PVR Ltd, the multiplex chain owner, reported a marginal fall in its net profit for the June quarter (Q1). From Rs. 43.51 crore earned a year earlier, the company's profit declined by 1.60 percent to Rs. 42.81 crore.
The total revenues earned, however, shot up by 17.33 percent to Rs. 570.24 crore from Rs. 486 crore gained a year earlier. To give the break up, net sales from its operation business earned Rs. 559 crore and the other businesses earned Rs. 102 crore in revenues.
Kotak Securities said in a note that the key blockbuster movies during the June Q1 were The Jungle Book, Sairat, Fan and Captain America. It added, the number of movie-watchers at PVR also increased by 9 percent to 20.7 million, while the average price per ticket grew also grew 7 percent to Rs. 195 compared to a year ago period.
Food and beverage (F&B) consumption too increased 5 percent to Rs. 78 per movie-goer, while the multiplex-chain gained 13 percent growth over a year's period in its advertisement revenue too.
Business Segment Revenues
The company's main business segment of movie exhibition earned the lion's share of Rs. 530 crore in revenue, followed by two other key segments like production and distribution (Rs. 26 crore) and gaming and restaurant segment (Rs. 20 crore). Net profits from the three segments were Rs. 84 crore, Rs. 1.3 crore and Rs. 60 lakh respectively.
Business Segment Expenditure
For the June Q1, the cost of exhibiting the movies was Rs. 121 crore, while money expended for F&B services was Rs. 36 crore. Rent and electricity expenses for the period was Rs. 91 crore and Rs. 64 crore respectively.
The note added that PVR opened 8 new screens in the June Q1 and added 29 screens of DT Cinemas. It also closed 2 single screen ventures in the country, while its overall screen count stood at 551.
At market close on Friday, PVR share on Bombay Stock Exchange was up by 0.19 percent to Rs. 1145.