PVR Q4 profit at Rs 47 crore; strong box office biz, GST cut aid performance

Shares of PVR closed at Rs 1,713.45 on BSE, down 2.65 per cent from its previous close.

Multiplex chain operator PVR May 10 reported a consolidated profit of Rs 47 crore for the fourth quarter ended March, a growth of 80 percent year-on-year (YoY) over the Rs 26 crore profit posted in the same period last year.

The market leader in the multiplex space posted consolidated revenue for the quarter ended March 31, 2019 at Rs 846 crore as compared to Rs 592 crore during the corresponding period of last year, a growth of 43 percent.

Consolidated EBITDA for the quarter was Rs 169 crore as against Rs 102 crore in the same period last year, a growth of 66 percent.

EBITDA margins for the quarter increased 280 bps from 17.2 percent during the corresponding period last year to 20 percent during the current period.

Growth in the fourth quarter comes on the back of strong box office performance, reduction in goods and services tax (GST) (for tickets priced below Rs 100 from 18 percent to 12 percent) and the acquisition of SPI Cinemas, India’s leading cinema exhibitor to strengthen its presence in India.

Consolidated profit for the year grew 47 percent YoY to Rs 184 crore from Rs 125 crore.

For the financial year ending March 31, 2019, the company reported consolidated revenue at Rs 3,119 crore as compared to Rs 2,365 crore during the corresponding period of last year, witnessing a growth of 32 percent.

Consolidated EBITDA for the year was Rs 619 crore as against Rs 433 crore in the same period last year, witnessing a growth of 43 percent.

EBITDA margins for the year expanded 160 basis points over last year to 19.9 percent.

“We crossed the landmark of 750 screens and served almost 100 million patrons, a feat which placed us amongst top 10 cinema chains globally in terms of admits, said Ajay Bijli, chairman and managing director, PVR Ltd.

Shares of PVR closed at Rs 1,713.45 on BSE, down 2.65 per cent from its previous close.

In an earlier interview, a PVR spokesperson had said the company has plans to make more properties equipped with assistive equipment to cater to a wider audience group for the next fiscal. “In FY20, SPI Cinemas will be merged with PVR Cinemas and we will be able to see the full year performance of SPI cinemas,” the spokesperson had further said.

Source- Moneycontrol.

The post PVR Q4 profit at Rs 47 crore; strong box office biz, GST cut aid performance appeared first on GST Station.



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