago period
New Delhi: Multiplex operator PVR Ltd on Friday reported a decline of 1.60% in consolidated net profit to Rs.42.81 crore for the first quarter ended 30 June.
It had posted a net profit of Rs.Rs.43.51 crore in April-June period a year-ago, PVR said in a BSE filing. PVR’s consolidated net sales were up 17.19% to Rs.559.96 crore during the quarter under review as against Rs.477.81 crore in the year-ago period. Its revenue from movie exhibition was up 40.91% to Rs.532.45 crore in the first quarter of 2016-17 as against Rs.377.85 crore in the corresponding period of the previous fiscal.
PVR’s earning from movie production and distribution was up 15.37% to Rs.26.27 crore during the quarter as against Rs.22.77 crore a year-ago. For ‘Others’ segment, which includes bowling, gaming and restaurants, earning was up 12.60% to Rs.20.37 crore as against Rs.18.09 crore in the first quarter last fiscal.
Meanwhile, in a separate filing PVR informed that it would raise Rs.300 crore from the markets by issuing non-convertible debentures (NCDs). Its board, in a meeting held on Friday, has approved to issue NCDs of Rs.50 crore and has also asked “for the approval of members in the ensuing annual general meeting issue of non-convertible debentures for a sum not exceeding Rs.250 crore”.
Shares of PVR were trading at Rs.1,147.25, up 0.38% from previous close in the afternoon session.