Shringar Cinemas posts net profit of Rs 36 million

MUMBAI: Shringar Cinemas Limited has posted a net profit of Rs 36 million for the third quarter of FY 2007-08.
The company’s total revenues rose by 37 per cent year-on-year at Rs 246 million against Rs 179 million. The company’s operating profit grew to Rs 62.4 million as compared to operating profit of Rs 57.4 million.
With the recent addition of Fame Lido in Bangalore on 25 January, currently, the company operates 14 properties with 48 screens. The company is fitting out eight multiplexes with 29 screens, spread out across cities like Kolkata, Bangalore, Panchkula, Pune, Dhanbad, Mumbai etc. and these are expected to commence commercial operations over the forthcoming three quarters.
Further, the company expects to get a hand over of an additional six multiplexes comprising 25 screens, which are located in Bharuch, Baroda, Chandigarh, Ludhiana, Kalyan and Chennai, during Q 1/Q2 of FY 09.
Shringar Cinemas Ltd. 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. We are in for exciting times with an additional eight sites (comprising an additional 29 screens), which are expected to commercially open in the forthcoming three quarters.”

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