BackPVR posts a net loss of ₹35.6 crore in March quarter
Consolidated revenue declines 5% to `301.5 crore from `316.3 crore a year ago
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New Delhi: India’s largest movie exhibitor PVR Ltd reported a consolidated net loss of ₹ 35.6 crore in the three months ended 31 March, compared with a profit of ₹ 0.74 crore in the same period a year ago, the company said on Friday. Consolidated revenue, too, declined 5% to ₹ 301.5 crore, from ₹ 316.3 crore in the year-ago period.
During January-March, the company recorded 12.2 million footfalls in its cinemas, down 12% from the corresponding quarter of the previous year, largely due to the muted performance of films and the cricket World Cup (in February-March) drawing people to TV. In spite of the drop in footfalls, the average ticket price was up 5% to ₹ 168.
For the full fiscal, PVR posted a net profit of ₹ 12.76 crore, down 77% from ₹ 56 crore in fiscal 2014. The consolidated revenue for FY15 was ₹ 1,486 crore, compared with ₹ 1,359 in FY 2014, up 9%.
“While the Q4 performance in FY 2015 was tepid, consumer sentiment is coming back in Q1 of FY 2015. The box office has been very strong with movies like Fast & Furious 7, Avengers: Age Of Ultron, Gabbar, Piku and Tanu Weds Manu Returns leading the pack. Going forward, we have Dil Dhadakne Do, Jurassic World & ABCD-2 releasing in June, followed by Bajrangi Bhaijaan, a Salman Khan-starrer, and Drishyam in July. The content pipeline looks pretty promising and, hopefully, the worst in terms of content should be behind us and we expect a blockbuster 2015-16," said Ajay Bijli, chairman and managing director, PVR.
Food and beverage revenue for FY15 showed strong growth over the previous fiscal, up 17% to ₹ 350 crore. Sponsorship income, at ₹ 169 crore, too, showed a robust growth of 18% over the previous year.
During the year, the company opened nine new properties with 50 screens and currently operates a network of 467 screens, spread over 105 properties in 43 cities across the country. The company intends to add 60-70 screens in FY16.
On Friday, shares of PVR closed at ₹ 665.30 on BSE, up 1.9%, even as the benchmark Sensex closed at 27,828.44, up 1.17%.
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