It had posted a net profit of Rs 43.51 crore in the April-June quarter a year-ago, PVR said in a BSE filing.
PVR's consolidated net sales were up 17.19 per cent to Rs 559.96 crore during the quarter under review as against Rs 477.81 crore in the year-ago period.
"The main reason was that the expenses of the last year were accounted in the subsequent quarter, which is the first quarter of the current year," PVR CFO Nitin Sood said.
During the quarter, the box office was up 1 per cent and the company has 7 per cent ticket growth on account of good releases as Kung Fu Panda 3, Jungle Book, Housefull 3, Baaghi, Sairat, The Conjuring 2, Udta Punjab, Captain America etc.
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"We have a footfall of 20.7 million in the quarter, which is up 9 per cent from the corresponding quarter," he added.
Its revenue from movie exhibition was up 40.91 per cent to Rs 532.45 crore in the first quarter as against Rs 377.85 crore of the corresponding period of the previous fiscal.
For 'Others' segment which includes bowling, gaming and restaurants, it was Rs 20.37 crore, up 12.60 per cent as against Rs 18.09 crore in the first quarter last fiscal.
During the quarter, PVR added 37 screens and now has a network of 551 screens in 47 cities across the country.
Over the outlook, he said: "We have a very good content pipeline for the year. We have films as Sultan, Kabali, Mohanjodaro and Rustom. Hence outlook, for the coming quarter is very promising".
Its board in a meeting held today has approved to issue NCDs of Rs 50 crore and has also asked "for the approval of members in the ensuing annual general meeting issue of non-convertible debentures for a sum not exceeding Rs 250 crore."
Shares of PVR were today settled at Rs 1,145.10 on BSE, up 0.19 per cent from previous close.