Inox Leisure posts net profit of Rs 35.2 million in Q1

MUMBAI: Inox Leisure has posted net profit of Rs 35.20 million (Rs 3.52 crore) in Q1 2010 as compared to a net loss of Rs 40.1 million (Rs 4 crore) in the corresponding period last year.

The company saw a rise of 132 per cent in its revenues, which stood at Rs 803.6 million (Rs 80.36 crore) as compared to Rs 345.1 million (Rs 34.51 crore) a year ago. However, it must be kept in mind that last year, there were no new movies released in theatres during this period due to the strike between film producers, distributers and multiplexes.

The company’s expenses jumped to Rs 727.7 million (Rs 72.77 crore) in Q1 from Rs 400.5 million (Rs 40.05 crore) in the year-ago period.

Inox Leisure director Deepak Asher said, “The first quarter results reinstate Inox’s firm ability to sustain a robust growth momentum and a profit leadership position in the multiplex industry. Going forward in the quarters ahead, with some interesting content lined-up and with our focus to create India’s largest network of state-of-the-art multiplexes across the country, we hope to maintain the growth momentum, deliver a world class film viewing experience to our patrons, and enhance value to our stakeholders.”

The operating profit of Inox’s multiplex business was Rs 74.2 million (Rs 7.42 crore) in Q1 this year as compared to an operating loss of Rs 55.8 million (Rs 5.58 crore) in the first quarter of FY 2010.

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