PVR Q1 profit up 3% at Rs44.3 crore
New Delhi: PVR Ltd, which runs a chain of cinema halls, on Wednesday posted a June quarter net profit increase of 3% to Rs44.3 crore from Rs43.2 crore in the year-ago period, helped by advertising revenue.
Total revenue in the three months rose 13% from a year ago to Rs653 crore.
Box office revenue during the quarter increased by 11% to Rs343 crore. Revenue from advertising rose 31% to Rs67.4 crore from Rs51.5 crore. Revenue from the food and beverage segment increased 12% to Rs164.6 crore.
“For 20 years, we have worked ardently to take India to the movies with new and innovative offerings like Gold Class, Director’s Cut, Plush recliners, IMAX, 4DX, Playhouse, PXL, Dolby Atmos, VR Lounge, Vkaao to add more layers of excitement and joy to the cinematic experience of our customers. It has been the propeller of our growth engine over the years and it shall continue for years to come,” said Ajay Bijli, chairman and managing director, PVR.
In the fiscal first quarter, PVR added a total of eight screens (five in Chennai and three in Kota). The company operates a network of 587 screens across 51 cities in the country. The company intends to add 65-70 screens in the year to next March.