Fame India post net profit of Rs 68 million for Q3 FY 2009-10

MUMBAI: Film exhibition and distribution company Fame India has reported a net profit of Rs 68.70 million (Rs 6.78 crore) in Q3 FY 2009-10 as against a net loss of Rs 35 million (Rs 3.5 crore) during the same period last year.

The company’s total revenues rose by 63 per cent year-on-year at Rs 544.60 million (Rs 54.46 crore) against Rs 335.10 million (Rs 33.51 crore).

The company’s operational EBIDTA (net of non operating income/expenses) grew to Rs 127.50 million (Rs 12.75 crore) as compared to Rs 63.60 million (Rs 6.36 crore).

Currently, the company operates 25 multiplex properties with 95 screens spread across 12 cities.

In this quarter, Fame Vihar began operations in Baroda. The shells of two additional properties, Fame Chennai and Fame Vijaywada will also be handed over to Fame India by 31 March, 2010.

While the Company is currently fitting out a multiplex with four screens in Chandigarh, there are six more properties, which are expected to be handed over in the near future. Thus the company has a visibility into commencing commercial operations of further 26 screens over the forthcoming financial year.

Fame India managing director Shravan Shroff said, “We have continued our growth in the third quarter of this fiscal on the back of improved occupancies and higher realization from tickets and F&B. With addition of a three-screen property Fame Vihar in Vadodara and receipt of entertainment tax exemptions for Fame Ghatkopar and Fame Fun-N-shop Pune, the margins are expected to improve further. Success of movies like 3 Idiots, Ajab Prem Ki Gajab Kahani, Avatar, 2012 etc. released in third quarter reassures our confidence in the exhibition space.”