Deccan Chronicle

PVR Q4 net profit at Rs 74 lakh, to add 70 screens in FY15

Deccan Chronicle | DC Correspondent

Published on: May 29, 2014 | Updated on: Invalid date

Net sales during the fourth quarter of FY'14 stood at Rs 313.87 crore

PVR Cinemas India

PVR Cinemas India

New Delhi: Multiplex operator PVR Ltd reported consolidated net profit of Rs 74 lakh for the quarter ended March 31. It had reported net profit of Rs 11.72 crore in the same quarter of the previous fiscal, 2012-13, PVR said in a BSE filing. The company said the results are not comparable with that of last financial year due to the acquisition of Cinemax India in January 2013. Net sales during the fourth quarter of FY'14 stood at Rs 313.87 crore as compared to Rs 236.23 crore in the year-ago period.

During FY'14, the company's net profit stood at Rs 56.05 crore, against Rs 44.50 crore in previous financial year. Net sales in 2013-14 were at Rs 1,347.51 crore as compared to Rs 806.39 crore in the same period last year due to addition of 73 multiplex screens in the fiscal. "We were bullish in the year gone. The year was better than our expectations. Our operating margin increased 3 to 4 per cent.

Our size of the business has grown," PVR CFO Nitin Sood said. On the business outlook for the current fiscal, he said that the company would add around 70 screens this year. "Our revenue would grow by 20 per cent," Sood said adding that revenue from segments as food & beverages, advertising etc would increase as per the trend. The company's board has recommended a final dividend of Rs 2.50 per share. Shares of PVR Ltd closed at Rs 544.05 apiece on the BSE, down 2.28 per cent from previous close. 

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