Multiplex operator Inox Leisure today reported a consolidated net profit of Rs 57.69 crore in the March quarter, owing to tax credit of Rs 53.70 crore.
The company had posted a net profit of Rs 34 lakh in the same period of 2016-17.
Total income stood at Rs 329.85 crore, up from Rs 290.81 crore in the year-ago quarter, Inox Leisure said in a regulatory filing.
It said in view of the assessments and appellate order received by the company during the year, the tax liability for earlier years is re-computed and consequential reduction in taxation in respect of earlier years of Rs 53.70 crore and Rs 1.59 crore is recognised during 2017-18 and 2016-17, respectively.
For the entire 2017-18, Inox Leisure posted a net profit of Rs 114.63 crore, as against Rs 30.62 crore in the previous year.
Its total income was at Rs 1,362.58 crore as compared to Rs 1,229.83 crore in 2016-17.
Shares of Inox Leisure settled 5.92 per cent higher at Rs 282.70 on BSE.