PVR FY10 net dips 84% to Rs 1.35 cr

Multiplex chain PVR today said its consolidated net profit fell by 84.50 per cent to Rs 1.35 crore for the year ended March 31, 2010, compared to the previous fiscal.
    
The consolidated profit for 2008-09 was Rs 8.71 crore.
    
Total income on consolidated basis for 2009-10 was down 4.73 per cent to Rs 338.55 crore against Rs 355.39 crore in the previous fiscal, PVR said in a filing to the Bombay Stock Exchange.
    
The company could not be reached for comments on the reasons for the fall in profit.
    
Revenue from the movie exhibition business increased to Rs 303.47 crore in the reporting fiscal from Rs 293.55 crore in the previous fiscal, while that from movie production and distribution fell to Rs 25.38 crore in 2009-10 from Rs 72.12 crore in 2008-09.
    
On a standalone basis, the company posted a decline of 97.41 per cent in net profit at Rs 0.26 crore for the fiscal ended March 31, 2010, against Rs 10.07 crore in the previous fiscal.
    
Total income on a standalone basis dipped 3.75 per cent to Rs 278.36 crore for 2009-10 from Rs 289.23 crore in the previous fiscal.
    
The company board has recommended 10 per cent dividend, or Re 1 per share, for the financial year ended March 31, 2010.