Shringar posts Rs 36.4 million net profit in Q3

MUMBAI: Shringar Cinemas has declared a net profit of Rs 36.4 million (Rs 3.64 crore) as against a net loss of Rs 19.9 million (Rs 1.99 crore) during the same period last year, for the quarter ended 31 December, 2006.

Shringar’s total revenues rose by 102 per cent year-on-year at Rs 154.2 million (Rs 15.42 crore) against Rs 76.6 million (Rs 7.66 crore), says a company release. The company’s operating profit grew to Rs 31.9 million (Rs 3.19 crore) as compared to operating loss of Rs 5.2 million (Rs 0.52 crore).

Shringar had posted a net profit of Rs 39.1 million (Rs 3.91 crore) in the first six months of FY07. The company’s operating profit margin boosted to 21 per cent in Q3 FY07 compared to 20 per cent (Q2 FY07) on sequential quarter basis, making it the second consecutive quarter where the company has sustained its operating profit margin above 20 per cent.

The company opened three new properties – Fame Nakshatra (Dadar) and Thakur Fame (Kandivali) in Mumbai and Fame Aurangabad in Q3 FY07. Currently, Shringar operates 10 properties with 36 screens throughout the country and plans to add nine more properties with 34 screens across Mumbai, Thane, Pune, Kolkata, Bangalore, Ahmedabad, Chandigarh and Patiala during FY 08.