Revenues for FY13-14 at Rs 1,358cr: PVR

PVR Limited has announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2014.

The consolidated revenues for quarter ended March 31, 2014 was Rs 316 crores as compared to Rs. 240 crores during the corresponding period of last year, up by 32%. Consolidated EBITDA for the quarter was Rs. 35 crores as against Rs 18 crores in the same period last year, up by 92%.

The consolidated revenues for FY 2013-14 was Rs 1,358 crores as compared to Rs 815 in FY 2012-13, up by 67%. Consolidated EBITDA for FY 2013-14 was Rs 223 crores (EBITDA Margin 16.4%) as against Rs 126 crores (EBITDA Margin 15.4%) in FY 2012-13, up by 77%. Consolidated PAT for FY 2013-14 was Rs 50 crores as against Rs 44 crores in FY 2012-13, up by 14%.

During the quarter the company had 13.9 million footfalls in its cinemas, up by 21% as compared to corresponding quarter of previous year. Food and beverage revenues grew by 46% over corresponding quarter of previous year. Sponsorship revenues also showed a strong growth of 48% over corresponding quarter of previous year.

During the year under review the company entertained 60 million patrons in its cinemas, up by 9% as compared to the previous year. Food and beverage revenues of FY 2013-14 showed a strong growth of 29% over FY 2012-13 on account of success of the various strategic initiatives taken by the company. Sponsorship Income showed a stellar growth of 44% over same period last year on account of synergies arising out of acquisition of Cinemax.

During the year, the company had opened 13 new properties with 73 screens and currently operates a network of 421 screens spread over 97 properties in 41 cities across the country.  The company continues its aggressive expansion plans and intends to add approx 60-70 screens in the FY 2014-15.

Commenting on the results and performance, Mr. Ajay Bijli, Chairman and Managing Director, PVR Ltd said, the FY 2014-15 has started well with strong performance of films like 2 States, Bhootnath Returns, Captain America and the strength of the film line up for the remaing part of the year underpins our confidence that we are on track with our plans for the full year. Our differentiated strategy, heightened brand awareness, and guest engagement tactics will further enhance the customer experience in 2014 & beyond. During the year the company also surpassed an important milestone of 400 screens in India further consolidating its leadership position in multiplex space in India. The merger of Cinemax with PVR also got completed and the management will continue to focus on driving synergies from the combined scale of operations which is reflecting in the market share and the reported results.