PVR posts net profit of Rs 11.72 cr in Q4
New Delhi: The country's leading multiplex chain PVR Ltd on Tuesday reported consolidated net profit of Rs 11.72 crore for the fourth quarter ended on March 31, 2013.
It had posted a net loss of Rs 13.24 crore in the year-ago period, the company said in a statement.
During the quarter total income from operations stood at Rs 244.42 crore as against Rs 120.24 crore in the corresponding period previous fiscal.
"The exhibition business of both PVR and Cinemax combined in the quarter under review showed a growth of 26 percent in overall revenues driven by strong box office and food and beverage revenues," the statement added.
During the quarter the company had 11.5 million footfall in its cinemas, up by 36 percent as compared to the previous year, it added.
For the 2012-13 fiscal the company's net profit stood at Rs 44.5 crore as against Rs 25.42 crore in 2011-12.
The total income of the company in 2012-13 increased to Rs 809.68 crore as against from Rs 521.03 crore in the previous fiscal, it said.
Commenting on the results Chairman cum Managing Director of PVR Ltd Ajay Bijli in a statement said: "The good result is also a function of the company's long term location strategy to partner in best mall developments in the country, its unique design philosophy, strong customer focus and a unique brand positioning."
He added that during the fiscal 2012-13, PVR added 138 screens through Cinemax acquisition and 8 properties with 47 screens through organic route.
"The company is on a strong growth path intends to add another 90 screens in 2013-14 fiscal," Bijli said.
Shares of the company today rose by 4.36 percent to settle at Rs 342.05 apiece from its previous close at the BSE.