Digital cinema distribution firm and ad platform UFO Moviez has posted a net profit of Rs 16.52 crore for the quarter ended September 30, 2015 showing a growth of 19% year-on-year (YoY). The company had posted a net profit of Rs 12.8 crore in the preceding quarter, a growth of 29%. Revenues at the company increased 18% to Rs 148.25 crore from Rs 125.6 crore from the same period last year. On a sequential basis, revenues increased 13.7% from Rs 130.3 crore. In the first half of this year, the company’s advertisement revenue grew 37.8% to Rs 70.7 crore from Rs 51.3 crore in H1FY15. The average number of advertisement minutes sold per show per screen also increased to 3.83 minutes from 2.92 minutes in the corresponding half last year. “The expansion of Caravan Talkies is progressing as per plan and we expect this business to begin contributing meaningfully at an operating level soon. We also delivered strong growth in revenues driven by E Cinema VPF, sale of products and increase in advertisement volumes,” said Kapil Agarwal, joint managing director of UFO Moviez. UFO says it has created a pan-India, in-cinema advertising platform with long-term advertising rights to 3,690 screens, with an aggregate seating capacity of approximately 1.79 million viewers and a reach of 1,882 locations. The platform also allows small exhibitors who otherwise are not able to effectively monetize their advertising inventory due to their limited scale and reach to receive a greater share of advertising revenue. UFO operates…
