Multiplex chain Inox Leisure Ltd has reported that its net profit has diropped 39.93 per cent to Rs.5.25 crore for the quarter ended December 31, 2010, against Rs.8.74 crore for the same quarter last fiscal.
The company has posted net sales of Rs.100.20 crore for Q3 against Rs.83.89 crores for the quarter ending December 31, 2009.
Inox Leisure Ltd had recently announced the completion of majority stake acquisition in Fame India Ltd, which owns the chain of Fame Multiplexes. With this, Fame India became a subsidiary of Inox Leisure, which now holds 50.27 per cent stake in the company. On February 3, 2010 Inox had acquired 43.28 per cent stake in Fame India and two days later, it acquired another 7.21 per cent stake.
– IndiaRetailing Bureau