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Cinema exhibition company PVR Ltd reported consolidated revenues for quarter ended March 31 of Rs 301.5 crores as compared to Rs 316.3 crores during the corresponding period of last year, down by 5%.
Consolidated EBITDA for the quarter was Rs 12.7 crores as against Rs 35 crores in the same period last year, down by 64% and net loss for the quarter stood at Rs 35.5 crores.
During the quarter the company had 12.2 million footfalls in its cinemas, down by 12% as compared to corresponding quarter of previous year largely due to the muted performance of films due to Cricket world cup (Mid Feb- End March). In spite of the drop in footfalls, the average ticket price was up by 5%.
Consolidated EBITDA for the quarter was Rs 12.7 crores as against Rs 35 crores in the same period last year, down by 64% and net loss for the quarter stood at Rs 35.5 crores.
During the quarter the company had 12.2 million footfalls in its cinemas, down by 12% as compared to corresponding quarter of previous year largely due to the muted performance of films due to Cricket world cup (Mid Feb- End March). In spite of the drop in footfalls, the average ticket price was up by 5%.
The consolidated revenues for FY 2014-15 was Rs 1,486 crores as compared to Rs 1,359 in FY 2013-14, up 9%. Consolidated EBITDA for FY 2014-15 was Rs 210 crores (EBITDA margin 14.1%) as against Rs 223 crores (EBITDA Margin 16.4%) in FY 2013-14, down by 6%. Consolidated PAT for FY 2014-15 was Rs 11.6 crores
During the year under review the company entertained 59.2 million patrons in its cinemas, down by 1% as compared to the previous year owing to disappointing box office performance of the movie content released during the year. The adverse impact of poor content quality to an extent was mitigated by improvement in non-box office revenues.
Food and beverage revenues of FY 2014-15 showed a strong growth of 17% over FY 2013-14 on account of success of the various strategic initiatives taken by the company. Sponsorship Income showed a robust growth of 18% over same period last year Ajay Bijli, Chairman & Managing Director, PVR Ltd said, “While the Q4, FY 15 performance stood tepid , with the consumer sentiment coming back Q1, FY 15 box office have been very strong with movies like Fast & Furious 7, Avengers, Gabbar, Piku, Tanu Weds Manu leading the pack. Going forward we have Dil Dhadakne Do, Jurassic World & ABCD-2 releasing in June followed by Bajrangi Bhaijaan, a Salman Khan starrer & Drishyam in July. The content pipeline looks pretty promising and hopefully the worst in terms of content should be behind us & we expect a blockbuster 2015-16.”
Food and beverage revenues of FY 2014-15 showed a strong growth of 17% over FY 2013-14 on account of success of the various strategic initiatives taken by the company. Sponsorship Income showed a robust growth of 18% over same period last year Ajay Bijli, Chairman & Managing Director, PVR Ltd said, “While the Q4, FY 15 performance stood tepid , with the consumer sentiment coming back Q1, FY 15 box office have been very strong with movies like Fast & Furious 7, Avengers, Gabbar, Piku, Tanu Weds Manu leading the pack. Going forward we have Dil Dhadakne Do, Jurassic World & ABCD-2 releasing in June followed by Bajrangi Bhaijaan, a Salman Khan starrer & Drishyam in July. The content pipeline looks pretty promising and hopefully the worst in terms of content should be behind us & we expect a blockbuster 2015-16.”
During the year, the company has opened 9 new properties with 50 screens and currently operates a network of 467 screens spread over 105 properties in 43 cities across the country. The company continues its aggressive expansion plans and intends to add approx 60-70 screens in the FY 2015-16.
