PVR Sept-qtr net rises on tax breaks

PVR Sept-qtr net rises on tax breaks

New Delhi: Multiplex chain operator PVR Ltd said that its September-quarter profit rose 27%, helped by tax breaks and higher realisations on tickets.

PVR’s net profit for the quarter rose to Rs79.3 million from Rs62.5 million an year ago. Net sales for the quarter rose 26% to Rs784.2 million.

The firm’s screen count rose 29% to 101 during the quarter from an year ago. Average ticket prices also rose 13% to Rs140.

However, the average occupancy at comparable properties dropped from 44.8% to 36.7% as bomb blasts in New Delhi and threats during the quarter kept viewers away, it said in a statement.

About 44 of PVR’s 101 screens are located in New Delhi and its neighbouring areas.

Shares of the firm closed down 9.2% at Rs92.15 while the benchmark broader index closed down 10.96%.