PVR Q3 net profit falls to Rs8.89 crore1 min read . Updated: 30 Jan 2013, 09:19 PM IST
Exhibition business revenue grows 46%, driven by strong box-office performances, food and beverages
New Delhi: PVR Ltd, which runs a chain of cinema halls, said net profit fell to Rs8.89 crore for the quarter ended 31 December from Rs8.92 crore in the year-ago period.
Revenue rose 43% to Rs202.44 crore.
The exhibition business grew 46 % in overall revenue, driven by strong box-office performances and food and beverages revenue, the company said. Footfalls in its movie halls rose 38% to 9 million. Food and beverage revenue rose 49% to Rs37.5 crore.
“The revenues and profitability in the quarter and nine months has shown a robust growth over the same period last year. The good results is also a function of company’s long term location strategy to partner in best mall developments in the country, its unique design philosophy, strong customer focus and a unique brand positioning," said Ajay Bijli, chairman and managing director, PVR Cinemas.
PVR added 17 new screens in this quarter. The company operates 351 screens across the country.