New Delhi: Multiplex cinema operator PVR Ltd on Thursday reported a 35 percent year-on-year jump in its consolidated net profit at Rs 47.8 crore for the second quarter of the current financial year.
India’s largest film exhibition company had posted a net profit of Rs 35.47 crore in the July to September quarter of last year.
The consolidated revenue jumped 37.4 percent to Rs 973.2 crore in Q2 FY20 over Rs 708.5 crore in Q2 FY19. Earnings before interest, taxes, depreciation, and amortization (EBITDA) worked out to Rs 318 crore
The expenditure increased by 37.4 percent to Rs 905.7 crore against Rs 659.14 crore in the same period last year. The jump was due to rising movie exhibition costs, consumption of food and beverages, and employee benefits expenses.
PVR has organized its operations into three business segments: movie exhibition, movie production, and distribution & others. It operates a cinema circuit of 800 screens at 170 properties in 69 cities (21 states and union territories).
In August 2018, the company had announced the acquisition of 71.69 percent stake in SPI Cinemas for about Rs 633 crore in an all-cash deal. It acquired Cinemax in 2012 and took over DT Cinemas in the year 2016.