PVR revenues up by 21% y-o-y for the quarter ended 31st Dec, 2015

 

PVR Limited today announced its unaudited standalone and consolidated financial results for the quarter ended 31st Dec, 2015

The consolidated revenues for quarter ended Dec 31, 2015 was Rs 507.1 crores as compared to Rs. 420.6 crores during the corresponding period of last year, up by 21%. Consolidated EBITDA for the quarter was Rs. 92 crores as against Rs 83 crores in the same period last year, up by 11%. Consolidated PAT for the quarter was Rs 30 crores

The company has delivered a strong financial and operational performance in the quarter on account of successful performance of films like Talvar, Pyaar Ka Punchnama 2, Dilwale, Bajirao Mastani at the Box Office.

Footfalls increased by 3% to 16.5 mn in the quarter against same period last year. A 13% growth in Food and beverage revenues reflected strong continuing positive performance year on year. Sponsorship Revenues witnessed a stellar growth of 29% over the same period last year

During the first 10 months PVR added 27 screens across Bokaro, Vadodara & Kolhapur, Chennai and Bangalore and currently operates a network of 491 screens spread over 109 properties in 44 cities across the country. The company continues its aggressive expansion plans and intends to add approx another 25-30 screens in the current quarter.

Commenting on the results and performance, Mr. Ajay Bijli, Chairman cum Managing Director, PVR Ltdsaid “This will be a landmark year in PVR’s journey as the company turns free cash flow positive and expects to fund its organic growth through internal accruals.

We see the momentum of performance continuing in forthcoming quarters on back of strong content pipeline and consumer demand for out of home entertainment. Our growing circuit of high quality cinemas, heightened levels of demand for movie watching and our company-wide emphasis on customer service excellence remain critical factors in our ability to generate positive operating results over the long-term. We have maintained the position as leading multiplex player and will be the first Multiplex chain in India to surpass 500 screens mark in this quarter.

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