PVR Ltd has reported a net profit of Rs.8.97 crore for the second quarter ended September 30, 2010, a growth of 39 per cent over Rs.6.44 crore reported in the corresponding quarter last fiscal.
The company’s consolidated revenues for the quarter under review stood at Rs.135 crore, up 46 per cent over Rs. 92.22 crore for the quarter ended September 30, 2009.
EBITDA for Q2 FY 2010-11 was Rs.34.59 crore, a growth of 80 per cent over Rs.19.25 crore for the same quarter a year ago.
Commenting on the financial results, Ajay Bijli, chairman & managing director, PVR Ltd, said, “This has been a good quarter for us. We have been able to consolidate our position in the exhibition space by adding 19 new screens in the first half of the year. Revenues and profitability have seen a robust growth over last year.”
Pramod Arora, group president and CEO, PVR Cinemas Ltd, said, “The set of numbers reflected in this quarter are a result of fundamental changes brought about in the system for better and sustained profitability.”
PVR Ltd currently operates 33 properties with 142 screens in 18 cities across the country. The company plans to add another 25-30 screens by March 2011 in markets such as Mysore, Vijaywada, Udaipur, Shimla, Ujjain, Nanded and Delhi, among others.
– IndiaRetailing Bureau