Multiplex chain PVR Cinemas has reported revenues of Rs 1873.64 crore for the year ended March 31, 2016, up 26% year-on-year (YoY) from Rs 1481.34 crore in the previous year. The company reported a ten-fold increase in profit after tax to Rs 119.27 crore for FY16 from Rs 11.64 crore in FY15.
PVR also narrowed its consolidated net loss to Rs 10.25 crore for the fourth quarter ended March 31, 2016. It had posted a net loss of Rs 35.65 crore in the corresponding quarter of the previous financial year 2014-15. Net sales for the quarter ended March 31, 2016, stood at Rs 412.57 crore, up 38% YoY from Rs 299.55 crore. Revenues increased by 39% to Rs 419 crore from Rs. 301.5 crore. EBITDA stood at Rs. 52.9 crores as against Rs 12.7 crores.
Advertising contributed to 11.7% in the company’s quarterly revenues with Rs 45.45 crore. It had reported Rs 38.1 crore in terms of advertising revenue in Q4 FY15. Revenue from movie exhibition grew to Rs 377.87 crore from Rs 271.40 crore from the prior-year quarter. Income from movie production and distribution stood at Rs 22.77 crore in Q4 FY16 compared to Rs 13.61 crore a year ago. The sponsorship revenues witnessed a 19% year-on-year growth.
– During the year, PVR added 52 screens across Bokaro, Vadodara, Kolhapur, Chennai, Bangalore, Pathankot and Noida. PVR currently operates a network of 524 screens spread over 114 properties in 47 cities across the country. The company has continued its expansion plans and intends to add approximately 65 screens, including eight screens in Lucknow in the current financial year.
– PVR had also informed BSE that DLF will sell 32 screens of its DT cinemas brand to PVR under a revised deal worth Rs 433 crore weeks after CCI gave its conditional nod with direction to exclude seven screens from the proposed transaction. It further added that the sale and transfer of the said cinema exhibition business, as a going concern on a ‘slump sale’ basis, had been completed on May 31, 2016.