Film entertainment company, PVR has announced its unaudited stand-alone and consolidated financial results for the quarter ended 31st December, 2011. The consolidated revenues for Q3, 2011-12 were Rs 138.96 crore as compared to Rs. 133.60 crore during Q3, 2010-11, up by 4 percent. PAT for Q3, 2011-12 was Rs 8.92 crore compared a loss to Rs 13.26 crore in Q3, 2010-11.
Commenting on the results and performance, Ajay Bijli, Chairman and Managing Director, PVR, said: “The revenues and occupancies in Q3, 2011-12 have shown a robust growth over the corresponding period of previous year. The good results are 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. This is demonstrated by the fact that PVR’s average revenue per screen across its cinema circuit is almost 25 percent higher than our competition.”
Bijli further added that the company is on a strong growth path and plans to add 50 new screens in the coming 6 months. The company’s subsidiary PVR bluO is also setting up bowling centers across the country with 3 new centers with 64 lanes slated to open in the next 6 months.
The exhibition business showed a momentous performance in Q3, 2011-12. The exhibition business revenue for Q3, 2011-12 was Rs 125.84 crore as compared to Rs 103.87 crore in Q3, 2010-11, up by 21 percent. EBITDA for Q3, 2011-12 was Rs 23.41 crore as compared to Rs 21.98 crore in Q3, 2010-11, up by 7 percent. PAT for the exhibition biz during Q3, 2011-12 was Rs 8.18 crore as against Rs 8.04 crore in the same period a year earlier.
In continuation of the positive operating momentum, the company established in Q2, FY 2011-12. The exhibition business in Q3, FY 2011-12 exhibited promising growth in revenues led by 28 percent growth in footfalls. During the quarter, the company had 6.6 million footfalls in its cinemas. Admissions revenue jumped 15 percent. Food and beverage revenues grew 40 percent during the quarter under review. Advertising and sponsorship revenues have shown a growth of 26 percent over corresponding period of last year.
PVR’s service offerings include low-cost multi-screen cinemas in tier II cities called “PVR Talkies” at one end to premium cinemas in tier I cities called “PVR Premiere” on the other. It also includes a film distribution and production business through its subsidiary, PVR Pictures.
-IndiaRetailing Bureau
Must Read
