Inox records 40% YoY increase in net profit

MUMBAI: Inox Leisure Ltd. has announced its results for the third quarter of the financial year 2006-2007. For the quarter ended 31 December, 2006, Inox Leisure reported PAT (Profit after Tax) of Rs 4.83 crores as compared to Rs 3.44 crores in the corresponding quarter of the previous year – an increase of 40 per cent.

Its total income rose 45 per cent for the quarter; up from Rs 29.48 crores to Rs 42.83 crores. Inox Leisure registered an EBITDA of Rs 10.13 crores compared to Rs 8.25 crores in the same quarter of the previous year, a growth of 23 per cent.

Inox Leisure’s footfalls were up 61 per cent this quarter from 1,554,497 to 2,503,234; its seats under operation are up 44 per cent from 9,290 to 13,377 as compared to the corresponding quarter in 2005-2006.

Over the nine-month period ending December, Inox has registered strong growth with sales up 54 per cent from Rs 80.29 crores to Rs 123.31 crores. Net Profit has also grown 53 per cent from Rs 13.16 crores to Rs 20.15 crores, in the same time period.

The scheme of Amalgamation of Calcutta Cine Private Limited (CCPL) into Inox Leisure Limited has been approved at a meeting of the equity shareholders ILL held on 4 January, 2007.

INOX has recently launched its property at Chennai in January 2007 taking its tally of multiplexes across India to 13, with 48 screens and 14,286 seats.

Inox Leisure Ltd director Deepak Asher said, “It has been a satisfying performance this quarter for Inox and things look very promising for the future with several new properties slated to open in the near term, as well as the acquisition of CCPL getting formalized.”