Millennium Post

PVR 2nd quarter profit dips 67% to RS 9.2 crore

Multiplex operator PVR Ltd on Friday reported a decline of 66.60 per cent in its consolidated net profit at Rs 9.20 crore for the quarter ended 30 September, due to muted performance of films at the box office. The company had reported a consolidated net profit of Rs 27.55 crore for the July-September quarter of last fiscal.

PVR's total consolidated income from operations during the second quarter increased 9.41 per cent to Rs 400.20 crore as against Rs 334.45 crore in the same period a year ago, the company said in a BSE filing.

During the quarter, the company had 15.7 million footfalls in its cinemas (that was) down by 5 per cent as compared to corresponding quarter of previous year largely due to muted performance of films at box office. In spite of the drop in footfalls, the average ticket price was up by 6 per cent,’ the company said in a statement.

Over the outlook, PVR Ltd Joint MD Sanjeev Kumar Bijli said:’ Early Q3 industry box office results have been very strong with movies Bang Bang, Haider & Happy New Year. We are optimistic regarding box office prospects for the remaining part of the year’.
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