PVR Q4 profit moves up 78 pc to Rs 47 crore

PVR Q4 profit moves up 78 pc to Rs 47 crore

New Delhi: Multiplex cinema operator PVR Limited said on Friday its consolidated profit after tax was Rs 47 crore during Q4 of 2018-19 as compared to Rs 26 crore in the corresponding period of the previous year, marking a growth of 78 percent.

The company’s revenue increased 43 percent to Rs 846 crore from Rs 592 crore, while earnings before interest, tax, depreciation, and amortization (EBITDA) was up 66 percent to Rs 169 crore as against Rs 102 crore in the same period last year.

Consolidated revenues for the financial year ending March 31 were Rs 3,119 crore as compared to Rs 2,365 crore during FY 18, witnessing a growth of 32 percent.

Consolidated EBITDA was up 43 percent at Rs 619 crore as against Rs 433 in the previous year. Profit after tax jumped 47 percent to Rs 184 crore as compared to Rs 125 crore during the corresponding period of last year.

“We crossed the landmark of 750 screens and served almost 100 million patrons, a feat which placed us among top 10 cinema chains globally in terms of admits,” said Chairman and Managing Director Ajay Bijli.

“The year also saw one of the best box office performances with movies across genre attracting customers to the cinema.”

Bijli said the recent reduction of Goods and Services Tax rate on movie tickets above Rs 100 from 28 percent to 18 percent, and for movie tickets below Rs 100 from 18 percent to 12 percent will further make this experience accessible to a larger population.

During the current financial year, PVR has added 138 screens. This also included screen additions made by the company on the acquisition of SPI Cinemas to strengthen its presence as the country’s leading cinema exhibitor.

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