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Pyramid Saimira Posts Net Loss Of Rs. 36.4M

It appeared to be recovering but the quarter has been a setback for theatre chain owner Pyramid Saimira, which reported a standalone net loss of Rs. 36.4 million, down 95.1% year on year in the quarter ended December 2009. It had registered a net profit of Rs. 57.79 million in the September 2009 quarter. The group runs film, hospitality, realty, food and beverage and cine advertising businesses. Details: Financials Net income has tumbled 94.3 percent sequentially and 97.6 percent year on year to Rs. 32.8 million in the quarter. Expenditure has also reduced 91.4 percent from the previous quarter to Rs. 48.75 million. In October, PSTL sold 39.87% stake of its film production subsidiary Pyramid Saimira Productions International to RDB Group and announced it would produce 28 films and 1,785 hours of TV content for 2010-2011. N. Seetharaman was appointed as…

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