PVR net profit rises over four-fold in Q2

Multiplex chain operator PVR on Tuesday reported over four-fold jump in consolidated net profit at Rs 41.05 crore for the July-September quarter of this year on account of increase in number of footfall.

The company had reported a consolidated net profit of Rs 9.20 crore for the July-September quarter of last fiscal.

PVR's net sales during the quarter under review were up 18.91 per cent to Rs 473.69 crore as against Rs 398.36 crore for the same period last fiscal.

"The quarter we had very good releases which lead to 20 per cent increase in footfall. Along with box office revenue from food & beverages was also very strong," PVR CFO Nitin Sood told PTI.

PVR has successful performance of films, including Bajrangi Bhaijaan, Baahubali, Welcome Back, Drishyam, Mission Impossible at the box office.

Over the outlook, for the coming quarter, he said:"We are hope Q3 to be our one of the best quarters. We have a Ranbir Kapoor film Tamasha, one Salman Khan's film, one Sanjay Leela Bhansali's film and two big Hollywood films of James Bond and Star Wars are releasing in this quarter".

In the first six months, PVR added 13 new screens and would add 45 to 50 more in the remaining two quarters.

PVR is operating a network of 477 screens spread over 107 properties in 44 cities.

Shares of PVR settled at Rs 842.45 on BSE, down 2.19 per cent from previous close.