Pyramid Saimira posts Rs 299 mn net profit


MUMBAI: Pyramid Saimira Theatre has posted a turnover of Rs 2.31 billion for the third quarter ended 31 December, 2007, as against a turnover of Rs 460 million for the corresponding quarter last year.

The total revenue for the period from April – December 2007 stood at Rs 5.02 billion. The net profit for the December 2007 quarter was Rs 298.6 million as against Rs 51.5 million for the corresponding quarter last year.

The company added 168 new theatre screens in this quarter, thus taking the total number of screens to 655 screens in India.

Pyramid Saimira Theatre managing director PS Saminathan said, “The Q3 performance has vindicated our focus on aggressive expansion and unmatched speed of execution. During this quarter, we added 168 screens in India alone in just 90 days. Apart from this, we have operationalised our USA acquisition, acquired Dimples Cine Advertising, India’s largest cine advertising company and recently added Aurona Technologies to our group, to mark our foray into the gaming sphere. We are now consolidating distribution and production segments, which will lend solidity and propel our margins, going forward. Pyramid Saimira’s focus on food and beverage segment has already started yielding dividends. We will sustain our aggressive expansion plan this quarter too and we hope to become the world’s largest theatre chain company shortly.”

During this quarter, Pyramid Saimira recorded 51.69 million footfalls and an average capacity utilization of 39.15 per cent. Cumulatively during this nine month period, Pyramid Saimira sold 118 million tickets and now manages 430,000 sets per show with 5.6 million sq ft under operational management.

The company operates over 53 multiplexes with approximately 800 screens across India, Malaysia, Singapore and North America. By 2010, the group plans to operate 175 multiplexes with 2,000 screens in India alone.