PVR's profit after tax up by 159% at Rs 144 million in Q1 2011-12

MUMBAI: PVR has reported profit after tax of Rs 144.2 million (Rs 14.42 crore) for the quarter ended 30 June, 2011, which is 159 per cent up as compared to Rs 55.6 million (Rs 5.56 crore) in Q1, 2010-11.

The consolidated revenues for Q1, 2011-12 stood at Rs 1.17 billion (Rs 117.15 crore) up by 14 per cent as compared to Rs 1.03 billion (Rs 103.11 crore) during Q1, 2010-11.

EBITDA for Q1, 2011-12 was Rs 343.4 million (Rs. 34.34 crore) as compared to Rs 184.3 million (Rs 18.43 crore) in Q1, 2010-11, up by 86 per cent.

The exhibition business showed stellar performance in Q1, 2011-12 with increase in revenue from Rs 948.4 million (Rs 94.84 crore) in Q1, 2010-11 to Rs 1.06 billion (Rs 106.10 crore) in Q1, 2011-12, up by 12 per cent.

EBITDA for Q1, 2011-12 was Rs 355.8 million (Rs 35.58 crore) as compared to Rs 158.1 million (Rs 15.81 crore) in Q1, 2010-11. Core business EBITDA grew by 18 per cent from Rs 158.1 million (Rs 15.81 crore) in Q1, 2010-11 to Rs 186.2 million (Rs 18.62 crore) in Q1, 2011-12. PAT for the Q1, 2011-12 was Rs 220.8 million (Rs 22.08 crore) as against Rs 45.1 million (Rs 4.51 crore) during corresponding period of previous year, up by 389 per cent.

The company at present operates 34 properties with 146 screens in 19 cities across the country. PVR plans to add another 50-60 screen in FY 2011-12 in key markets like Surat, Nanded, Delhi, Pune, Kolkata, Jalandhar and Bangalore.

PVR chairman and managing director Ajay Bijli said, "The revenues and profitability in Q1, 2011-12 has shown a robust growth over the corresponding period of previous year. The company plans to maintain the momentum and is focused on significant screen additions in next 12 months with plans to add 50-60 new screens. Also very soon we are going to reach another milestone in our journey since we opened the first multiplex in 1997 – that of opening 150 screens across the country. The company’s subsidiary PVR bluO is also setting up bowling centers across the country with two new centers with 54 lanes slated to open in current financial year."