 "PVR hits record high")
PVR has hit a record high of Rs 907, up 3% on the BSE in early morning trade, extending its 5% gain in past two trading sessions, after reporting lower consolidated net loss at Rs 10 crore for the fourth quarter ended March 31, 2016 (Q4FY16) compared to the same quarter last fiscal.
The company, a leading multiplex operator, had posted a net loss of Rs 36 crore in the corresponding quarter of the previous financial year 2014-15.
Net sales during the quarter grew 38% year on year at Rs 413 crore from Rs 300 crore in a year ago quarter. Ebitda (earnings before interest, taxes, depreciation and amortization) jumped more than four-fold at Rs 53 crore in Q4FY16 as against Rs 13 crore in a year ago quarter.
PVR reported a ten-fold increase in profit after tax to Rs 119 crore for FY16 from Rs 12 crore in FY15.
The company on Tuesday announced that it has executed an amendment agreement with DLF Utilities for acquisition of the cinema exhibition business of DUL (which is operated under the brand name of “DT Cinemas”) on a slump sale basis for a revised consideration of Rs 433 crore.
The amendment agreement provides for exclusion of DT Savitri (1 screen) and DT Saket (6 screens) from the aforementioned transaction. Subject to satisfaction of customary conditions precedent, the company proposes to acquire 32 screens of DUL in National Capital Region and Chandigarh, it added.
At 10:23 AM, the stock was up 2% at Rs 894 on the BSE. A combined 113,796 shares changed hands on the counter on the BSE and NSE.
The company, a leading multiplex operator, had posted a net loss of Rs 36 crore in the corresponding quarter of the previous financial year 2014-15.
Net sales during the quarter grew 38% year on year at Rs 413 crore from Rs 300 crore in a year ago quarter. Ebitda (earnings before interest, taxes, depreciation and amortization) jumped more than four-fold at Rs 53 crore in Q4FY16 as against Rs 13 crore in a year ago quarter.
PVR reported a ten-fold increase in profit after tax to Rs 119 crore for FY16 from Rs 12 crore in FY15.
The company on Tuesday announced that it has executed an amendment agreement with DLF Utilities for acquisition of the cinema exhibition business of DUL (which is operated under the brand name of “DT Cinemas”) on a slump sale basis for a revised consideration of Rs 433 crore.
The amendment agreement provides for exclusion of DT Savitri (1 screen) and DT Saket (6 screens) from the aforementioned transaction. Subject to satisfaction of customary conditions precedent, the company proposes to acquire 32 screens of DUL in National Capital Region and Chandigarh, it added.
At 10:23 AM, the stock was up 2% at Rs 894 on the BSE. A combined 113,796 shares changed hands on the counter on the BSE and NSE.