Pvr Spi Cinemas Deal
SPI Cinemas adds flair to PVR's Q1 script; revenue up 26% at Rs 880 cr
Reported topline jumped 26 per cent, but net profit down 69 per cent due to change in accounting norms and weak show by key segments
 "SPI Cinemas adds flair to PVR's Q1 script; revenue up 26% at Rs 880 cr")
PVR sets high revenue goals for SPI Cinemas, aims Rs 5 billion by FY20
Multiplex chain PVR Ltd is eyeing Rs 500 crore revenue from South India-based SPI Cinemas, which the former is in the process of acquiring, by financial year 2019-20. SPI Cinemas, which operates 76 screens across 17 properties in 10 cities under several brands Sathyam, Escape, Palazzo, The Cinema, S2 Cinema, has reported revenue of Rs 309.6 crore in 2017-18. "We expect SPI Cinema acquisition to contribute Rs 500 crore revenue by financial year 2020. We also expect this acquisition to help us diversify content risk further with good mix of regional, Bollywood and Hollywood films," Kamal Gianchandani, CEO, PVR Pictures & Head of Strategy and Planning, told analysts in a conference call. Earlier this week, PVR announced it is acquiring 71.69 per cent stake in SPI Cinemas for about Rs 633 crore in an all cash deal. The company's board also approved the issuance of 1.6 million shares of PVR for the residual stake. The company said that acquisition is in line with the its continual ...
 "PVR sets high revenue goals for SPI Cinemas, aims Rs 5 billion by FY20")
