 "PVR records 71% increase in PAT for Q2 FY14")
Multiplex chain PVR Limited's consolidated revenues for quarter ended 30 September 2013 stood at Rs 367.1 crores up 89% as compared to Rs. 193.6 crores during the corresponding period of last year. Consolidated profit after tax (PAT) was Rs 27.7 crores as against of Rs 16.1 crores in the September quarter last year, up by 71%.
The company's consolidated EBITDA for the quarter was Rs. 76.1 crores (EBITDA Margin 20.7%) as against Rs 37.5 crores (EBITDA Margin 19.4%) in the same period last year, up by 103%.
PVR's food and beverage revenues continue to grow as they clocked an increase of 25% over corresponding quarter of previous year. The company in a statement attributed the increase to the success of the various strategic initiatives it has taken. The ponsorship revenues for PVR grew by 42% growth in sponsorship revenues reflected strong continuing positive performance year on year.
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The footfalls increased by 8% to 16.6 mn in the quarter while average ticket prices rose by 4% as against same period last year. This despite the fact that there were only 2 big release Chennai express & Bhaag Milka Bhaag in the quarter as compared to 5 Big films (Ek Tha Tiger, Barfi, Bol Bachan, Dark Knight & Amazing Spiderman) a year-ago.
Ajay Bijli, chairman cum managing director, PVR Ltd said, “The strength of the film line up for the second half coupled with our solid first six months performance underpins our confidence that we are on track with our plans for the full year. We have maintained the position as the leading multiplex player in India and in this quarter we will surpass an important milestone of 400 screens in India.”
PVR intends to add approx 90 screens in FY 2013-14. During the first six months it has added 9 properties with 50 screens across various cities and now has a network of 398 screens spread over 92 properties in 37 cities across the country.